KLA-Tencor Reports Fiscal 2014 First Quarter Results
MILPITAS, Calif., Oct. 24, 2013 /PRNewswire/ --KLA-Tencor Corporation(纳斯达克:KLAC)今天宣布于2014财年第一季度的经营业绩,于2013年9月30日结束,并报告了1100万美元的GAAP净收入,每股稀释份额为每年0.66美元,收入为6.58亿美元。
“KLA-Tencor固体结果第一quarter of fiscal year 2014, generating revenue and EPS in the upper half of the guided range for the period, and new orders well above the upper end of the range," commented Rick Wallace, president and CEO of KLA-Tencor. "Our results demonstrate strong operational execution and financial performance as we address our customers' most critical yield challenges at the leading edge. With our market leadership and customer focus, we believe we will benefit from opportunities for continued growth as our customers execute their next-generation technology investments at the leading edge."
GAAP Results |
|||
Q1 FY 2014 |
Q4 FY 2013 |
Q1 FY 2013 |
|
收入 |
$658 million |
7.2亿美元 |
$721 million |
Net Income |
1.11亿美元 |
1.35亿美元 |
1.35亿美元 |
Earnings per Diluted Share |
$0.66 |
$0.80 |
$0.80 |
Non-GAAP Results |
|||
Q1 FY 2014 |
Q4 FY 2013 |
Q1 FY 2013 |
|
Net Income |
$115 million |
$139 million |
14200万美元 |
Earnings per Diluted Share |
$0.68 |
$0.82 |
$0.84 |
A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements that are part of this release. Non-GAAP results include the impact of stock-based compensation, but exclude the impact of acquisitions, restatement and restructuring related items, and certain discrete tax items.
KLA-Tencor will discuss the results for its fiscal year 2014 first quarter, along with its outlook, on a conference call today beginning at 2:00 p.m. Pacific Daylight Time. A webcast of the call will be available at:m.lisalozano.com
Forward-Looking Statements:
除了历史事实之外的历史事实之外的陈述,如关于KLA-Tencor维持其市场领导地位的能力,半导体行业趋势与克拉滕罗尔客户的过程控制采用和下一代技术投资有关的半导体产业,以及KLA-Tencor预期的未来表现是前瞻性陈述,受到1995年私营证券诉讼改革法案所产生的安全港规定的约束。这些前瞻性陈述是基于当前的信息和预期,并涉及许多风险和涉及许多风险和涉及许多风险不确定因素。由于各种因素,实际结果可能与在此类陈述中预期的那些结果有所不同,包括但不限于:半导体的需求;全球资本市场的财务状况和一般宏观经济环境;竞争对手的新产品和技术产品;取消客户的订单;KLA-Tencor的研发团队成功创新和开发响应客户需求的技术和产品的能力;KLA-Tencor成功管理其成本的能力;市场接受本公司现有和新发布的产品;beplay官网ued并改变客户需求。 For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this release, please refer to KLA-Tencor's Annual Report on Form 10-K for the year ended June 30, 2013, subsequently filed Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA-Tencor assumes no obligation to, and does not currently intend to, update these forward-looking statements.
About KLA-Tencor:
KLA-Tencor Corporation(NASDAQ: KLAC), a leading provider of process control and yield management solutions, partners with customers around the world to develop state-of-the-art inspection and metrology technologies. These technologies serve the semiconductor, LED and other related nanoelectronics industries. With a portfolio of industry-standard products and a team of world-class engineers and scientists, the company has created superior solutions for its customers for more than 35 years. Headquartered in Milpitas, California, KLA-Tencor has dedicated customer operations and service centers around the world. Additional information may be found atm.lisalozano.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-Tencor's financial results presented in accordance with United States GAAP.
补充KLA-Tencor浓缩合并financial statements presented in accordance with GAAP, the company provides certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain costs and expenses, as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user's overall understanding of KLA-Tencor's operating performance and its prospects in the future. Specifically, KLA-Tencor believes that the non-GAAP information provides useful measures to both management and investors regarding financial and business trends relating to KLA-Tencor's financial performance by excluding certain costs and expenses that the company believes are not indicative of its 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 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.
KLA-Tencor Corporation |
|||||||
浓缩合并联合国audited Balance Sheets |
|||||||
(成千上万) |
September 30, 2013 |
June 30, 2013 |
|||||
ASSETS |
|||||||
Cash, cash equivalents and marketable securities |
$ |
2,951,875 |
$ |
2,918,881 |
|||
Accounts receivable, net |
440,674 |
524,610 |
|||||
Inventories |
660,276 |
634,448 |
|||||
Other current assets |
301,913 |
273,564 |
|||||
Land, property and equipment, net |
319,837 |
305,281 |
|||||
Goodwill |
326,556 |
326,635 |
|||||
Purchased intangibles, net |
30,022 |
34,515 |
|||||
Other non-current assets |
252,399 |
269,423 |
|||||
Total assets |
$ |
5,283,552 |
$ |
5,287,357 |
|||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|||||||
Current liabilities: |
|||||||
Accounts payable |
$ |
114,716. |
$ |
115,680 |
|||
Deferred system profit |
165,931 |
157,965 |
|||||
Unearned revenue |
54,363 |
60,838 |
|||||
Other current liabilities |
500,100 |
527,049 |
|||||
Total current liabilities |
835,110 |
861,532 |
|||||
Non-current liabilities: |
|||||||
Long-term debt |
747,511 |
747,376. |
|||||
Pension liabilities |
59,578 |
57,959 |
|||||
Income tax payable |
58,995 |
59,494 |
|||||
Unearned revenue |
54,918 |
42,228 |
|||||
Other non-current liabilities |
36,277 |
36,616 |
|||||
Total liabilities |
1,792,389 |
1,805,205 |
|||||
股东权益: |
|||||||
Common stock and capital in excess of par value |
1,178,784 |
1,159,565 |
|||||
Retained earnings |
2,344,270 |
2,359,233 |
|||||
Accumulated other comprehensive income (loss) |
(31,891) |
(36,646) |
|||||
Total stockholders' equity |
3,491,163 |
3,482,152 |
|||||
Total liabilities and stockholders' equity |
$ |
5,283,552 |
$ |
5,287,357 |
|||
KLA-Tencor Corporation |
|||||||
浓缩的综合未经审核的业务陈述 |
|||||||
Three months ended September 30, |
|||||||
(In thousands, except per share data) |
2013 |
2012 |
|||||
收入: |
|||||||
Product |
$ |
501,740 |
$ |
574,078 |
|||
服务 |
156,597 |
146,631 |
|||||
总收入 |
658,337 |
720,709 |
|||||
成本和运营费用: |
|||||||
Costs of revenues |
277,657 |
317,225 |
|||||
Engineering, research and development |
132,273 |
119,742 |
|||||
Selling, general and administrative |
98,496 |
97,185 |
|||||
Total costs and operating expenses |
508,426 |
534,152 |
|||||
业务收入 |
149,911 |
186,557 |
|||||
Interest income and other, net |
(10,047) |
(10,015) |
|||||
Income before income taxes |
139,864 |
176,542 |
|||||
Provision for income taxes |
28,667 |
41,175 |
|||||
Net income |
$ |
111,197 |
$ |
135,367 |
|||
Net income per share: |
|||||||
基本的 |
$ |
0.67 |
$ |
0.81 |
|||
Diluted |
$ |
0.66 |
$ |
0.80 |
|||
Cash dividends declared per share |
$ |
0.45 |
$ |
0.40 |
|||
加权平均股份数: |
|||||||
基本的 |
165,886 |
166,531 |
|||||
Diluted |
168,734 |
169,824 |
|||||
KLA-Tencor Corporation |
|||||||
浓缩合并联合国audited Statements of Cash Flows |
|||||||
Three months endedSeptember 30, |
|||||||
(成千上万) |
2013 |
2012 |
|||||
Cash flows from operating activities: |
|||||||
Net income |
$ |
111,197 |
$ |
135,367 |
|||
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||||
Depreciation and amortization |
20,637 |
24,016 |
|||||
资产减值费用 |
— |
1,327 |
|||||
Non-cash stock-based compensation expense |
19,219 |
18,984 |
|||||
Excess tax benefit from equity awards |
(18,605) |
(7,026) |
|||||
Net gain on sale of marketable securities and other investments |
(234) |
(309) |
|||||
Changes in assets and liabilities: |
|||||||
Decrease in accounts receivable, net |
85,771 |
166,855 |
|||||
Increase in inventories |
(29,805) |
(39,289) |
|||||
Decrease (increase) in other assets |
(9,425) |
19,676 |
|||||
Decrease in accounts payable |
(1,058) |
(23,104) |
|||||
增加(减少)延期系统利润 |
7,966 |
(5,292) |
|||||
Decrease in other liabilities |
(8,415) |
(45,812) |
|||||
Net cash provided by operating activities |
177,248 |
245,393 |
|||||
Cash flows from investing activities: |
|||||||
Capital expenditures, net |
(21,751) |
(20,272) |
|||||
Purchase of available-for-sale securities |
(348,031) |
(448,149) |
|||||
Proceeds from sale of available-for-sale securities |
203,541 |
227,568 |
|||||
Proceeds from maturity of available-for-sale securities |
32,058 |
75,578 |
|||||
Purchase of trading securities |
(20,851) |
(11,168) |
|||||
Proceeds from sale of trading securities |
18,366 |
9,322 |
|||||
Net cash used in investing activities |
(136,668) |
(167,121) |
|||||
Cash flows from financing activities: |
|||||||
Issuance of common stock |
41,047 |
23,250 |
|||||
Tax withholding payments related to vested and released restricted stock units |
(48,264) |
(18,961) |
|||||
Common stock repurchases |
(60,504) |
(68,317) |
|||||
Payment of dividends to stockholders |
(74,617) |
(66,629) |
|||||
Excess tax benefit from equity awards |
18,605 |
7,026 |
|||||
用于融资活动的净现金 |
(123,733) |
(123,631) |
|||||
Effect of exchange rate changes on cash and cash equivalents |
2,712 |
4,007 |
|||||
Net decrease in cash and cash equivalents |
(80,441) |
(41,352) |
|||||
Cash and cash equivalents at beginning of period |
985,390 |
751,294 |
|||||
期末现金和现金等价物 |
$ |
904,949 |
$ |
709,942 |
|||
Supplemental cash flow disclosures: |
|||||||
Income taxes paid, net |
$ |
19,052 |
$ |
27,909 |
|||
Interest paid |
$ |
217 |
$ |
233 |
|||
非现金投资活动: |
|||||||
Purchase of land, property and equipment |
$ |
1,798 |
$ |
— |
|||
KLA-Tencor Corporation |
||||||||||||
浓缩合并联合国audited Supplemental Information |
||||||||||||
(In thousands, except per share data) |
||||||||||||
Reconciliation of GAAP Net Income to Non-GAAP Net Income |
||||||||||||
Three months ended |
||||||||||||
September 30, 2013 |
June 30, 2013 |
September 30, 2012 |
||||||||||
GAAP net income |
$ |
111,197 |
$ |
134,770 |
$ |
135,367 |
||||||
Adjustments to reconcile GAAP net income to non-GAAP net income |
||||||||||||
Acquisition related charges |
a |
4,169 |
4,169 |
6,886 |
||||||||
Restructuring, severance and other related charges |
b |
1,237 |
1,418 |
3,134 |
||||||||
Income tax effect of non-GAAP adjustments |
c |
(1,672) |
(1,776) |
(2,979) |
||||||||
Non-GAAP net income |
$ |
114,931 |
$ |
138,581 |
$ |
142,408 |
||||||
GAAP net income per diluted share |
$ |
0.66 |
$ |
0.80 |
$ |
0.80 |
||||||
Non-GAAP net income per diluted share |
$ |
0.68 |
$ |
0.82 |
$ |
0.84 |
||||||
Shares used in diluted shares calculation |
168,734 |
168,685 |
169,824 |
|||||||||
Pre-tax impact of items included in Consolidated Statements of Operations |
|||||||||||
Acquisition related |
Restructuring, |
Total pre-tax GAAP |
|||||||||
Three months ended September 30, 2013 |
|||||||||||
Costs of revenues |
$ |
1,921 |
$ |
651 |
$ |
2,572 |
|||||
Engineering, research and development |
836 |
306 |
1,142 |
||||||||
Selling, general and administrative |
1,412 |
280 |
1,692 |
||||||||
Total in three months ended September 30, 2013 |
$ |
4,169 |
$ |
1,237 |
$ |
5,406 |
|||||
Three months ended June 30, 2013 |
|||||||||||
Costs of revenues |
$ |
1,921 |
$ |
950 |
$ |
2,871 |
|||||
Engineering, research and development |
836 |
514 |
1,350 |
||||||||
Selling, general and administrative |
1,412 |
(46) |
1,366 |
||||||||
Total in three months ended June 30, 2013 |
$ |
4,169 |
$ |
1,418 |
$ |
5,587 |
|||||
Three months ended September 30, 2012 |
|||||||||||
Costs of revenues |
$ |
4,560 |
$ |
— |
$ |
4,560 |
|||||
Engineering, research and development |
836 |
— |
836 |
||||||||
Selling, general and administrative |
1,490 |
3,134 |
4,624 |
||||||||
Total in three months ended September 30, 2012 |
$ |
6,886 |
$ |
3,134 |
$ |
10,020 |
|||||
To supplement our condensed consolidated financial statements presented in accordance with GAAP, we provide certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain costs and expenses, as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user's overall understanding of our operating performance and our prospects in the future. Specifically, we believe that the non-GAAP information provides useful measures to both management and investors regarding financial and business trends relating to our financial performance by excluding certain costs and expenses 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 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.
一种。 |
Acquisition related charges include amortization of intangible assets associated with acquisitions. Management believes that the expense associated with the amortization of acquisition related intangible assets is appropriate to be excluded because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have short lives, and exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both KLA-Tencor's newly acquired and long-held businesses. Management believes excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies. |
b. |
Restructuring, severance and other related charges include costs associated with the company's decision in the first quarter of fiscal year 2013 to exit from the solar inspection business, as well as those associated with reductions in force. Management believes that it is appropriate to exclude these items as they are not indicative of ongoing operating results and therefore limit comparability. Management believes excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies. |
c. |
Income tax effect of non-GAAP adjustments includes the income tax effects of the excluded items noted above. Management believes that it is appropriate to exclude the tax effects of the items noted above in order to present a more meaningful measure of non-GAAP net income. |
SOURCE KLA-Tencor Corporation
Released October 24, 2013