Press release
MKS Instruments Reports Fourth Quarter And Full-Year 2022 Financial Results
Record quarterly revenue of $1.09 billion, up 42% year-over-year, exceeding the high-end of guidanceQuarterly GAAP net income per diluted share of $0.81 and
About this update from Mks Inc.
[{"type":"text","content":"Record quarterly revenue of $1.09 billion, up 42% year-over-year, exceeding the high-end of guidanceQuarterly GAAP net income per diluted share of $0.81 and quarterly Non-GAAP net earnings per diluted share of $2.00, exceeding the high-end of guidanceQuarterly GAAP net income of $54 million and quarterly Adjusted EBITDA of $282 million, exceeding the high-end of guidanceQuarterly operating cash flow of $184 million and free cash flow of $130 millionRecord annual revenue of $3.55 billion, up 20% year-over-year ANDOVER, Mass., Feb. 27, 2023 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that transform our world, today reported fourth quarter and full year 2022 financial results. The Company also announced that it will be filing a Form 12b-25 with the SEC today, as it requires additional time to file its Form 10-K for the year ended December 31, 2022 due to the ransomware event it identified on February 3, 2023. “Fourth quarter revenue and Non-GAAP EPS exceeded the high-end of our guidance range, capping an important year for MKS in which we firmly established the company as a foundational technology solutions provider focused on the core building blocks of advanced electronic devices,” said John T.C. Lee, President and Chief Executive Officer. Mr. Lee added, “We are well into the recovery phase of our manufacturing and service operations following the ransomware incident identified on February 3rd, and we expect these operations will be restored over the coming weeks. I am very thankful for our dedicated employees who have worked tirelessly to help bring interrupted systems back online. Our team is focused on making up for lost time, delivering on our commitments and meeting the needs of our customers, whose support during the past weeks we’ve greatly appreciated.” “We delivered strong revenue and profitability in the fourth quarter as a result of solid operational execution,” said Seth H. Bagshaw, Executive Vice President and Chief Financial Officer. “We also generated strong free cash flow in the quarter, as evidenced by a $100 million voluntary term loan prepayment made in December.” Mr. Bagshaw added, “We are looking forward to returning to solid growth and profitability as our business normalizes, with a focus on driving attractive gross margins associated with our proprietary and ...