Summary
KLA Corp (KLAC) reported revenue of $975.8 million for the three months ended December 31, 2017, a 11% increase year-over-year. Net income for the quarter was a loss of $134.3 million, or -$0.86 per diluted share, primarily impacted by a significant provisional tax provision related to the Tax Cuts and Jobs Act of 2017. Excluding this tax impact, the company demonstrated operational strength with increased revenue driven by memory and logic customer investments. The company's cash position remains strong, with $1.07 billion in cash and cash equivalents and $1.68 billion in marketable securities as of December 31, 2017. Despite the net loss for the quarter due to the tax impact, the company's operational performance shows positive trends in revenue growth and a strong gross margin of 64%. Key financial highlights include a 20% year-over-year increase in total revenues for the first six months of the fiscal year and continued investment in research and development to support future technological advancements. The company also continued its shareholder return program, paying a quarterly dividend and repurchasing shares.
Financial Highlights
50 data points| Revenue | $975.82M |
| Cost of Revenue | $347.00M |
| Gross Profit | $628.82M |
| R&D Expenses | $156.70M |
| SG&A Expenses | $105.27M |
| Interest Expense | $27.37M |
| Net Income | -$134.32M |
| EPS (Basic) | $-0.86 |
| EPS (Diluted) | $-0.86 |
| Shares Outstanding (Basic) | 156.59M |
| Shares Outstanding (Diluted) | 156.59M |
Key Highlights
- 1Total revenues increased by 11% year-over-year to $975.8 million for the three months ended December 31, 2017.
- 2A net loss of $134.3 million was reported for the quarter, largely due to a $442.0 million provisional tax provision related to the Tax Cuts and Jobs Act of 2017.
- 3Gross margin remained strong at 64.4% for the quarter, indicating healthy operational profitability before extraordinary tax items.
- 4Cash and cash equivalents stood at $1.07 billion and marketable securities at $1.68 billion as of December 31, 2017, reflecting a solid liquidity position.
- 5Product revenues saw an 11% increase year-over-year, driven by investments from memory and logic customers.
- 6Research and Development expenses increased by 20% year-over-year to $156.7 million, highlighting the company's commitment to innovation.
- 7The company repaid $250 million of Senior Notes at maturity and reduced its overall debt.