KLA-Tencor Posts Higher 1Q Profit; Sees Sharp Rise In Demand
By Benjamin Pimentel
KLA-Tencor Corp. (KLAC) on Thursday reported a higher fiscal first-quarter
profit, aided by what Chief Executive Rick Wallace said was "a sharp increase in
demand from foundry customers."
Shares of KLA-Tencor rose 1.3% in after-hours trading after the company
reported a fiscal first-quarter profit of $20 million, or 12 cents a share,
compared with a profit of $19 million, or 11 cents a share, for the year-earlier
period.
Revenue was $343 million, down from $533 million for the same quarter last
year. Adjusted income was 15 cents a share.
Analysts had expected the Milpitas, Calif.-based maker of semiconductor-
manufacturing equipment to report a profit of 2 cents a share on revenue of $332
million, according to a consensus survey by Thomson Reuters.
The semiconductor capital-equipment industry had been hit by a slump in demand
as the broader chip market reeled from one of the most severe downturns in its
history.
But in a prepared statement, Wallace said the company posted "stronger-than-
expected results" based on "a sharp increase in demand from foundry customers."
"As our customers increase their technology investments at the leading edge,
we are advancing our market leadership while remaining focused on cost
discipline," he added.
-By Benjamin Pimentel; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
10-29-091811ET
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