KLA CORP Annual Report (Amendment), Year Ended Jun 30, 2003

KLA-Tencor Corporation filed an amendment (10-K/A) to its 2003 Annual Report, primarily to correct clerical errors. The report covers the fiscal year ended June 30, 2003. Key financial highlights for the fiscal year 2003 show a decrease in total revenues to $1,323 million from $1,637 million in fiscal year 2002, and further down from $2,103 million in fiscal year 2001. This revenue decline is reflected in the income from operations, which fell to $139 million in fiscal 2003 compared to $245 million in fiscal 2002 and $458 million in fiscal 2001. Net income also saw a significant decrease, reported at $137 million for fiscal 2003, down from $216 million in fiscal 2002 and $67 million in fiscal 2001. The company's balance sheet shows total assets of $2,867 million and total liabilities and stockholders' equity of $2,867 million as of June 30, 2003. Total stockholders' equity stood at $2,216 million, an increase from $2,030 million in the prior year, primarily driven by retained earnings. The company's financial health appears stable despite the revenue and profit decline, with substantial cash and cash equivalents of $607 million and marketable securities totaling $881 million. Operating activities provided $246 million in cash flow, while investing activities used $99 million, and financing activities provided $27 million. The amendment specifically corrected errors related to net borrowings under short-term debt obligations for fiscal year 2002 and pro forma net income for fiscal year 2001. The company's market capitalization as of September 10, 2003, was reported at over $10.7 billion, indicating investor confidence despite the challenging industry conditions reflected in the financial performance.