Earnings Review and Free Research Report: MKS Instruments’ Q2 Results Topped Market Forecasts

Research Desk Line-up: Cognex Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on MKS Instruments, Inc. (NASDAQ: MKSI), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MKSI, following the Company's posting of its financial results on October 24, 2017, for the third quarter fiscal 2018 (Q3 FY17). The Andover, Massachusetts-based Company's net revenues grew 28% y-o-y, while it non-GAAP EPS surged during the reported quarter, outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Scientific & Technical Instruments industry. Pro-TD has currently selected Cognex Corporation (NASDAQ: CGNX) for due-diligence and potential coverage as the Company announced on October 30, 2017, its financial results for Q3 2017 which ended on October 01, 2017. Register for a free membership today, and be among the early birds that get access to our report on Cognex when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MKSI; also brushing on CGNX. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

MKS Instruments reported a quarterly record total net revenue of $486.27 million in Q3 FY17, which was above $380.66 million recorded in Q3 FY16. Total net revenues numbers topped market consensus estimate of $477 million for Q3 FY17. During the reported quarter, the Company's products revenues rose to $434.71 million in Q3 FY17 from $335.16 million in Q3 FY16. Furthermore, services revenues also increased to $51.56 million in Q3 FY17 from $45.50 million in Q3 FY16.

The scientific & technical instruments Company's net income from continuing operations came in at $75.99 million, or $1.38 per diluted share, for Q3 FY17 compared to $32.55 million, or $0.60 per diluted share, in Q3 FY16. The Company's non-GAAP net earnings for Q3 FY17 stood at $85.87 million, or $1.56 per diluted share, versus $47.87 million, or $0.88 per diluted share, in the year-ago same period. Meanwhile, Wall Street had expected non-GAAP net earnings of $1.46 per diluted share.

Operating Metrics

For Q3 FY17, the Company's non-GAAP gross profit came in at $228.00 million compared to $173.36 million in the year-ago same period. Non-GAAP gross margin as a percentage of net revenues stood 46.9% in Q3 FY17 versus 45.5% in the prior year's comparable quarter

MKS Instruments' selling, general, and administrative (SG&A) expenses were $71.84 million for Q3 FY17 compared to $68.02 million in Q3 FY16. The Company's research and development (R&D) expenses increased marginally to $32.55 million in Q3 FY17 from $32.27 million in the previous year's corresponding period. During the reported quarter, non-GAAP income from operations rose to $124.10 million from $73.07 million in the last year comparable quarter. Meanwhile, non-GAAP operating margin improved to 25.5% in Q3 FY17 from 19.2% in Q3 FY16.

Cash Flow and Balance Sheet

In the nine months ended September 30, 2017, MKS Instruments' net cash provided by operating activities was $274.44 million versus $127.38 million in the first three-quarters of FY16. As on September 30, 2017, the Company had cash and cash equivalents balance of $305.98 million compared to a balance of $228.62 million as on December 31, 2016. Furthermore, long-term debt as of September 30, 2017, stood at $435.73 million compared to $601.23 million as on December 31, 2016.

Dividend

In a separate press release on October 31, 2017, MKS Instruments' Board of Directors hiked the quarterly cash dividend by 3% to $0.18 per share, payable on December 08, 2017, to shareholders of record as of November 27, 2017.

Earnings Outlook

In its guidance for Q4 FY17, MKS Instruments anticipates revenues from $480 million to $520 million. The Company projects adjusted earnings for the upcoming quarter in the range of non-GAAP net earnings in the range of $1.52 per diluted share to $1.76 per diluted share.

Stock Performance

At the closing bell, on Monday, November 06, 2017, MKS Instruments' stock marginally slipped 0.09%, ending the trading session at $107.50. A total volume of 485.81 thousand shares have exchanged hands, which was higher than the 3-month average volume of 465.29 thousand shares. The Company's stock price skyrocketed 34.54% in the last three months, 34.88% in the past six months, and 121.19% in the previous twelve months. Moreover, the stock soared 80.98% since the start of the year. The stock is trading at a PE ratio of 19.24 and has a dividend yield of 0.65%. The stock currently has a market cap of $5.81 billion.

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