Versum Materials misses 4Q profit forecasts

TEMPE, Ariz. (AP) _ Versum Materials Inc. (VSM) on Thursday reported fiscal fourth-quarter profit of $44.6 million.

The Tempe, Arizona-based company said it had net income of 41 cents per share. Earnings, adjusted for restructuring costs, came to 47 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The supplier of specialty materials to the semiconductor industry posted revenue of $294.5 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $279.4 million.

For the year, the company reported profit of $193 million, or $1.76 per share. Revenue was reported as $1.13 billion.

Versum Materials expects full-year revenue in the range of $1.18 billion to $1.23 billion.

Versum Materials shares have increased 51 percent since the beginning of the year. The stock has risen 84 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSM at https://www.zacks.com/ap/VSM