- MKS Instruments (MKSI -8.2%) reported Q1 revenue decrease of 16.4% Y/Y to $463.56M, with Product revenues of $397.36M (-20% Y/Y) and Services revenue of $66.2M (+14.9% Y/Y). Revenues included two months of results from the acquisition of ESI.
- Advanced Markets sales $243M (+8% Q/Q) and Sales to Semiconductor customers $221M (-6% Q/Q).
- Q1 Gross margin declined by 468 bps to 42.7%; and Adj. gross margin was 43.8% down by 180 bps.
- Q1 Operating margin declined by 1,877 bps to 4.9%; and adj. operating margin was 17.7% down by 600 bps.
- Net cash provided by operating activities was $20.05M, compared to $72.75M a year ago.
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2Q19 Guidance: Revenue $460M to $510M vs $507.96M consensus; EPS $0.56 to $0.93; and Non-GAAP EPS $0.89 to $1.26 vs $1.37 consensus.
- Previously: MKS Instruments beats by $0.05, beats on revenue (April 29)