UPDATE 1-KLA-Tencor posts quarterly revenue below estimates
SAN FRANCISCO, Oct 25 (Reuters) - KLA-Tencor Corp posted fiscal first-quarter revenue below expectations as chipmakers, worried about the economy, held off on new orders of manufacturing equipment.
With dwindling demand for PCs, Intel and memory chipmakers have been scaling back investment plans for new technology and manufacturing capacity.
Booming sales of smartphones and tablets have fueled the chip industry in recent years but even chipmakers focusing on those devices have been hurt by macroeconomic uncertainty.
KLA-Tencor said first-quarter revenue was $721 million, compared with $796 million in the year-ago period.
Analysts were expecting first-quarter revenue of $740 million, according to Thomson Reuters I/B/E/S.
KLA-Tencor said quarterly net income totaled $135 million, or 80 cents a share, down from $192 million, or $1.13 a share, in the year-ago quarter.
Non-GAAP earnings per share were 84 cents.
The company's shares edged down 0.21 percent in extended trading after closing 0.02 percent higher at $47.14 on Nasdaq.