KLA shares drop following second-quarter profit miss

Shares of KLA

declined 6% in after-hours trading Thursday after the company posted a profit miss in its fiscal second quarter amid weaker demand levels.

The Milpitas, Calif.-based company, which makes equipment for the semiconductor industry, posted a net profit of $582.5 million, or $4.28 a share, compared with $978.8 million, or $6.89 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $5.66.

Revenue fell to $2.49 billion from $2.98 billion a year earlier, beating the $2.46 billion expected by analysts polled by FactSet.

The company is forecasting fiscal third quarter revenue of $2.3 billion, plus or minus $125 million. Analysts polled by FactSet expect $2.45 billion in revenue.

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