Chip manufacturing equipment maker KLA-Tencor Corp. said Thursday that it swung to a profit in its fiscal fourth quarter as revenue nearly doubled.
For the quarter ended June 30, net income rose to $113.1 million, or 66 cents per share, in the three months ended June 30. That compares with a loss of $25.6 million, or 15 cents per share, in the year-earlier period.
Excluding one-time items, adjusted net income was 70 cents per share in the latest quarter.
Analysts polled by Thomson Reuters expected, on average, earnings of 60 cents per share. Analysts typically exclude one-time items.
Revenue climbed to $559 million from $282 million. Analysts expected revenue of $558.2 million.
For the full fiscal year, KLA-Tencor posted net income of $212 million, or $1.23 per share, compared with a loss of $523.4 million, or $3.07 per share, a year earlier. Revenue rose to $1.82 billion from $1.52 billion.
Shares of the company fell 9 cents to close at $30.82.