Shares of KLA-Tencor climbed Friday after the Milpitas maker of inspection equipment for semiconductor manufacturers reported a surge in sales as the chip sector recovers from the Great Recession.
KLA, which reported earnings after the stock markets closed Thursday, said revenue in its most recent quarter nearly doubled from a year earlier to $559 million. Fiscal fourth-quarter profit was $113 million, or 66 cents a share, compared with a $26 million loss a year earlier.
“Robust product demand in each of our major end markets, geographies and product offerings, coupled with solid execution by the KLA-Tencor team resulted in strong financial results in the fourth quarter,” CEO Rick Wallace said in a statement accompanying the results.
Excluding certain costs, KLA said its earnings were 70 cents a share — exceeding Wall Street analysts’ average forecast of 60 cents a share, according to Thomson Reuters. KLA’s sales were slightly above expectations.
KLA stock closed Friday at $31.67, up 85 cents, or 2.8 percent.
Contact Frank Russell at 408-920-5876. Follow him at Twitter.com/mercspike.
