KLA-Tencor 1st quarter net income declines
MILPITAS, Calif. (AP) — KLA-Tencor, which makes equipment for manufacturing semiconductors, said Thursday that its fiscal first-quarter net income fell 30 percent, hurt by weak demand across its industry.
CEO Rick Wallace said economic uncertainty has caused its customers to delay expansion plans.
Net income for the three months ended Sept. 30 fell 30 percent to $135.4 million, or 80 cents per share. That compares with $192 million, or $1.13 per share, last year. Excluding one-time items, adjusted income was 84 cents per share.
Revenue fell 10 percent to $720.7 million.
Analysts expected 89 cents per share on revenue of $740.7 million, according to FactSet.
Based in Milpitas, Calif., KLA-Tencor serves customers in the semiconductor, data storage, LED and other nanoelecronics industries.
Shares fell 3 cents to $47.11 in after-hours trading.