RTTNews | Jan 27, 2021 10:23PM EST

22:22 Wednesday, January 27, 2021 (RTTNews.com) - MKS Instruments Inc. (MKSI) reported that its net income for the fourth quarter of 2020 was $116 million or $2.08 per share, up from $43 million or $0.77 per share in the fourth quarter of 2019.

Non-GAAP net earnings were $130 million or $2.34 per share compared to $66 million or $1.20 per share in the previous year.

Net revenues for the fourth quarter were $660 million, an increase of 32% from $500 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.02 per share and revenues of $602.98 million for the fourth-quarter. Analysts' estimates typically exclude special items.

The company expects revenue in the first quarter of 2021 of $650 million, plus or minus $25 million. At these volumes, the Company expects GAAP net income per share of $1.91, plus or minus $0.20 and Non-GAAP net earnings per share of $2.16, plus or minus $0.20. Analysts expect the company to report earnings of $1.96 per share and revenues of $603.6 million for the first-quarter.

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