Versum Materials, Inc. has posted a “strong financial chapter” in its first full-year financial results since becoming a stand-alone company following its spin-off from Tier One player Air Products and Chemicals, Inc.
The leading materials and equipment supplier to the semiconductor industry released its fourth quarter and full fiscal year results, ended 30th September 2016, in which net income for the fourth quarter of $45m was up 5% versus the comparable prior year period. Overall fiscal 2016 net income of $212m was also up versus the prior year, rising by 15%.
Fiscal year
Despite the overall increase in revenue, Versum’s sales for the fiscal year showed a 4% year-on-year decrease – dropping from $1bn to $970m. The company assigned the decline to lower turnkey installation activity, the impact of exited product lines and unfavourable currency, which more than offset positive prices in its Materials segment.
... to continue reading you must be subscribed
