KLA-Tencor Reports Fiscal 2019 Second Quarter Results

MILPITAS, Calif., Jan. 29, 2019 /PRNewswire/ --KLA-Tencor Corporation(纳斯达克:报收于)今天宣布操作结果for its second quarter of fiscal year 2019, which ended on Dec. 31, 2018, and reported GAAP net income of $369 million and GAAP earnings per diluted share of $2.42 on revenues of $1,120 million.

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“ KLA报告了12月季度的出色成绩，货运，收入和每股收益每股收盘超过此期间的指导范围，在2018年日历中连续第三年为该公司的两位数增长了第三年。”beplay官网ued和首席执行官里克·华莱士（Rick Wallace）。“我们的出色表现强调了KLA业务模型的实力和韧性，并证明了公司持续推动长期增长，并为股东提供高级财务绩效和强劲的现金回报的能力。”beplay官网ued

GAAP Results
	Q2 FY 2019	Q1 FY 2019	Q2 FY 2018
Revenues	$1,120 million	$1,093 million	$976 million
净收入（损失）	3.69亿美元	3.96亿美元	$（134）百万
每股收益（损失）	$2.42	$2.54	$（0.86）

Non-GAAP Results
	Q2 FY 2019	Q1 FY 2019	Q2 FY 2018
净利	$372 million	3.84亿美元	3.09亿美元
Earnings per Diluted Share	$2.44	$2.46	$1.97

在2019财年的第一天生效，公司通过了2014 - 09年的会计标准更新，与客户合同收入（beplay官网ued“ ASC 606”）。截至2018年6月30日，预先凝结的未经审计资产负债表，并没有回顾性重述，截至2017年12月31日截至三个月的三个月和六个月的现金流量和六个月的现金流量和三个月的现金流量和三个月的现金流量和三个月的现金流量和凝结的合并无审计陈述截至2017年12月31日截至2017年12月31日的会计标准与截至2018年12月31日的三个月和六个月有不同的会计标准进行了准备。

A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. Non-GAAP results include the impact of stock-based compensation, but exclude the impact of acquisitions or pending acquisitions, restructuring, severance, merger and other related charges and certain discrete tax items. KLA will discuss the results for its fiscal year 2019 second quarter, along with its outlook, on a conference call today beginning at 2 p.m. Pacific Time. A webcast of the call will be available at:www.kla.com.

关于KLA：

KLA-Tencor Corporation(aka "KLA Corporation" or "KLA") develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control solutions for manufacturing wafers and reticles, integrated circuits and packaging. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Additional information may be found atwww.kla.com(KLAC-F).

Use of Non-GAAP Financial Information:

The non-GAAP and supplemental information provided in this press release is a supplement to, and not a substitute for, KLA's financial results presented in accordance with United States GAAP.

为了补充KLA根据GAAP提出的凝结的合并财务报表，公司提供了某些非GAAP财务信息，根据GAAP的结果进行了调整，以排除某些费用和费用（福利）以及其他补充信息。beplay官网ued提供了非GAAP和补充信息，以增强用户对KLA的运营绩效及其前景的总体理解。具体而言，KLA认为，非GAAP信息通过排除公司认为并不表示其核心运营结果的某些成本和费用（福利），向管理层和投资者提供有关与KLA财务绩效有关的财务和业务趋势的有用措施。beplay新闻beplay官网ued非GAAP信息是管理层用于未来预测的预算和规划工具之一。但是，由于大多数非GAAP财务指标没有标准化或普遍接受的定义，因此非GAAP财务指标的定义（例如，确定在计算此类指标时要排除哪些成本和费用（收益），固有地遵守重大酌处权。结果，非GAAP财务指标的定义可能在公司之间，甚至在同一公司内的期限到期限都大不相同，这可能会将此类信息的实用性限制为投资者。beplay官网ued非GAAP和补充信息的介绍不应孤立地考虑，也不应作为根据美国GAAP制备和呈现的结果的替代品。


KLA-Tencor Corporation
Condensed Consolidated Unaudited Balance Sheets

*（成千上万个）*	Dec. 31, 2018		June 30, 2018
ASSETS
Cash, cash equivalents and marketable securities	$	2,694,094	$	2,880,318
Accounts receivable, net	658,080		651,678
Inventories	1,005,990		931,845
Other current assets	127,350		85,159
Land, property and equipment, net	306,351		286,306
Goodwill	360,480		354,698
Deferred income taxes, non-current	225,124		193,200
购买的无形资产，网络	23,818		19,333
其他非流动资产	204,000		216,819
总资产	$	5,605,287	$	5,619,356
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
应付账款	$	152,491	$	169,354
Deferred system revenue	196,242		—
递延服务收入	168,936		69,255
Deferred system profit	—		279,581
Current portion of long-term debt	249,996		—
Other current liabilities	714,873		699,893
Total current liabilities	1,482,538		1,218,083
Non-current liabilities:
Long-term debt	1,988,382		2,237,402
递延服务收入	90,466		71,997
其他非电流负债	446,279		471,363
Total liabilities	4,007,665		3,998,845
股东权益：
Common stock and capital in excess of par value	619,265		617,999
Retained earnings	1,048,804		1,056,445
Accumulated other comprehensive income (loss)	(70,447)		(53,933)
Total stockholders' equity	1,597,622		1,620,511
总负债和股东权益	$	5,605,287	$	5,619,356




KLA-Tencor Corporation
浓缩合并未经审计的Statements of Operations

	截至12月31日的三个月，				Six months ended Dec. 31,
*(In thousands, except per share amounts)*	2018		2017		2018		2017
Revenues:
Product	$	852,201	$	761,587	$	1,681,428	$	1,522,374
Service	267,697		214,235		531,730		423,029
Total revenues	1,119,898		975,822		2,213,158		1,945,403
Costs and expenses:
Costs of revenues	408,260		347,002		789,647		700,119
Research and development	165,903		156,700		319,433		303,387
Selling, general and administrative	112,462		105,265		226,900		212,697
利息费用和其他网络	17,310		19,548		33,647		45,741
所得税之前的收入	415,963		347,307		843,531		683,459
Provision for income taxes	46,863		481,626		78,487		536,842
Net income (loss)	$	369,100	$	(134,319)	$	765,044	$	146,617
Net income (loss) per share:
基本的	$	2.43	$	(0.86)	$	4.98	$	0.94
Diluted	$	2.42	$	(0.86)	$	4.96	$	0.93
加权平均股票数量：
基本的	152,148		156,587		153,684		156,707
Diluted	152,648		156,587		154,389		157,688




KLA-Tencor Corporation
浓缩合并未经审计的Statements of Cash Flows

	三个月结束了
	Dec. 31,
*（成千上万个）*	2018		2017
经营活动的现金流量：
Net income (loss)	$	369,100	$	(134,319)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,806		16,130
未实现的外汇和其他未实现的损失（收益）	895		（4,154）
基于股票的薪酬费用	15,695		13,739
Changes in assets and liabilities, net of business acquisitions:
Accounts receivable	（55,869）		（73,877）
Inventories	（15,109）		(24,240)
Other assets	34,978		86,512
应付账款	(2,440)		11,069
Deferred system revenue	(19,723)		—
递延服务收入	12,211		—
Deferred system profit	—		40,773
其他负债	(73,372)		197,738
经营活动提供的净现金	282,172		129,371
Cash flows from investing activities:
获取非营销证券	—		(3,377)
Businesses acquisitions, net of cash acquired	—		(4,780)
资本支出	（26,366）		(13,369)
Purchases of available-for-sale securities	（2,686）		（134,268）
Proceeds from sale of available-for-sale securities	107,370		56,506
Proceeds from maturity of available-for-sale securities	128,052		123,095
Purchases of trading securities	(27,481)		（18,914）
Proceeds from sale of trading securities	29,722		21,062
通过投资活动提供的净现金	208,611		25,955
融资活动的现金流量：
Proceeds from revolving credit facility, net of debt issuance costs	—		248,693
偿还债务	—		(540000)
Issuance of common stock	20,556		20,579
Tax withholding payments related to equity awards	(3,233)		（2,567）
Common stock repurchases	(250,213)		（40,427）
Payment of dividends to stockholders	(114,562)		(92,575)
用于融资活动的现金净现金	(347,452)		（406,297）
Effect of exchange rate changes on cash and cash equivalents	1,137		3,668
现金和现金当量的净增加（减少）	144,468		(247,303)
Cash and cash equivalents at beginning of period	1,649,514		1,320,697
Cash and cash equivalents at end of period	$	1,793,982	$	1,073,394
Supplemental cash flow disclosures:
所得税已支付	$	87,854	$	123,625
Interest paid	$	51,136	$	55,693
Non-cash activities:
Accrued purchase of land, property and equipment - investing activities	$	7,705	$	5,548
Business acquisition holdback amounts - investing activities	$	440	$	—
Contingent consideration payable - financing activities	$	2,529	$	—
Unsettled common stock repurchase - financing activities	$	—	$	1,289
股息payable - financing activities	$	5,404	$	7,590




KLA-Tencor Corporation
Condensed Consolidated Unaudited Supplemental Information
(In thousands, except per share amounts)

Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income

			三个月结束了						Six months ended
			Dec. 31, 2018		9月30日， 2018		Dec. 31, 2017		Dec. 31, 2018		Dec. 31, 2017
GAAP净收入（损失）			$	369,100	$	395,944	$	(134,319)	$	765,044	$	146,617
调整以调整GAAP净收入（损失）与非GAAP净收入：
	Acquisition-related charges	a	4,281		5,551		1,608		9,832		3,195
	Merger-related charges	b	—		—		—		—		3,015
	非GAAP调整的所得税效应	c	(276)		（310）		（465）		（586）		(2,064)
	Discrete tax items	d	（765）		(17,106)		441,894		(17,871)		441,894
Non-GAAP net income			$	372,340	$	384,079	$	308,718	$	756,419	$	592,657
GAAP净收入（损失）per diluted share			$	2.42	$	2.54	$	(0.86)	$	4.96	$	0.93
Non-GAAP net income per diluted share			$	2.44	$	2.46	$	1.97	$	4.90	$	3.76
Shares used in diluted shares calculation			152,648		156,083		156,587		154,389		157,688




Pre-tax impact of GAAP to non-GAAP adjustments included in Condensed Consolidated Unaudited Statements of Operations

	Acquisition-related charges
截至12月31日的三个月，2018
Costs of revenues	$	967
Selling, general and administrative	3,314
Total in three months ended Dec. 31, 2018	$	4,281
截至2018年9月30日的三个月
Costs of revenues	$	890
Selling, general and administrative	4,661
Total in three months ended Sept. 30, 2018	$	5,551
截至12月31日的三个月，2017
Costs of revenues	$	1,530
Selling, general and administrative	78
Total in three months ended Dec. 31, 2017	$	1,608

To supplement our condensed consolidated financial statements presented in accordance with GAAP, we provide certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain costs and expenses, as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user's overall understanding of our operating performance and our prospects in the future. Specifically, we believe that the non-GAAP information provides useful measures to both management and investors regarding financial and business trends relating to our financial performance by excluding certain costs and expenses that we believe are not indicative of our core operating results. The non-GAAP information is among the budgeting and planning tools that management uses for future forecasting. However, because there are no standardized or generally accepted definitions for most non-GAAP financial metrics, definitions of non-GAAP financial metrics (for example, determining which costs and expenses to exclude when calculating such a metric) are inherently subject to significant discretion. As a result, non-GAAP financial metrics may be defined very differently from company to company, or even from period to period within the same company, which can potentially limit the usefulness of such information to an investor. The presentation of non-GAAP and supplemental information is not meant to be considered in isolation or as a substitute for results prepared and presented in accordance with United States GAAP.

a.	Acquisition-related charges include amortization of intangible assets and inventory fair value adjustments, and transaction costs associated with acquisitions or pending acquisitions, including the pending acquisition of Orbotech. Management believes that the expense associated with the amortization of acquisition related intangible assets and acquisition related costs are appropriate to be excluded because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have short lives, and exclusion of these expenses allows comparisons of operating results that are consistent over time for both KLA's newly acquired and long-held businesses. Management believes excluding these items helps investors compare our operating performances with our results in prior periods as well as with the performance of other companies.

b.	Merger-related charges associated with the terminated merger agreement between KLA and Lam Research Corporation ("Lam") primarily includes employee retention-related expenses, legal expenses and other costs. Management believes that it is appropriate to exclude these items as they are not indicative of ongoing operating results and therefore limit comparability and excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

c.	非GAAP调整的所得税效应includes the income tax effects of the excluded items noted above. Management believes that it is appropriate to exclude the tax effects of the items noted above in order to present a more meaningful measure of non-GAAP net income.

d.	离散的税收项目包括所得税影响of an income tax expense from the enacted tax reform legislation through the Tax Cuts and Jobs-Act (the "Act"), which was signed into law on Dec. 22, 2017, of which the impact is primarily related to the provisional tax amounts recorded for the transition tax on accumulated foreign earnings and the re-measurement of certain deferred tax assets and liabilities as a result of the enactment of the Act. Management believes excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

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SOURCE KLA-Tencor Corporation

Released January 29, 2019

KLA-Tencor Reports Fiscal 2019 Second Quarter Results

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