KLA(KLAC)2025-01-30 21:06Financial Performance - KLA Corporation reported GAAP net income of 3.08 billion for Q2 FY 2025, representing a 23.6% increase in revenue compared to 1.10 billion, with non-GAAP net income per diluted share at 6.16 in Q2 FY 2024[3][10]. - KLA Corporation reported a net income of 582,534,000 for the same period in 2023, representing an increase of 41.6%[11]. - Total revenues for reportable segments reached 2,487,176,000 in 2023, reflecting a growth of 23.7%[12]. - KLA Corporation's non-GAAP net income for the three months ended December 31, 2024, was 839,202,000 in 2023, an increase of 30.9%[13]. - KLA Corporation's GAAP net income per diluted share for the three months ended December 31, 2024, was 4.28 in 2023, reflecting a growth of 44.0%[13]. Revenue and Segment Performance - The Semiconductor Process Control segment generated revenues of 2,194,079,000 in the prior year[12]. - The company expects total revenues for Q3 FY 2025 to be in the range of 150 million, with GAAP diluted EPS projected between 8.37[4][5]. Cash Flow and Capital Expenditures - Cash flow from operating activities for the last twelve months was 3.36 billion[4]. - KLA Corporation's free cash flow for the three months ended December 31, 2024, was 545,441,000 in 2023, marking an increase of 38.7%[15]. - The company reported capital expenditures of 76,801,000 in 2023, representing an increase of 20.2%[15]. Asset and Liability Management - Total current assets decreased to 10.03 billion as of June 30, 2024[9]. - KLA's total liabilities were reported at 12.07 billion as of June 30, 2024[9]. - KLA's total stockholders' equity increased to 3.37 billion as of June 30, 2024[9]. - KLA Corporation's total cash and cash equivalents at the end of the period were 1,665,054,000 at the end of the same period in 2023, an increase of 10.4%[11]. Impairment and Charges - The company experienced a 1.76 per diluted share[4][10]. - Impairment charges for goodwill and purchased intangible assets were recognized due to downward revisions in financial outlook for PCB and Display reporting units[21]. - The impairment charge in fiscal 2024 was due to a downward revision in the PCB business forecast, while fiscal 2025 saw continued deterioration in long-term forecasts[21]. Stock Repurchase - The company repurchased 437,817,000 in the same period of 2023, indicating a rise of 48.3%[16]. Non-GAAP Financial Information - The company provides non-GAAP financial information to enhance understanding of operating performance and future prospects[20]. - Non-GAAP metrics include non-GAAP net income, non-GAAP net income per diluted share, non-GAAP gross margin, and free cash flow, which help compare performance across periods and with other companies[20]. - The income tax effect of non-GAAP adjustments includes tax impacts from excluded items and discrete tax items related to foreign currency gains/losses[22]. - Discrete tax items in fiscal 2024 included recognition of a deferred tax asset, while fiscal 2023 had a one-time tax benefit from restructuring international ownership of intellectual property[22].