Press release
MKS Instruments Reports Fourth Quarter and Full Year 2019 Financial Results
Quarterly revenue of $500 million, a sequential increase of 8%; semiconductor revenue sequential increase of 22%Quarterly Non-GAAP net earnings of $66
About this update from Mks Inc.
[{"type":"text","content":"Quarterly revenue of $500 million, a sequential increase of 8%; semiconductor revenue sequential increase of 22%Quarterly Non-GAAP net earnings of $66 million, or $1.20 diluted shareQuarterly GAAP net income of $43 million, or $0.77 per diluted shareCompleted $50 million voluntary principal prepayment on January 24, 2020 ANDOVER, Mass., Jan. 28, 2020 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today reported fourth quarter and full year 2019 financial results.\n “We are very pleased with our strong financial performance in the quarter. Our top line growth exceeded our expectations, driven by strong sequential growth in our Semiconductor Market revenue, which increased 22% in the quarter. We believe the increasing breadth of our technology portfolio, and our commitment to innovation and operational excellence uniquely position MKS to address a broad range of growing advanced semiconductor applications. Semiconductor revenue increased across all divisions, confirming our strategy of SAM expansion over the past four years,” said John TC Lee, President and Chief Executive Officer. Mr. Lee added, “Within the Light and Motion and Vacuum and Analysis Divisions, we are encouraged by the continued stabilization of our Advanced Markets revenue, which has been impacted by geopolitical and trade headwinds, and we are particularly excited about the new market opportunities our recently acquired Equipment and Solutions Division provides us.” “We continue to manage our business with a focus on sustainable and profitable growth to achieve strong operating leverage in our financial model. In the quarter, while revenue was above the high-end of our expectations, we continued to manage our cost structure, resulting in non-GAAP operating expenses coming in favorable to the midpoint of our guidance,” said Seth H. Bagshaw, Senior Vice President and Chief Financial Officer. Mr. Bagshaw added, “We are also pleased to announce that on January 24th, we completed a $50 million voluntary principal prepayment on our secured term loan for a total of $150 million in voluntary prepayments since the acquisition of Electro Scientific Industries, Inc. less than a year ago. The cumulative impact of our voluntary prepayments and our successful term loan repricin...