By Ian Sherr
SAN FRANCISCO, Oct 29 (Reuters) - Chip-equipment maker KLA-Tencor Corp reported stronger-than-expected quarterly earnings and sales as spending on electronics rose.
KLA-Tencor, which had lost money the three previous quarters, beat Wall Street's expectations handily. However, analysts said investors had bet on a strong performance after good numbers from rivals such as Novellus Systems, which raised its fourth-quarter outlook as demand for consumer electronics begins to recover.
The company, which competes with Applied Materials Inc to provide systems that monitor and analyze chip products, on Thursday reported fiscal first-quarter net income of $20 million, or 12 cents a share, compared with $19 million, or 11 cents a share, a year earlier.
Excluding items, it earned 15 cents a share, sharply ahead of the average analysts' estimate of 2 cents a share, according to Thomson Reuters I/B/E/S.
Revenue for the first quarter fell to $343 million, but exceeded the average Wall Street estimate of $332.5 million.
KLA-Tencor's results are the latest positive sign from the semiconductor industry as demand for consumer electronics begins to recover, particularly spending on personal computers.
Shares of KLA-Tencor closed 3.1 percent higher at $34.28 in regular trading on the Nasdaq and rose another 2.3 percent to $35.10 in after-hours trading.
(Reporting by Ian Sherr; Editing by Leslie Gevirtz and Steve Orlofsky) Keywords: KLATENCOR/ (ian.sherr@thomsonreuters.com; +1 415.677.2542; Reuters Messaging: ian.sherr.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
SAN FRANCISCO, Oct 29 (Reuters) - Chip-equipment maker KLA-Tencor Corp reported stronger-than-expected quarterly earnings and sales as spending on electronics rose.
KLA-Tencor, which had lost money the three previous quarters, beat Wall Street's expectations handily. However, analysts said investors had bet on a strong performance after good numbers from rivals such as Novellus Systems, which raised its fourth-quarter outlook as demand for consumer electronics begins to recover.
The company, which competes with Applied Materials Inc to provide systems that monitor and analyze chip products, on Thursday reported fiscal first-quarter net income of $20 million, or 12 cents a share, compared with $19 million, or 11 cents a share, a year earlier.
Excluding items, it earned 15 cents a share, sharply ahead of the average analysts' estimate of 2 cents a share, according to Thomson Reuters I/B/E/S.
Revenue for the first quarter fell to $343 million, but exceeded the average Wall Street estimate of $332.5 million.
KLA-Tencor's results are the latest positive sign from the semiconductor industry as demand for consumer electronics begins to recover, particularly spending on personal computers.
Shares of KLA-Tencor closed 3.1 percent higher at $34.28 in regular trading on the Nasdaq and rose another 2.3 percent to $35.10 in after-hours trading.
(Reporting by Ian Sherr; Editing by Leslie Gevirtz and Steve Orlofsky) Keywords: KLATENCOR/ (ian.sherr@thomsonreuters.com; +1 415.677.2542; Reuters Messaging: ian.sherr.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
