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MKS Instruments, Inc. reported strong first quarter 2024 financial results with revenue of $868 million, exceeding guidance. Quarterly GAAP net income was $15 million with net income per share of $0.22. Adjusted EBITDA was $217 million with Non-GAAP net earnings per diluted share of $1.18, beating guidance expectations. The company emphasized its strong gross margins, profitability, debt reduction efforts, and targeted investments for the long-term. MKS Instruments provided outlook for the second quarter of 2024 with revenue expected to be $860 million, plus or minus $40 million. The positive financial results were achieved despite a soft end-market demand environment.
MKS Instruments, Inc. declared a quarterly cash dividend of $0.22 per share, payable on June 7, 2024, to shareholders of record as of May 28, 2024. The company's Board of Directors authorized this dividend, with future declarations subject to their final determination.
MKS Instruments, Inc. (NASDAQ: MKSI) has received the Samsung Electro-Mechanics (SEMCO) Supplier Excellence Award for its outstanding partnership and innovation in developing and trial production of new products with MKS' Atotech team in Korea. The recognition highlights the strong cooperation and trust built over 24 years, focusing on continuous innovation and quality management. MKS' proactive technical support and problem-solving skills were key factors in receiving this award, leading to the optimization of mass production processes for plating chemicals and equipment.