KLA CORPORATION REPORTS FISCAL 2022 FOURTH QUARTER AND FULL YEAR RESULTS

Note Regarding Forward-Looking Statements:

Statements in this press release other than historical facts, such as statements pertaining to total revenues, GAAP and non-GAAP gross margin and GAAP and non-GAAP diluted EPS attributable to KLA for the quarter ending Sept. 30, 2022 are forward-looking statements and subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations and involve a number of risks and uncertainties. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: the impact of the COVID-19 pandemic on the global economy and on our business, financial condition and results of operations, including the supply chain constraints we are experiencing as a result of the pandemic; economic, political and social conditions in the countries in which we, our customers and our suppliers operate, including rising inflation and interest rates, Russia's invasion of Ukraine and global trade policies; disruption to our manufacturing facilities or other operations, or the operations of our customers, due to natural catastrophic events, health epidemics or terrorism; ongoing changes in the technology industry, and the semiconductor industry in particular, including future growth rates, pricing trends in end-markets, or changes in customer capital spending patterns; our ability to timely develop new technologies and products that successfully anticipate or address changes in the semiconductor industry; our ability to maintain our technology advantage and protect our proprietary rights; our ability to compete with new products introduced by our competitors; our ability to attract, onboard and retain key personnel; cybersecurity threats, cyber incidents affecting our and our customers, suppliers and other service providers' systems and networks and our and their ability to access critical information systems for daily business operations; liability to our customers under indemnification provisions if our products fail to operate properly or contain defects or our customers are sued by third parties due to our products; exposure to a highly concentrated customer base; availability and cost of the wide range of materials used in the production of our products; our ability to operate our business in accordance with our business plan; legal, regulatory and tax environments in which we perform our operations and conduct our business and our ability to comply with relevant laws and regulations; our ability to pay interest and repay the principal of our current indebtedness is dependent upon our ability to manage our business operations, our credit rating and the ongoing interest rate environment, among other factors; instability in the global credit and financial markets; our exposure to currency exchange rate fluctuations, or declining economic conditions in those countries where we conduct our business; changes in our effective tax rate resulting from changes in the tax rates imposed by jurisdictions where our profits are determined to be earned and taxed, expiration of tax holidays in certain jurisdictions, resolution of issues arising from tax audits with various authorities or changes in tax laws or the interpretation of such tax laws; and our ability to identify suitable acquisition targets and successfully integrate and manage acquired businesses. For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this press release, please refer to KLA Corporation's Annual Report on Form 10-K for the year ended June 30, 2021, and other subsequent filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA Corporation assumes no obligation to, and does not currently intend to, update these forward-looking statements.

 

KLA Corporation




Condensed Consolidated Unaudited Balance Sheets








(In thousands)

June 30, 2022


June 30, 2021

ASSETS




Current assets:




Cash and cash equivalents

$               1,584,908


$               1,434,610

Marketable securities

1,123,100


1,059,912

Accounts receivable, net

1,811,877


1,305,479

Inventories

2,146,889


1,575,380

Other current assets

502,137


320,867

Total current assets

7,168,911


5,696,248

Land, property and equipment, net

849,929


663,027

Goodwill

2,320,049


2,011,172

Deferred income taxes, non-current

579,173


270,461

Purchased intangibles, net

1,194,414


1,185,311

Other non-current assets

484,612


444,905

Total assets

$            12,597,088


$            10,271,124

LIABILITIES, NON-CONTROLLING INTEREST AND STOCKHOLDERS ' EQUITY

Current liabilities:




Accounts payable

$                  443,338


$                  342,083

Deferred system revenue

500,969


295,192

Deferred service revenue

381,737


284,936

Short-term debt


20,000

Other current liabilities

1,545,039


1,161,016

Total current liabilities

2,871,083


2,103,227

Long-term debt

6,660,718


3,422,767

Deferred tax liabilities

658,937


650,623

Deferred service revenue

124,618


87,575

Other non-current liabilities

882,642


631,290

Total liabilities

11,197,998


6,895,482

Stockholders' equity:




Common stock and capital in excess of par value

1,061,940


2,175,988

Retained earnings

366,882


1,277,123

Accumulated other comprehensive loss

(27,471)


(75,557)

Total KLA stockholders' equity

1,401,351


3,377,554

Non-controlling interest in consolidated subsidiaries

(2,261)


(1,912)

Total stockholders' equity

1,399,090


3,375,642

Total liabilities and stockholders' equity

$            12,597,088


$            10,271,124


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