Press release
MKS Instruments Reports Second Quarter 2022 Financial Results
Record revenue of $765 million, up 3% sequentially and above high-end of guidanceRecord Semiconductor Market revenue of $515 million, up 6% sequentially and
About this update from Mks Inc.
[{"type":"text","content":"Record revenue of $765 million, up 3% sequentially and above high-end of guidanceRecord Semiconductor Market revenue of $515 million, up 6% sequentially and 19% year-over-yearNon-GAAP net earnings per diluted share of $2.59, above high-end of guidance, and GAAP net income per diluted share of $2.32 ANDOVER, Mass., July 27, 2022 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today reported second quarter 2022 financial results. “We delivered an excellent quarter of record revenue and strong profitability, exceeding the high-end of our expectations despite continued supply chain and inflationary challenges,” said John T.C. Lee, President and Chief Executive Officer. “Revenue from our Semiconductor Market reached another record, driven by robust demand across our Vacuum Solutions and Photonics Solutions divisions. MKS’ broad portfolio provides the fundamental building blocks for semiconductor manufacturing, and we are uniquely positioned to capitalize on the long-term secular trends in this industry.” Mr. Lee added, “Revenue from our Advanced Electronics Market was consistent with our expectations, as spending in the Flexible PCB industry remained muted. Revenue from our Specialty Industrial Market remained steady, also consistent with our expectations. “We continue to work constructively with China’s State Administration for Market Regulation on our pending acquisition of Atotech Limited. We look forward to the closing, which will represent a transformational step in our strategy of becoming a foundational solutions provider in Advanced Electronics, while also strengthening our Specialty Industrial Market with an attractive General Metal Finishing portfolio.” “We are pleased with our Non-GAAP gross and operating margin performance, which exceeded our expectations,” said Seth H. Bagshaw, Senior Vice President and Chief Financial Officer. “This is a testament to our culture of operational excellence, our ability to manage costs, and our exciting returns-based organic investment strategy across a number of opportunities.” Mr. Bagshaw added, “Our balance sheet is in a strong position, and after the close of the pending acquisition of Atotech, we expect the cash generation of the combined company to be robust, underpinning our strategy...