KLA-Tencor results beat estimates
(Reuters) - Chip equipment maker KLA-Tencor Corp's (KLAC.O) second-quarter results exceeded analysts' expectations, helped by increased demand for tablets and smartphones.
KLA-Tencor's products help measure the effectiveness of complicated manufacturing processes and reduce defects, essential for chipmakers implementing challenging new technologies.
Booming sales of smartphones and tablets have fueled the capital spending by chipmakers boosting orders for equipment used in semiconductor assembly.
Net income fell to $107 million, or 63 cents per share, from $122 million, or 72 cents per share, a year earlier, hurt by higher costs.
Revenue rose to $673 million from $642 million.
Analysts on average were expecting a profit of 56 cents per share on $633.8 million in revenue, according to Thomson Reuters I/B/E/S.
(Reporting by Himank Sharma in Bangalore; Editing by Joyjeet Das)
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