DOW JONES NEWSWIRES
KLA-Tencor Corp. (KLAC) swung to a fiscal fourth-quarter profit as revenue doubled, and the semiconductor-equipment maker's results topped Wall Street's expectations.
President and Chief Executive Rick Wallace pointed to "robust product demand in each of our major end markets, geographies and product offerings."
KLA-Tencor, which makes systems that monitor semiconductor wafer production, has returned to black ink in the past few quarters as a sharp rebound in demand boosted sales at chip makers. Rival Lam Research Corp. (LRCX) on Wednesday reported it swung to a second-quarter profit as revenue more than tripled.
For the quarter ended June 30, KLA-Tencor reported a profit of $113.1 million, or 66 cents a share, compared with a year-earlier loss of $25.6 million, or 15 cents a share. The latest quarter included 4 cents of charges. Revenue jumped 99% to $559.4 million.
Analysts estimated earnings of 60 cents on revenue of $558.2 million, according to a poll by Thomson Reuters.
Products sales, which provided 77% of total revenue, more than doubled, while service fees climbed 23%.
KLA-Tencor's shares closed at $30.82 and were inactive after-hours. The stock, which reached a 52-week low this month, was down 15% this year as of the close.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com