WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Onto Innovation Inc. (ONTO) on Thursday reported fourth-quarter net income of $48.8 million.

The Wilmington, Massachusetts-based company said it had profit of 98 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.51 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The maker of semiconductor manufacturing equipment posted revenue of $263.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $259.4 million.

For the year, the company reported profit of $201.7 million, or $4.06 per share. Revenue was reported as $987.3 million.

For the current quarter ending in March, Onto Innovation expects its per-share earnings to range from $1.40 to $1.54.

The company said it expects revenue in the range of $260 million to $274 million for the fiscal first quarter.

_____

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