MKS Instruments has posted a sales figure of US$231.9 million for Q1 after seeing quarter-to-quarter sales to the solar industry nearly double. Shipments accounting for US$30 million to solar manufacturers helped contribute towards a 21% year-on-year and a 6% quarter-to-quarter rise in total sales.

Among the other highlights from the manufacturing control and sub-systems specialist’s first quarter financial results were net income of US$38 million and non-GAAP net earnings of US$38.2 million – year-on-year rises of US$8.8 million and US$9.7 million respectively. Q1 also saw MKS’s board of directors authorise a quarterly cash dividend of US$0.15 per share which was paid on March 18.

"We achieved another revenue record in the first quarter, with continued strength in the semiconductor market and significant growth in the other advanced markets we serve,” Leo Berlinghieri, MKS president and CEO, said. “In particular, sales to the solar market nearly doubled from the fourth quarter, to just over US$30 million, as we completed delivery of the first quarter plan for the orders we announced receiving from a thin-film solar customer in China late last year; sales to all other markets also increased, up 3% sequentially to US$66 million.

"Underlying demand for semiconductors has remained strong and our customers continue to invest in both advanced technology and capacity expansion with the expectation that the global economy will continue to recover and grow. We estimate that our second-quarter sales may range from US$220 to US$240 million and, at this volume, our non-GAAP net earnings could range from US$0.62 to US$0.76 per share."