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Versum Materials meets 2Q profit forecasts

TEMPE, Ariz. (AP) _ Versum Materials Inc. (VSM) on Tuesday reported fiscal second-quarter net income of $44.9 million. On a per-share basis, the Tempe, Arizona-based company said it had profit of 41 cents. Earnings, adjusted for restructuring costs, came to 44 cents per share. The results met...

TEMPE, Ariz. (AP) _ Versum Materials Inc. (VSM) on Tuesday reported fiscal second-quarter net income of $44.9 million.

On a per-share basis, the Tempe, Arizona-based company said it had profit of 41 cents. Earnings, adjusted for restructuring costs, came to 44 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 44 cents per share.

The supplier of specialty materials to the semiconductor industry posted revenue of $270.8 million in the period.

Versum Materials expects full-year revenue in the range of $1.02 billion to $1.07 billion.

Versum Materials shares have increased 13 percent since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSM at https://www.zacks.com/ap/VSM

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Keywords: Versum Materials, Earnings Report

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