Press release
MKS Instruments Reports Third Quarter 2021 Financial Results
Revenue of $742 million, up 26% year-over-yearNon-GAAP net earnings of $155 million, up 45% year-over-year, and GAAP net income of $132 million, up 44%
About this update from Mks Inc.
[{"type":"text","content":"Revenue of $742 million, up 26% year-over-yearNon-GAAP net earnings of $155 million, up 45% year-over-year, and GAAP net income of $132 million, up 44% year-over-yearOperating cash flow of $153 million, up 1% year-over-year, and free cash flow of $133 million, up 8% year-over-year ANDOVER, Mass., Oct. 27, 2021 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today reported third quarter 2021 financial results. “Despite facing supply chain constraints in the third quarter, we delivered strong results exceeding the midpoint of our guidance,” said John T.C. Lee, President and Chief Executive Officer. “Revenue from our Semiconductor Market accelerated further, led by robust demand for our RF Power solutions in advanced etch applications, while revenue from our Advanced Markets grew 10% year-over-year in a traditionally softer quarter.” Mr. Lee added, “Our pending acquisition of Atotech is proceeding as planned, and we continue to expect the transaction to close by the end of 2021. We are very excited to welcome the talented Atotech team to MKS and combine our world-class expertise and capabilities to provide foundational solutions for the age of miniaturization and complexity.” “We delivered strong year-over-year growth in our third quarter Non-GAAP operating margin that exceeded the midpoint of our guidance, despite supply chain constraints and rising input costs. This was made possible by our strong execution and cost management,” said Seth H. Bagshaw, Senior Vice President and Chief Financial Officer. Mr. Bagshaw added, “We are pleased to have successfully syndicated our debt financing in connection with the Atotech acquisition. The syndication was well over-subscribed, which is a testament to our strong financial model and track record of successful acquisitions and de-leveraging.” Fourth Quarter 2021 Outlook Based on current business levels and certain supply chain constraints and excluding any contribution from Atotech Limited, the Company expects revenue in the fourth quarter of 2021 of $760 million, plus or minus $30 million. At these volumes, the Company expects Non-GAAP net earnings per diluted share of $2.85, plus or minus $0.26. Conference Call Details A conference call with management will be held on Thursday, October 28,...