ORBK - KLA-Tencor: Post-Orbotech Future Shines Bright
KLA-Tencor Corp. (KLAC) posted encouraging results for the quarter as revenues and EPS beat consensus as a result of a pull-in of shipments from 3Q and a lower tax rate. On the other hand, guidance was lowered for 3Q19, which is expected to be the bottom quarter for KLAC, especially on the back of the Orbotech deal approval, which provides ample opportunity for growth in FY20 and beyond.
KLAC had an encouraging 2Q19, with revenues and EPS both beating consensus and shipments on the higher end of estimates.
Although these numbers were aided