MKS reveals first-quarter financial results

Technology supplier MKS Instruments has revealed its first-quarter 2010 financial results, posting sales of $198.1m (£128.6m) – an increase of 33 per cent from $149.3m in the fourth quarter of 2009 and an increase of 158 per cent from $76.7m in the first quarter of 2009.

First-quarter net income was $29.2m, or $0.58 per diluted share, compared to net income of $14.9m, or $0.30 per diluted share, in the fourth quarter of 2009 and a net loss of $16.5m, or $0.34 per basic share, in the first quarter of 2009.

Non-GAAP net earnings, which exclude special items, were $29.2m, or $0.58 per diluted share, compared to $15.5m, or $0.31 per diluted share, in the fourth quarter of 2009 and a net loss of $11.0m, or $0.23 per basic share, in the first quarter of 2009.