MKS Instruments reported quarterly consolidated revenue of $589.8 million, up 28% year over year and nearly $46 million from last quarter. The company reported non-GAAP net earnings per share (EPS) of $1.93 — a 72% increase from last year’s third quarter and 31 cents from last quarter. For the quarter, MKS reported a profit of just under $92 million, and $107 million (non-GAAP). The company’s reported GAAP EPS was $1.66, which represents a 33 cent increase from the previous quarter. “We delivered record quarterly revenue for MKS, led by record Semiconductor Market revenue and a recovery in our Advanced Markets revenue,” said John TC Lee, MKS Instruments’ president and CEO. “Demand for our critical enabling technologies in the Semiconductor Market was broad-based across our portfolio and, in particular, for Power Solutions, which has grown more than 110% year on year for the first nine months of 2020 and achieved another quarter of record revenue.” Semiconductor Market revenue totaled $359 million, up 61% year over year and 12% from the previous quarter. Net revenues in Advanced Markets reached $231 million. This represents a sequential increase of 4%. MKS exceeded the Zacks consensus estimate of $1.76 EPS, and total revenue (ZCE $559.6 million). “We are encouraged with the sequential growth in our Advanced Markets, particularly given the anticipated seasonal decline in our Flex PCB drilling business,” Lee said. “We are excited about the long-term opportunities in precision laser processing and our unique positioning to capitalize on them.” “We achieved another increase in our non-GAAP operating margins, marking the fourth consecutive quarterly increase. This demonstrates our continued focus on driving strong operating leverage in our financial model as well as executing on our long-standing commitment to develop innovative solutions for our customers,” said Seth H. Bagshaw, senior vice president and CFO. Prior to releasing its quarterly earnings on Oct. 27, MKS authorized a quarterly cash dividend of 20 cents per share, payable on Dec. 4, 2020, to shareholders of record as of Nov. 23, 2020. During the third quarter, MKS paid a cash dividend of $11 million, or 20 cents per diluted share. The company expects that revenue in the fourth quarter of 2020 could surpass $600 million, plus or minus $25 million. GAAP net income per diluted share would be $1.75, plus or minus 20 cents; non-GAAP net earnings per diluted share could be $2, plus or minus 20 cents, MKS said.