Semiconductor equipment maker KLA-Tencor (KLAC) late Monday beat Wall Street's targets for its fiscal first quarter ended Sept. 30. KLA-Tencor stock jumped on the news.
XThe Milpitas, Calif.-based company earned an adjusted $2.46 a share on sales of $1.09 billion in the quarter. Analysts expected it to earn $2.21 a share on sales of $1.07 billion. In the year-earlier period, it earned $1.80 a share on sales of $969.6 million.
KLA-Tencor stock rose 1.6% in after-hours trading on the stock market today. During the regular session, it fell 2.4%, closing at 85.13 amid a broad market sell-off.
KLA-Tencor makes process control and yield management systems for semiconductor and other nanoelectronics industries.
The company did not provide guidance for the current quarter in its earnings news release.
Wall Street was modeling it to earn $2.18 a share on sales of $1.08 billion in the December quarter. In the year-earlier period, it earned $1.97 a share on sales of $975.8 million.
KLA-Tencor Boasts Diversified Portfolio
"KLA-Tencor delivered another outstanding quarter, demonstrating the company's technology and market leadership, and the compelling value of our diversified product and service portfolio in enabling customer success," Chief Executive Rick Wallace said in a written statement. "We believe these factors uniquely position KLA-Tencor to continue to deliver long-term value to all our stakeholders."
IBD's Electronics-Semiconductor Equipment industry group currently ranks No. 174 out of 197 groups. The group has been depressed by reports of lower capital equipment spending by memory chip makers.
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