MKS Instruments posts 1Q 2006 sales up 40%

MKS Instruments, Inc., which provides control technologies for processes including thin film manufacturing for architectural glass and flat panel displays, posted net sales for the 1Q 2006 of USD 179….

MKS Instruments, Inc., which provides control technologies for processes including thin film manufacturing for architectural glass and flat panel displays, posted net sales for the 1Q 2006 of USD 179.1 million, up 40.5% from USD 127.4 million in the 1Q 2005. GAAP net earnings for the quarter increased to USD 15.4 million, or USD 0.28 per diluted share, compared to 1Q 2005 GAAP net earnings of USD 5.5 million, or USD 0.10 per diluted share. Due to the adoption of FAS 123[R], 1Q 2006 GAAP net earnings included stock-based compensation expense of USD 1.7 million, or USD 0.03 per share, net of tax. Non-GAAP earnings for the 1Q 2006 (excluding amortization of acquired intangible assets, special items and stock-based compensation) increased to USD 21.3 million, or USD 0.39 per share, compared to 1Q 2005 non-GAAP earnings of USD 8.0 million, or USD 0.15 per share Chief Executive Officer and President Leo Berlinghieri said, “Our sales grew by 39% sequentially, and excluding a full quarter of sales from two technology acquisitions, Ion Systems and Umetrics, our organic sales growth rate was 31%. We achieved significant sales growth on strong order momentum from semiconductor capital equipment manufacturers. Sales to semiconductor device manufacturers, and thin film and other markets also increased”. Mr. Berlinghieri continued, “After a very strong 1Q, we estimate that our 2Q sales could increase by 3 to 6% and range from USD 185 to USD 190 million. GAAP net earnings could range from USD 0.33 to USD 0.36 per diluted share on approximately 56 million shares outstanding, which includes USD 0.04 per share of stock-based compensation expense. Non-GAAP earnings, which exclude amortization of acquired intangible assets, special items and stock-based compensation, could range from USD 0.41 to USD 0.44 per share”.