ANDOVER, MA – MKS Instruments announced $868 million in first quarter revenue, up 9.3% from 2023's first quarter.

"MKS delivered strong results in the first quarter despite a soft end-market demand environment," said president and CEO John T.C. Lee. "With markets expected to improve later this year, we are in an outstanding position with critical technologies and deep customer relationships to address the intensifying challenges in the design and manufacturing of advanced electronic devices. From the semiconductor, to the package substrate, and printed circuit board – we are foundational.

"The value of our product portfolio is evident in the strong gross margins we again reported in the first quarter. We are delivering profitability through the value of our differentiated products and technologies, prudent management of our expenses and targeted investments for the long-term. In addition, we remain committed to reducing our debt levels, and I’m pleased that we made another $50 million voluntary debt prepayment in April."

For the second quarter, the company expects revenue of $860 million, plus or minus $40 million.