KLAC Q1 2019 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

Q1 2019 Earnings

Reported October 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$1.1B	$1.1B	$970M	2.2%	12.8%
Op. Income	$444M	$424M	$362M	4.8%	22.7%
Gross Margin	65.1%	64.7%	63.5%	0.4pp	1.6pp
Net Margin	36.2%	32.6%	29.0%	3.6pp	7.2pp
EPS (Diluted)	$2.54	$2.22	$1.78	14.4%	42.7%
Free Cash Flow	$359M	$351M	$358M	2.4%	0.3%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$381M
GROSS PROFIT	$712M
R&D Expenses	$154M
Selling & Marketing	$0
General & Administrative	$114M
SG&A Expenses	$114M
Other Expenses	$0
Operating Expenses	$268M
Cost & Expenses	$649M
OPERATING INCOME	$444M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$428M
Income Tax Expense	$32M
Net Income from Continuing Ops	$396M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$396M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$396M
D&A	$16M
EBIT	$454M
EBITDA	$470M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$381M
GROSS PROFIT	$712M
R&D Expenses	$154M
Selling & Marketing	$0
General & Administrative	$114M
SG&A Expenses	$114M
Other Expenses	$0
Operating Expenses	$268M
Cost & Expenses	$649M
OPERATING INCOME	$444M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$428M
Income Tax Expense	$32M
Net Income from Continuing Ops	$396M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$396M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$396M
D&A	$16M
EBIT	$454M
EBITDA	$470M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$396M
Depreciation & Amortization	$16M
Stock-Based Compensation	$16M
Deferred Income Tax	$0
Other Non-Cash Items	$4M
Change in Working Capital	-$51M
OPERATING CASH FLOW	$381M
Capital Expenditure	-$22M
Acquisitions (Net)	-$12M
Purchases of Investments	-$5M
Sales/Maturities of Investments	$354M
Other Investing Activities	$0
NET CASH FROM INVESTING	$315M
Net Debt Issuance	$0
Common Stock Repurchased	-$300M
Common Dividends Paid	-$123M
Other Financing Activities	-$27M
NET CASH FROM FINANCING	-$450M
FREE CASH FLOW	$359M
Net Change in Cash	$245M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$1.1B
Net Receivables	$618M
Inventory	$994M
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$291M
Goodwill	$360M
Intangible Assets	$25M
Long-Term Investments	$0
Tax Assets	$222M
Other Non-Current Assets	$203M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$5.6B
Account Payables	$155M
Short-Term Debt	$0
Deferred Revenue	$502M
Other Current Liabilities	$448M
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$2.2B
Deferred Revenue NC	$81M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$448M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$4.1B
Common Stock	$596M
Additional Paid-In Capital	$0
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$5.6B
Total Debt	$2.2B
Net Debt	$588M