KLAC FY 2014 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

FY 2014 Earnings

Reported August 8, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$2.9B	—	$2.8B	—	3.0%
Op. Income	$772M	—	$730M	—	5.8%
Gross Margin	57.9%	—	56.5%	—	1.4pp
Net Margin	19.9%	—	19.1%	—	0.8pp
EPS (Diluted)	$3.47	—	$3.21	—	8.1%
Free Cash Flow	$711M	—	$839M	—	-15.2%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.7B
R&D Expenses	$539M
Selling & Marketing	$0
General & Administrative	$385M
SG&A Expenses	$385M
Other Expenses	$2M
Operating Expenses	$924M
Cost & Expenses	$2.2B
OPERATING INCOME	$772M
Interest Income	$14M
Interest Expense	$54M
Other Income/Expenses	-$38M
INCOME BEFORE TAX	$734M
Income Tax Expense	$152M
Net Income from Continuing Ops	$583M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$583M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$583M
D&A	$83M
EBIT	$771M
EBITDA	$855M
EPS	$4
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.7B
R&D Expenses	$539M
Selling & Marketing	$0
General & Administrative	$385M
SG&A Expenses	$385M
Other Expenses	$2M
Operating Expenses	$924M
Cost & Expenses	$2.2B
OPERATING INCOME	$772M
Interest Income	$14M
Interest Expense	$54M
Other Income/Expenses	-$38M
INCOME BEFORE TAX	$734M
Income Tax Expense	$152M
Net Income from Continuing Ops	$583M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$583M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$583M
D&A	$83M
EBIT	$771M
EBITDA	$855M
EPS	$4
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$583M
Depreciation & Amortization	$83M
Stock-Based Compensation	$61M
Deferred Income Tax	$17M
Other Non-Cash Items	-$25M
Change in Working Capital	$60M
OPERATING CASH FLOW	$779M
Capital Expenditure	-$68M
Acquisitions (Net)	-$18M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$676M
Net Debt Issuance	$0
Common Stock Repurchased	-$241M
Common Dividends Paid	-$299M
Other Financing Activities	-$31M
NET CASH FROM FINANCING	-$459M
FREE CASH FLOW	$711M
Net Change in Cash	-$355M

Balance Sheet

Item	Amount
Cash & Equivalents	$631M
Short-Term Investments	$2.5B
Net Receivables	$520M
Inventory	$656M
Other Current Assets	$222M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$330M
Goodwill	$335M
Intangible Assets	$28M
Long-Term Investments	-$75M
Tax Assets	$75M
Other Non-Current Assets	$181M
TOTAL NON-CURRENT ASSETS	$950M
TOTAL ASSETS	$5.5B
Account Payables	$103M
Short-Term Debt	$0
Deferred Revenue	$286M
Other Current Liabilities	$365M
TOTAL CURRENT LIABILITIES	$896M
Long-Term Debt	$748M
Deferred Revenue NC	$58M
Deferred Tax Liabilities	$119M
Other Non-Current Liabilities	$168M
TOTAL NON-CURRENT LIABILITIES	$974M
TOTAL LIABILITIES	$1.9B
Common Stock	$165.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$2.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$30M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.7B
Minority Interest	$0
TOTAL EQUITY	$3.7B
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$745M
Net Debt	$114M