ANDOVER, Mass. (AP) ¿ MKS Instruments Inc., which makes analysis and processing equipment for semiconductor companies, raised its third-quarter earnings and revenue guidance on Monday, saying chip sales are climbing. The company said earnings after one-time items could range between 2 cents to 4 cents per share, bringing it to profitability on an adjusted basis. Previously, the company expected a net loss of 7 cents to 18 cents per share. The company also said revenue could range between $105 million and $107 million, exceeding the high end of its earlier guidance of $92 million. Analysts surveyed by Thomson Reuters, whose estimates typically exclude one-time items, expect a loss of 10 cents per share, on average. The company said the improved outlook reflects higher sales at its customers, semiconductor makers. Chip sales are higher and equipment utilization rates are now higher than 95 percent, MKS said. MKS is scheduled to report results on Oct. 22. Shares of MKS closed Friday at $18.77.
More from Technology
Trade Desk Is Oversold but the Trend Is Still Pointed Down
Stocks can go down too fast but that does not necessarily make them a buy.
Cisco's Reported Buyout Offer for Datadog Drives Home Its Software Ambitions
The networking giant was reportedly willing to pay much more than $7 billion for infrastructure and app monitoring software firm Datadog, which delivered a strong IPO on Thursday.
Softbank's Deflated Bets on WeWork and Uber Show It Needs a New Vision
The deflation of Uber and of WeWork shows that you can only go so far when you sacrifice disciplined investing to the greed that comes with easy money.
Walgreens Testing On-Demand Drone Delivery with Alphabet's Wing Aviation
The pilot program, set for next month in Christiansburg in western Virginia, will offer store-to-door delivery of the drugstore chain's products.
Dominion Energy to Build Largest Offshore Wind Project in U.S.
Dominion says the project off the Virginia coast will include more than 220 wind turbines and power up to 650,000 homes at peak.