KLA-Tencor Posts Lower Quarterly Profit

KLA-Tencor Corp. (KLA), a maker of tools used in microchip production, on Thursday posted a lower quarterly net profit and revenue as the semiconductor industry struggles to rebound.

Shares of KLA-Tencor fell in after-hours trade following the release of earnings.

The company recorded fiscal fourth-quarter net income of $29 million, or 15 cents a share, compared with net income of $47 million, or 23 cents a share a year earlier.

Revenue for the quarter ended June 30 was $308 million, down from $373 million a year earlier, the San Jose, California-based company said.

The company had forecast fourth-quarter revenue of $300 million to $310 million and earnings per share of 14 cents.

Analysts had, on average, expected the company to post earnings per share of 15 cents, according to Reuters Research, a unit of Reuters Group Plc.

KLA-Tencor is seeing some signs the chip industry may be starting to recover from the slump it has been in for the past few years, said Ken Schroeder, chief executive.

"Although the increase in business activity is not broad based, we are definitely seeing a number of our customers reporting an upturn in their business," he said in a statement.

Shares of KLA-Tencor closed at $52.13 on the Nasdaq, down 2.4 percent. They were at $51.20 in after-hours trade.