Slide 1: First Quarter 2021 Financial Results
First Quarter 2021 MKS Instruments, Inc. Financial Results April 27, 2021
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financial
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non- GAAP financial measures”). These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ report
Slide 4: Q1'21 Results
Q1‘21 Results Q1’21 Q4’20 Q1’20 Q/Q Y/Y REVENUE $694M $660M $536M 5% 30% NON-GAAP EPS $2.56 $2.34 $1.54 9% 66% GAAP EPS $2.20 $2.08 $1.25 6% 76% ADVANCED SEMICONDUCTOR MARKETS MARKET 41% 59% 4
Slide 5: Q1'21 Market Highlights
Q1’21 Market Highlights Semiconductor Market Advanced Markets REVENUE $412M REVENUE $282M Q/Q GROWTH +5% Q/Q GROWTH +6% Y/Y GROWTH +32% Y/Y GROWTH +27% ● Record revenue for Pressure, Flow and Valve ● Growing demand in our Advanced Electronics solutions Manufacturing ● Another exceptional quarter in
Slide 6: Significant Market Share Gains in 2020 Validated By VLSI
Significant Market Share Gains in 2020 Validated By VLSI ● More than 2% of share gain in overall ● More than 6% of share gain in Remote Critical Subsystems Plasma Sources ● Almost 10% of share gain in RF Power ● Gains in other critical vacuum subsystems - Supplies - MKS now “neck and neck” Pressure
Slide 7: Semiconductor Market – Powerful Secular Trends
Semiconductor Market – Powerful Secular Trends Semiconductor demand to grow, driven by explosion in data and the need to store, transmit, and process it More leading-edge chips are required, placing additional demands on the capital equipment ecosystem to drive technology breakthroughs Technology br
Slide 8: Revenue & Select Financial Measures
Revenue & Select Financial Measures Q1’21 Q4’20 Q1’20 Q1’21 Summary Advanced Markets $282M $267M $223M ● Record revenue, +5% Q/Q, +30% Y/Y, Semiconductor Market $412M $393M $313M above the high end of guidance Revenue $694M $660M $536M Non-GAAP Financial Measures ● Record Advanced Markets revenue Gr
Slide 9: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q1’21 Q4’20 Q1’20 Cash & Short-Term Investments $910M $836M $503M ● Exited Q1’21 with $910M of cash and Accounts Receivable $421M $393M $381M short-term investments Inventories $515M $501M $474M ● Remain focused on improving cash Total Current Assets $1,922M $1,804M $1,457M
Slide 10: Q2'21 Guidance
Q2’21 Guidance Q2’21 Q1’21 Revenue $740M +/- $30M $694M ● Revenue from both Semiconductor Non-GAAP Financial Measures Market and Advanced Markets expected to grow sequentially Gross Margin 47.0% +/- 100 bps 46.4% Operating Expenses $146M +/- $4M $143M ● Non-GAAP gross margin reflects anticipated pro
Slide 11: . : Sees
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Slide 12: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q1'21 Q4'20 Q1'20 Q1'21 Q4'20 Q1'20 Net income $ 122.3 $ 115.6 $ 69.1 Operating expenses $ 166.6 $ 154.9 $ 149.7 Acquisition and integration costs (Note 1) 6.2 0.4 2.2 Acquisition and integration costs (Note 1) 6.2 0.4 2.2 Amortization of intangible assets
Slide 13: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q1'21 Q4'20 Income Provision Income Provision Before (benefit) for Effective Before (benefit) for Effective Income Tax Income Taxes Tax Rate Income Tax Income Taxes Tax Rate GAAP $ 148.2 $ 25.9 17.5% $ 140.5 $ 24.9 17.7% Acquisition and integration costs (
Slide 14: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'21 Guidance Percentage Plus or Minus GAAP and Non-GAAP gross margin 47.0% 1.0% Amount Plus or Minus Amount Plus or Minus Per Share Plus or Minus GAAP operating expenses $ 160.5 $ 4.0 GAAP net income $ 150.4 $ 14.5 $ 2.70 $ 0.26 Amortization of intangibl
Slide 15: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS' reported GAAP results, and may be different from Non-GAAP financial