KLA Reports Fiscal 2022 Second Quarter Results

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KLA Corporation has announced operating results for its second quarter of fiscal year 2022, which ended on Dec. 31, 2021, and reported GAAP net income attributable to KLA of $717.4 million and GAAP earnings per diluted share attributable to KLA of $4.71 on revenue of $2.35 billion.

Highlights:

• Total revenues were $2.35 billion, above the midpoint of the range of guidance;
• GAAP diluted EPS attributable to KLA was $4.71 and non-GAAP diluted EPS attributable to KLA was $5.59, each within the range of guidance;
• Cash flow from operating activities and free cash flow were $810.8 million and $745.9 million, respectively;
• Capital returns were $589.0 million with $159.1 million in dividends paid and $429.9 million in share repurchases.

"KLA's December quarter and calendar 2021 performance exceeded our expectations in a demanding and challenging environment. Our results underscore the importance of our products and solutions in the marketplace, consistent execution by our global teams, and technology leadership and innovation that is guided by the KLA Operating Model," commented Rick Wallace, president and chief executive officer of KLA Corporation. "In addition to outperforming our 2023 long-term target model and demonstrating strong earnings leverage, KLA returned $2 billion in capital to shareholders during calendar 2021 via both dividends and stock repurchases."

Third Quarter Fiscal 2022 Guidance

The following details our guidance for the third quarter of fiscal 2022 ending in March:

• Total revenues between $2,100 million to $2,300 million
• GAAP gross margin is expected to be in a range of 59.5% to 61.7%
• Non-GAAP gross margin is expected to be in a range of 61.5% to 63.5%
• GAAP diluted EPS attributable to KLA is expected to be in a range of $4.09 to $4.99
• Non-GAAP diluted EPS attributable to KLA in a range of $4.35 to $5.25