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(RTTNews) – MKS Instruments Inc. (MKSI) reported that its third quarter net income dropped to $6 million or $0.09 per share from $132 million or $2.38 per share in the prior year.
Total net revenues for the quarter grew to $954 million from $742 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $2.40 per share and revenues of $946.71 million for the quarter. Analysts’ estimates typically exclude special items.
The company expects revenue in the fourth quarter of 2022 of $1.00 billion, plus or minus $50 million. It expects Non-GAAP net earnings per share of $1.34, plus or minus $0.27. Analysts expect the company to report earnings of $2.26 per share and revenues of $1.10 billion for the fourth quarter.
MKSI closed Thursday regular trading at $79.96 down $3.47 or 4.16%. In the after-hours trade, the stock down $6.46 or 8.08%.
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