SAN FRANCISCOThanks largely to a sharp increase in demand from foundry customers, chip equipment supplier KLA-Tencor Corp. logged better-than-expected sales and returned to profitability in the quarter ended Sept. 30, the company said Thursday (Oct. 29).
KLA-Tencor (Milpitas, Calif.) notched sales for the quarter of $343 million, up 22 percent from the previous quarter, but down 35 percent compared to the year-ago quarter.
The company's GAAP net income for the quarter, the first of its fiscal 2010, was $20 million, up from $19 million in the year ago quarter. For the previous quarter, KLA-Tencor recorded a GAAP net loss of $26 million.
In a statement, Rick Wallace, KLA-Tencor president and CEO, said the company's results for the quarter got a boost from a one-time non-operating gain and by a lower than normal tax rate.
Analysts, on average, had been expecting KLA-Tencor's revenue for the fiscal first quarter of 2010 to be about $323 million, according to Yahoo Finance. The company's non-GAAP earnings per share for the quarter, 15 cents, also exceeded analyst expectations.
KLA-Tencor reported $493 million worth of order in the September quarter, up roughly 50 percent compared to the previous quarter. The company said it expects to report revenue for the December quarter of between $420 million and $450 million.