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Onto Innovation: 4Q Earnings Snapshot

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WILMINGTON, Mass. (AP) _ Onto Innovation Inc. (ONTO) on Thursday reported fourth-quarter net income of $19.9 million, after reporting a loss in the same period a year earlier.

The Wilmington, Massachusetts-based company said it had net income of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 72 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The maker of semiconductor manufacturing equipment posted revenue of $155.1 million in the period.

For the year, the company reported profit of $31 million, or 63 cents per share. Revenue was reported as $556.5 million.

For the current quarter ending in April, Onto Innovation expects its per-share earnings to range from 62 cents to 76 cents.

The company said it expects revenue in the range of $155 million to $169 million for the fiscal first quarter.

Onto Innovation shares have increased 26% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $60.12, a rise of 50% 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 ONTO at https://www.zacks.com/ap/ONTO