U.S. Markets close in 4 hrs 53 mins

MKS Instruments: 3Q Earnings Snapshot

ANDOVER, Mass. (AP) _ MKS Instruments Inc. (MKSI) on Tuesday reported third-quarter earnings of $93.3 million.

On a per-share basis, the Andover, Massachusetts-based company said it had profit of $1.70. Earnings, adjusted for non-recurring costs, came to $1.88 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.

The maker of analysis and processing equipment for semiconductor companies posted revenue of $487.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $492.2 million.

For the current quarter ending in December, MKS Instruments expects its per-share earnings to range from $1.38 to $1.64.

The company said it expects revenue in the range of $420 million to $460 million for the fiscal fourth quarter.

MKS Instruments shares have fallen 22 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $73.35, a drop of 28 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKSI at https://www.zacks.com/ap/MKSI