KLAC FY 2013 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

FY 2013 Earnings

Reported August 8, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$2.8B	—	$3.2B	—	-10.4%
Op. Income	$730M	—	$1.0B	—	-28.2%
Gross Margin	56.5%	—	58.1%	—	-1.6pp
Net Margin	19.1%	—	23.8%	—	-4.7pp
EPS (Diluted)	$3.21	—	$4.44	—	-27.7%
Free Cash Flow	$839M	—	$884M	—	-5.1%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.6B
R&D Expenses	$488M
Selling & Marketing	$0
General & Administrative	$388M
SG&A Expenses	$388M
Other Expenses	-$1M
Operating Expenses	$876M
Cost & Expenses	$2.1B
OPERATING INCOME	$730M
Interest Income	$15M
Interest Expense	$54M
Other Income/Expenses	-$39M
INCOME BEFORE TAX	$691M
Income Tax Expense	$147M
Net Income from Continuing Ops	$543M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$543M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$543M
D&A	$88M
EBIT	$745M
EBITDA	$832M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.6B
R&D Expenses	$488M
Selling & Marketing	$0
General & Administrative	$388M
SG&A Expenses	$388M
Other Expenses	-$1M
Operating Expenses	$876M
Cost & Expenses	$2.1B
OPERATING INCOME	$730M
Interest Income	$15M
Interest Expense	$54M
Other Income/Expenses	-$39M
INCOME BEFORE TAX	$691M
Income Tax Expense	$147M
Net Income from Continuing Ops	$543M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$543M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$543M
D&A	$88M
EBIT	$745M
EBITDA	$832M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$543M
Depreciation & Amortization	$88M
Stock-Based Compensation	$70M
Deferred Income Tax	$5M
Other Non-Cash Items	-$16M
Change in Working Capital	$224M
OPERATING CASH FLOW	$913M
Capital Expenditure	-$75M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$241M
Net Debt Issuance	$0
Common Stock Repurchased	-$273M
Common Dividends Paid	-$266M
Other Financing Activities	-$15M
NET CASH FROM FINANCING	-$429M
FREE CASH FLOW	$839M
Net Change in Cash	$234M

Balance Sheet

Item	Amount
Cash & Equivalents	$985M
Short-Term Investments	$1.9B
Net Receivables	$550M
Inventory	$634M
Other Current Assets	$216M
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$305M
Goodwill	$327M
Intangible Assets	$35M
Long-Term Investments	-$115M
Tax Assets	$115M
Other Non-Current Assets	$155M
TOTAL NON-CURRENT ASSETS	$936M
TOTAL ASSETS	$5.3B
Account Payables	$116M
Short-Term Debt	$0
Deferred Revenue	$219M
Other Current Liabilities	$334M
TOTAL CURRENT LIABILITIES	$862M
Long-Term Debt	$747M
Deferred Revenue NC	$42M
Deferred Tax Liabilities	$117M
Other Non-Current Liabilities	$154M
TOTAL NON-CURRENT LIABILITIES	$944M
TOTAL LIABILITIES	$1.8B
Common Stock	$165.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$5.3B
Total Debt	$747M
Net Debt	-$238M