KLAC Q1 2022 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

Q1 2022 Earnings

Reported October 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$2.1B	$1.9B	$1.5B	8.2%	35.4%
Op. Income	$819M	$720M	$526M	13.8%	55.6%
Gross Margin	61.0%	59.9%	59.7%	1.1pp	1.3pp
Net Margin	51.3%	32.9%	27.3%	18.4pp	23.9pp
EPS (Diluted)	$6.96	$4.10	$2.69	69.8%	158.7%
Free Cash Flow	$795M	$410M	$456M	93.7%	74.2%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$814M
GROSS PROFIT	$1.3B
R&D Expenses	$258M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$193M
Other Expenses	$0
Operating Expenses	$451M
Cost & Expenses	$1.3B
OPERATING INCOME	$819M
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$766M
Income Tax Expense	-$302M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$85M
EBIT	$805M
EBITDA	$889M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$814M
GROSS PROFIT	$1.3B
R&D Expenses	$258M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$193M
Other Expenses	$0
Operating Expenses	$451M
Cost & Expenses	$1.3B
OPERATING INCOME	$819M
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$766M
Income Tax Expense	-$302M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$85M
EBIT	$805M
EBITDA	$889M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$85M
Stock-Based Compensation	$25M
Deferred Income Tax	-$428M
Other Non-Cash Items	$22M
Change in Working Capital	$92M
OPERATING CASH FLOW	$864M
Capital Expenditure	-$69M
Acquisitions (Net)	-$38M
Purchases of Investments	-$287M
Sales/Maturities of Investments	$219M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$175M
Net Debt Issuance	$0
Common Stock Repurchased	-$400M
Common Dividends Paid	-$163M
Other Financing Activities	-$47M
NET CASH FROM FINANCING	-$609M
FREE CASH FLOW	$795M
Net Change in Cash	$75M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$1.1B
Net Receivables	$1.6B
Inventory	$1.7B
Other Current Assets	$109M
TOTAL CURRENT ASSETS	$6.1B
PP&E (Net)	$798M
Goodwill	$2.0B
Intangible Assets	$1.2B
Long-Term Investments	$0
Tax Assets	$666M
Other Non-Current Assets	$339M
TOTAL NON-CURRENT ASSETS	$5.0B
TOTAL ASSETS	$11.1B
Account Payables	$381M
Short-Term Debt	$20M
Deferred Revenue	$1.0B
Other Current Liabilities	$686M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$3.4B
Deferred Revenue NC	$95M
Deferred Tax Liabilities	$626M
Other Non-Current Liabilities	$555M
TOTAL NON-CURRENT LIABILITIES	$4.8B
TOTAL LIABILITIES	$7.3B
Common Stock	$2.1B
Additional Paid-In Capital	$0
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$78M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	-$2M
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$11.1B
Total Debt	$3.5B
Net Debt	$2.0B