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MKS Instruments Q1 Profit Rises - Quick Facts

MKS Instruments Inc. (MKSI) reported that its first-quarter net income was $69.1 million or $1.25 per share, up from $12.5 million, or $0.23 per share, in the first quarter of 2019.

Net income in the first quarter of 2020 included acquisition and integration costs of $2 million associated with the acquisition of Electro Scientific Industries Inc., $0.4 million of restructuring and other costs and $1.2 million of an asset impairment charge.

Non-GAAP net earnings were $85 million, or $1.54 per share, in the first quarter of 2020, compared to $61 million or $1.12 per share, in the first quarter of 2019.

Net revenues in the first quarter of 2020 were $536 million, an increase of 16% from $464 million in the first quarter of 2019. The increase in net revenues was driven largely by increased demand from customers in the Semiconductor Market.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share and revenues of $508.65 million. Analysts' estimates typically exclude special items.

The company expects that revenue in the second quarter of 2020 could range from $450 million to $520 million. At these volumes, GAAP net income could range from $0.62 to $1.10 per share and non-GAAP net earnings could range from $0.90 to $1.38 per share.

Wall Street currently is looking for the second-quarter earnings of $1.24 per share on annual revenues of $500.63 million.

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