KLA Corporation Reports Fiscal 2020 Fourth Quarter Results And Raises Dividend Level

MILPITAS, Calif., Aug. 3, 2020

Link: https://mma.prnewswire.com/media/806571/KLA_Corporation_Logo.jpg

"Thanks to the dedication, engagement and perseverance of our global workforce, KLA delivered strong results in the June 2020 quarter, with revenue and GAAP and non-GAAP EPS each finishing above the mid-point of our guidance ranges, demonstrating strong demand from customers, exceptional execution by our teams, and the enduring strength and resiliency of our company under today's extraordinary circumstances," commented Rick Wallace, president and CEO of KLA Corporation. "KLA's performance in the June quarter once again highlights how the KLA operating model and our long-term strategic objectives provide a dependable framework to guide our execution and consistently deliver on our commitments."

GAAP Results
	Q4 FY 2020	Q3 FY 2020	Q4 FY 2019 ARIVA.DE Börsen-Geflüster Werbung Weiter aufwärts? Kurzfristig positionieren in KLA-Tencor ME7CKX Ask: 6,42 Hebel: 4,32 mit moderatem Hebel Zum Produkt Morgan Stanley Den Basisprospekt sowie die Endgültigen Bedingungen und die Basisinformationsblätter erhalten Sie hier: ME7CKX,. Beachten Sie auch die weiteren Hinweise zu dieser Werbung. Der Emittent ist berechtigt, Wertpapiere mit open end-Laufzeit zu kündigen. Kurse KLA-Tencor 648,21 $ +2,30%
Revenues	$1,460 million	$1,424 million	$1,258 million
Net Income Attributable to KLA	$411 million	$78 million	$218 million
Earnings per Diluted Share Attributable to KLA	$2.63	$0.50	$1.35
Non-GAAP Results
	Q4 FY 2020	Q3 FY 2020	Q4 FY 2019
Net Income Attributable to KLA	$426 million	$389 million	$289 million
Earnings per Diluted Share Attributable to KLA	$2.73	$2.47	$1.78

A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. Non-GAAP results include the impact of recurring stock-based compensation, but exclude the impact of acquisitions or pending acquisitions, goodwill impairment, restructuring, severance and other charges, loss on extinguishment of debt, and certain discrete tax items. KLA will discuss the results for its fiscal year 2020 fourth quarter and full year, along with its outlook, on a conference call today beginning at 2 p.m. PT. A webcast of the call will be available at: www.kla.com.

Eleventh Consecutive Annual Increase in Dividend Payment

KLA's board of directors has approved a $0.20 annual dividend increase to $3.60 per year or $0.05 quarterly dividend increase to $0.90 per quarter. KLA's dividend payout has grown at a CAGR of approximately 15% since inception.

First Quarter Fiscal 2021 Guidance

The following details our guidance for the first quarter of fiscal 2021 ending in September:

• Revenue between $1,405 million to $1,555 million
• GAAP diluted EPS is expected to be in a range of $2.18 to $2.82
• Non-GAAP diluted EPS in a range of $2.42 to $3.06

For additional guidance metrics please see the company's published letter to shareholders and earnings slides on the KLA investor relations website.

About KLA:

KLA Corporation ("KLA") develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Additional information may be found at: www.kla.com (KLAC-F).

Use of Non-GAAP Financial Information:

The non-GAAP and supplemental information provided in this press release is a supplement to, and not a substitute for, KLA's financial results presented in accordance with United States GAAP.

To supplement KLA's condensed consolidated financial statements presented in accordance with GAAP, KLA provides certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain costs and expenses (benefits), as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user's overall understanding of KLA's operating performance and its prospects in the future. Specifically, KLA believes that the non-GAAP information provides useful measures to both management and investors regarding financial and business trends relating to KLA's financial performance by excluding certain costs and expenses (benefits) that we believe are not indicative of our core operating results. The non-GAAP information is among the budgeting and planning tools that management uses for future forecasting. However, because there are no standardized or generally accepted definitions for most non-GAAP financial metrics, definitions of non-GAAP financial metrics (for example, determining which costs and expenses (benefits) to exclude when calculating such a metric) are inherently subject to significant discretion. As a result, non-GAAP financial metrics may be defined very differently from company to company, or even from period to period within the same company, which can potentially limit the usefulness of such information to an investor. The presentation of non-GAAP and supplemental information is not meant to be considered in isolation or as a substitute for results prepared and presented in accordance with United States GAAP.

Note Regarding Forward-Looking Statements:

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including statements regarding our revenues, GAAP and non-GAAP earnings diluted for the quarter ending Sept. 30, 2020, are subject to risks and uncertainties. For the factors that may cause actual results to differ materially from those projected and anticipated in the forward-looking statements in this release, please refer to KLA's annual report on Form 10-K for the year ended June 30, 2019, subsequently filed quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission (including, without limitation, the risk factors described therein). Except as otherwise specifically indicated, the information included in this release is as of the date it is delivered. KLA assumes no obligation to, and does not currently intend to, update these forward-looking statements.

KLA Corporation
Condensed Consolidated Unaudited Balance Sheets
(In thousands)	June 30, 2020				June 30, 2019
ASSETS
Cash, cash equivalents and marketable securities	$	1,980,472			$	1,739,385
Accounts receivable, net	1,107,413				990,113
Inventories	1,310,985				1,262,500
Other current assets	324,675				323,077
Land, property and equipment, net	519,824				448,799
Goodwill	2,045,402				2,211,858
Deferred income taxes, non-current	236,797				206,141
Purchased intangibles, net	1,391,413				1,560,670
Other non-current assets	362,979				265,973
Total assets	$	9,279,960			$	9,008,516
LIABILITIES, NON-CONTROLLING INTEREST AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	264,280			$	202,416
Deferred system revenue	336,237				282,348
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