MKS Instruments Falls On Weak Semi Equipment Sales

MKS Instruments (MKSI) this morning is the latest casualty of depressed demand in the semiconductor equipment sector.

The company posted Q2 revenue of $171 million and non-GAAP profits of 21 cents a share, falling short of the Street consensus of $175 million and 25 cents. For Q3, the company sees revenue of $155 million to $165 million, with non-GAAP profits of 12-19 cents a share. The Street consensus had been $174.3 million and 25 cents.

MKS said that the company saw “sharply lower demand” in the latest quarter in its semiconductor segment, but added that its solar business “continued to ramp.” In Q3, the company expects “incremental weakness in semiconductor capital equipment spending.”

MKSI this morning is down $4.20, or 17.2%, to $20.20.