PRODUCTS

Certified Used Equipment

KLA-Tencor Reports Operating Results For Fiscal Year 2002
Share
SAN JOSE, Calif., July 30, 2002 - KLA-Tencor Corporation (Nasdaq: KLAC) today announced its operating results for its fourth quarter and 2002 fiscal year, which ended on June 30, 2002. The company reported $47 million in net income and earnings per share of $0.23 on revenues of $373 million for the fourth quarter. In the fourth quarter of fiscal year 2001, by comparison, KLA-Tencor reported net income of $130 million and earnings per share of $0.67 on revenues of $603 million. In a quarter-over-quarter comparison with the March 2002 fiscal third quarter, net income rose 36 percent from $34 million, earnings per share increased 35 percent from $0.17, and revenue rose 4.5 percent from $357 million. For the full fiscal year 2002, KLA-Tencor reported net income of $216 million and earnings per share of $1.10 on revenue of $1.64 billion. This compares with net income of $373 million and earnings per share of $1.93 (prior to the cumulative effect of the implementation of SAB 101 accounting principles) on revenue of $2.1 billion for the 2001 fiscal year.

According to Ken Schroeder, KLA-Tencor's President and Chief Executive Officer, orders gradually increased during the second half of fiscal 2002, as leading chipmakers worked to overcome the challenges of ramping yields on advanced semiconductor manufacturing processes. "Although we are now entering into a flat period, we are confident that a recovery is underway," Schroeder explained. "While the upturn will ultimately depend on macroeconomic factors outside our control, the semiconductor industry must ready itself to meet the inevitable wave of demand for the products driving the world's microelectronics revolution."

Schroeder added that investments in process control will continue to be essential to meet this demand. "Today, these investments are needed to solve the extremely challenging yield issues associated with 130 nm devices. In the future, advanced process control solutions will be required at even greater levels to ensure that global chipmakers are able to maximize yields of these next-generation chips. As the industry's leading yield management company, KLA-Tencor is ideally positioned to capitalize on this investment trend."

KLA-Tencor reports that it ended the year with six months of backlog at current shipping levels. Geographically, the strongest order activity originated from the United States and Asia excluding Japan. These regions were followed by Europe, where bookings remained at historical levels, and Japan which remained below historical levels. Regional orders were largely consistent with spending on next generation IC technologies.

Gross margins for the current quarter were 50.1 percent versus 49.0 percent in the prior quarter. Operating expenses were $140 million, or 37.5% of revenue. Cash and marketable securities were $1.33 billion, an increase of $117 million from the previous quarter.

Click here to view Condensed Consolidated Unaudited Balance Sheets and Unaudited Statements Of Operations

Forward Looking Statements: Statements in this press release regarding the prospects for an industry "recovery," an "upturn," any future "wave of demand" and current order backlog are forward-looking statements, and are 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: delays or cancellations of orders by customers; shipments or acceptances; inability by the company to meet its production and/or product development schedules; the demand for semiconductors; and new and enhanced product offerings by competitors. For other factors that may cause actual results to differ from those projected, please refer to the company's Form 10-K, Forms 10-Q and other filings with the Securities and Exchange Commission. Actual results could differ materially from those anticipated in forward-looking statements in this release as a result of certain factors, including those set forth in the risk factors described in the company's SEC filings.

About KLA-Tencor: KLA-Tencor is the world leader in yield management and process control solutions for semiconductor manufacturing and related industries. Headquartered in San Jose, Calif., the company has sales and service offices around the world. An S&P 500 company, KLA-Tencor is traded on the Nasdaq National Market under the symbol KLAC.

Contact:
Meggan Powers
Director Corporate Communications

 

 

Related Products