Facing the Future: Successfully Navigating the Uncertain Path Ahead
It’s Only Common Sense: Going After the Small Wins Fosters a Winning Culture
The Chemical Connection: Surface Finishes for PCBs
MKS Instruments Reports Q2 2023 Financial Results
August 3, 2023 | Globe NewswireEstimated reading time: 1 minute
MKS Instruments, Inc., a global provider of enabling technologies that transform our world, reported second quarter 2023 financial results.
“We delivered strong results in the second quarter, led by solid execution and disciplined cost management,” said John T.C. Lee, President and Chief Executive Officer.
Mr. Lee added, “Longer term, we are very excited about how we are positioned to capitalize on multiple secular tailwinds that are driving our served markets. AI, cloud, virtual reality, and electrification are among the applications powering the need for innovation in advanced electronics devices, and the critical solutions that we have added with the Atotech acquisition have made MKS foundational to enabling that innovation.”
“We delivered revenue and Non-GAAP net earnings per diluted share above the midpoint of our guidance for the quarter and continue to make great progress on the integration of Atotech,” said Seth H. Bagshaw, Executive Vice President and Chief Financial Officer. “The non-cash impairment charges we recorded this quarter, primarily resulting from softer demand in the PC and smartphone markets and higher interest rates, do not temper our enthusiasm for what we are building in Electronics & Packaging. We believe we are poised to benefit from an eventual market recovery.”
Mr. Bagshaw added, “Near-term, we continue to expect MKS’ total revenue in the second half of the year to be slightly higher than first half levels, driven by modest improvements across all three of our end markets. We also expect cash flow to normalize in the third quarter and look forward to making steady progress in de-levering the balance sheet.”
Third Quarter 2023 Outlook
The Company expects for the third quarter of 2023, revenue of $930 million, plus or minus $50 million, Adjusted EBITDA of $210 million, plus or minus $26 million, and Non-GAAP net earnings per diluted share of $0.98, plus or minus $0.29.
Share on:
Suggested Items
Cicor Reports Double-Digit Growth Driven by Integration & M&A
04/15/2025 | CicorThe Cicor Group has made a successful start to the 2025 business year. In the first quarter, sales increased by 22.2 % to CHF 131.1 million (Q1/2024: CHF 107.3 million), while order intake increased by 29.1 % year-on-year to CHF 125.8 million.
Electronic System Design Industry Posts $4.9 Billion in Revenue in Q4 2024
04/15/2025 | SEMIElectronic System Design (ESD) industry revenue increased 11% to $4,927.3 million in the fourth quarter of 2024 from the $4440.9 million reported in the fourth quarter of 2023, the ESD Alliance, a SEMI Technology Community, announced in its latest Electronic Design Market Data (EDMD) report.
Intel Announces Strategic Investment by Silver Lake in Altera
04/14/2025 | IntelIntel Corporation announced that it has entered into a definitive agreement to sell 51% of its Altera business to Silver Lake, a global leader in technology investing.
FTG Announces Q1 2025 Financial Results
04/10/2025 | Firan Technology Group CorporationIn Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth.
Kitron Lifts Outlook for 2025
04/03/2025 | KitronKitron updates its financial outlook due to strong demand within the Defence/Aerospace market sector along with a gradual recovery in other segments.