MKS Instruments (NASDAQ: MKSI) reported Q3 EPS of $1.88, $0.16 better than the analyst estimate of $1.72. Revenue for the quarter came in at $487 million versus the consensus estimate of $492.88 million.

“Despite the recent moderation in the semiconductor market, we are pleased with our strong financial results for the third quarter, reflecting our ability to manage through these cycles," said Gerald Colella, Chief Executive Officer. "Although we foresee the semiconductor market will continue to face headwinds in the near term, exiting the third quarter we have seen that our semiconductor business has been more steady and consistent. We are very optimistic on the long-term growth drivers within the semiconductor market. Moreover, we have continued to diversify our markets, customers and product portfolio and are on target to grow our Advanced Markets more than two times faster than the overall market.”

“The acquisition of Newport Corporation, which was completed two years ago, coupled with strong organic growth has continued to expand our portion of revenue from Advanced Markets,” said Seth Bagshaw, Chief Financial Officer. “In the past five years, we have grown our Advanced Market revenue from approximately $211 million in 2013 to approaching over $900 million in 2018. Advanced Markets represented approximately 47% of consolidated revenue in the third quarter and year to date revenue increased almost 20% from the same period a year ago.”

GUIDANCE:

MKS Instruments sees FY2018 EPS of $1.34-$1.64, versus the consensus of $1.81.

For earnings history and earnings-related data on MKS Instruments (MKSI) click here.