MKS Instruments, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015
January 28, 2015 at 04:34 pm
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MKS Instruments, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's total net revenues were $203.1 million compared with $204.39 million a year ago. Income from operations was $38.55 million compared with $30.95 million a year ago. Income before income taxes was $38.94 million compared with $31.15 million a year ago. Net income was $34.19 million or $0.64 per basic and diluted share compared with $20.23 million or $0.38 per basic and diluted share a year ago. Non-GAAP net earnings were $29.05 million or $0.54 per share compared with $22.32 million or $0.42 per share a year ago. Non-GAAP income from operations was $40.77 million compared with $34.13 million a year ago.
For the year, the company's total net revenues were $780.86 million compared with $669.42 million a year ago. Income from operations was $135.14 million compared with $58.38 million a year ago. Income before income taxes was $136.39 million compared with $59.3 million a year ago. Net income was $115.77 million or $2.16 per basic and diluted share compared with $35.77 million or $0.67 per basic and diluted share a year ago. Non-GAAP net earnings were $101.17 million or $1.89 per share compared with $48.38 million or $0.90 per share a year ago. Non-GAAP income from operations was $145.22 million compared with $69.99 million a year ago. Total book value, net of goodwill and intangibles, was $843 million or approximately $15.86 per share.
For the first quarter ending March 31, 2015, the company expects GAAP net income in the range of $23,100,000 to $30,800,000 or $0.43 to $0.57 per share. Non-GAAP net earnings to be in the range of $24,300,000 to $32,000,000 or $0.45 to $0.60 per share. The company expects sales may range from $195 to $215 million. The company expected first quarter of 2015 income tax rate to be approximately 29%, reflecting the anticipated geographical mix of taxable income and includes the impact of the expiration of a U.S. research and development tax credit at the end of 2014.
MKS Instruments, Inc. is engaged in delivering technology solutions. The Company's segments include Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Materials Solutions Division (MSD). The VSD segment delivers technology solutions to edge semiconductor manufacturing, electronics and packaging and specialty industrial applications. VSD products are derived from its core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, and vacuum technology. The PSD segment provides a range of instruments, components, and subsystems to semiconductor manufacturing, electronics and packaging and specialty industrial applications. The MSD segment develops process and manufacturing technologies for advanced surface modification, electroless and electrolytic plating, and surface finishing.
MKS Instruments, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015
MKS INSTRUMENTS, INC. 
