What is KLA Corporation's primary business and market position?

KLA Corporation is a leading global supplier of process control and yield management solutions for the semiconductor and related microelectronics industries. Their comprehensive portfolio of products and services helps integrated circuit manufacturers manage yield throughout the entire wafer fabrication process.

How did KLA Corporation perform financially in fiscal year 2002?

In fiscal year 2002, KLA Corporation experienced a 25% decrease in revenues to $1.64 billion, primarily due to a downturn in the semiconductor industry which led to reduced capital spending by customers. Despite this, the company maintained a strong cash position.

What are the key industry trends affecting KLA Corporation?

Key trends impacting KLA Corporation include the semiconductor industry's move towards smaller design rules (0.13-micron and below), adoption of new technologies like copper interconnects and 300mm wafers, and the increasing complexity of chip manufacturing. These trends drive demand for KLA's advanced process control and yield management solutions.

Does KLA Corporation pay dividends to its shareholders?

No, KLA Corporation has never paid cash dividends to its stockholders and does not currently plan to do so in the foreseeable future. The company's focus has been on reinvesting earnings for growth and repurchasing stock.

KLAC 10-K FY2002 Annual Report — Revenue, Net Income, EPS

Summary

KLA Corporation (KLAC) filed its 10-K for the fiscal year ended June 30, 2002, on September 19, 2002. The company, a leading supplier of process control and yield management solutions for the semiconductor industry, reported revenues of $1.64 billion for fiscal year 2002, a decrease of 25% from $2.10 billion in fiscal year 2001. This decline was primarily attributed to a significant downturn in the semiconductor industry, leading to reduced capital spending by customers. Despite the revenue decrease, KLA-Tencor maintained a strong financial position with $1.33 billion in cash, cash equivalents, and marketable securities as of June 30, 2002. The company continued to invest in research and development, allocating 18% of revenues to R&D in fiscal 2002, focusing on advancements for next-generation semiconductor technologies like 300mm wafers and sub-quarter micron feature sizes. The company's business is cyclical and highly dependent on semiconductor industry capital expenditures, which were significantly impacted by the industry downturn in fiscal 2002.

Key Highlights

1Revenues for fiscal year 2002 were $1.64 billion, a decrease of 25% from $2.10 billion in fiscal year 2001, reflecting a significant downturn in the semiconductor industry.

2The company ended fiscal year 2002 with a robust liquidity position, holding $1.33 billion in cash, cash equivalents, and marketable securities.

3KLA-Tencor continued to invest heavily in Research and Development, representing 18% of revenues in fiscal 2002, to support innovation in advanced semiconductor manufacturing technologies.

4International sales accounted for a significant portion of revenue, representing 67% in fiscal year 2002, with continued focus on growth in key Asian markets.

5Backlog for system shipments stood at $599 million at June 30, 2002, down from $724 million at June 30, 2001, indicating slower order activity.

6The company has never paid cash dividends and does not currently plan to do so in the foreseeable future.

7KLA-Tencor operates in a highly cyclical industry, and its results are subject to fluctuations based on semiconductor industry capital spending patterns.

KLA CORP Annual Report, Year Ended Jun 30, 2002

Summary

Key Highlights

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