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UPDATE 1-KLA-Tencor's quarterly revenue meets expectations

Noel Randewich
Thursday, 24 Oct 2013 | 4:28 PM ET

SAN FRANCISCO, Oct 24 (Reuters) - Chip equipment maker KLA-Tencor Corp reported on Thursday fiscal first-quarter revenue that met expectations as contract manufacturers investing in new technology partly offset a slow PC industry.

Revenue was $658 million compared with $721 million a year earlier. Analysts, on average, were expecting first-quarter revenue of $657 million, according to Thomson Reuters I/B/E/S.

KLA-Tencor reported net income of $111 million, or 66 cents a share, compared with $135 million, or 80 cents a share, in the year-ago quarter.

Non-GAAP earnings per share were 68 cents in the first quarter.

Shares of KLA-Tencor rose 1.91 percent in extended trade after closing up 1.08 percent at $63.73.

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