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MKS Instruments beats Street 1Q forecasts

ANDOVER, Mass. (AP) _ MKS Instruments Inc. (MKSI) on Wednesday reported first-quarter earnings of $65.1 million.

The Andover, Massachusetts-based company said it had net income of $1.18 per share. Earnings, adjusted for one-time gains and costs, came to $1.27 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The maker of analysis and processing equipment for semiconductor companies posted revenue of $437.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $404.5 million.

For the current quarter ending in July, MKS Instruments expects its per-share earnings to range from $1.26 to $1.50.

MKS Instruments shares have climbed 27 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.35, more than doubling in the last 12 months.

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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

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Keywords: MKS Instruments, Earnings Report