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MKS Instruments (MKSI) Beats on Q1 Earnings and Revenues
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MKS Instruments Inc. (MKSI - Free Report) reported first-quarter 2018 adjusted earnings of $2.07 per share, which beat the Zacks Consensus Estimate of $1.99 and increased 63% year over year.
Revenues of $554.3 million surpassed the Zacks Consensus Estimate of $531 million and came in 26.8% higher than the prior-year figure.
Quarter Details
Products revenues (89.6% of total revenues) during the quarter came in at $496.7 million, up 28% from the year-ago quarter. Services revenues (10.4%) increased 17.1% year over year to $57.6 million.
Sales to semiconductor customers increased 26% year over year to $313 million. Sales to advanced markets were $241 million, up 28% from the year-ago quarter.
The company’s Vacuum and Analysis segment reported sales of $348 million, an increase of 25% year over year. Sales from the Light and Motion Division were $206 million, up 29% from the prior-year period.
Margins
The company’s gross profit margin for the quarter came in at 47.4%, expanding 40 basis points (bps) year over year.
Research & development and sales, general & administrative expenses as a percentage of revenues declined 130 bps and 200 bps, respectively. This was partially offset by higher restructuring charges and environmental costs.
The company reported non-GAAP operating income of $145.05 million in the quarter, up 47.3% from the year-ago quarter.
Adjusted operating margin in the reported quarter was 26.2%, which expanded 370 bps on a year-over-year basis.
MKS Instruments, Inc. Price, Consensus and EPS Surprise
Long-term earnings growth rate for Lam Research, Micron and Western Digital is projected to be 17.7%, 10% and 19%, respectively.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
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MKS Instruments (MKSI) Beats on Q1 Earnings and Revenues
MKS Instruments Inc. (MKSI - Free Report) reported first-quarter 2018 adjusted earnings of $2.07 per share, which beat the Zacks Consensus Estimate of $1.99 and increased 63% year over year.
Revenues of $554.3 million surpassed the Zacks Consensus Estimate of $531 million and came in 26.8% higher than the prior-year figure.
Quarter Details
Products revenues (89.6% of total revenues) during the quarter came in at $496.7 million, up 28% from the year-ago quarter. Services revenues (10.4%) increased 17.1% year over year to $57.6 million.
Sales to semiconductor customers increased 26% year over year to $313 million. Sales to advanced markets were $241 million, up 28% from the year-ago quarter.
The company’s Vacuum and Analysis segment reported sales of $348 million, an increase of 25% year over year. Sales from the Light and Motion Division were $206 million, up 29% from the prior-year period.
Margins
The company’s gross profit margin for the quarter came in at 47.4%, expanding 40 basis points (bps) year over year.
Research & development and sales, general & administrative expenses as a percentage of revenues declined 130 bps and 200 bps, respectively. This was partially offset by higher restructuring charges and environmental costs.
The company reported non-GAAP operating income of $145.05 million in the quarter, up 47.3% from the year-ago quarter.
Adjusted operating margin in the reported quarter was 26.2%, which expanded 370 bps on a year-over-year basis.
MKS Instruments, Inc. Price, Consensus and EPS Surprise
MKS Instruments, Inc. Price, Consensus and EPS Surprise | MKS Instruments, Inc. Quote
Balance Sheet and Cash Flow
MKS Instruments exited the quarter with cash and cash equivalents of $340.89 compared with $333.89 million as of Dec 31, 2017.
Long-term debt was $341.3 million, down from $390 million as of Dec 31, 2017.
As of Mar 31, 2018, cash from operating activities was $72.77 million compared with $66.06 million in the previous quarter.
Outlook
MKS Instruments anticipates to report revenues within $550-$590 million and earnings within $2.09-$2.36 for second-quarter 2018.
Zacks Rank and Other Stocks to Consider
MKS Instruments carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector include Lam Research Corporation (LRCX - Free Report) , Micron Technology (MU - Free Report) and Western Digital (WDC - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Long-term earnings growth rate for Lam Research, Micron and Western Digital is projected to be 17.7%, 10% and 19%, respectively.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>