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KLA-Tencor Reports Third Quarter Operating Results
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San Jose, Calif. -- April 13, 2000 - KLA-Tencor Corporation today announced operating results for its third quarter ended March 31, 2000. Revenues were $413 million, a 96% increase from the $211 million of the March, 1999 quarter. Net income improved over three-fold to $73 million or $0.38 per share compared to $21 million or $0.11 per share in the same period one year ago.

The Company had record bookings during the quarter and backlog increased substantially. Orders were particularly strong from Taiwan and the Asia Pacific region which includes Singapore, Malaysia, and China. U.S. orders continued to be strong at their normal percent of the total. Orders from Japan and Europe increased but were a smaller portion of the total compared to normal levels.

Seven product lines established new quarterly records resulting from demand for the advanced inspection requirements for sub-.18 micron technologies and the transition to copper interconnect. The most significant quarter to quarter growth occurred in E-Beam wafer inspection (eS20), thin film measurement (ASET-F5), and Automated Macro Inspection (2401) products. E-Beam wafer inspection orders were driven by customer requirements for .13 micron yield management. Thin film measurement obtained record orders primarily through continued share of market gains. Automated Macro Inspection (2401) serves a new market and began to gain rapid adoption by customers worldwide.

Gross margins increased to 56% during the March quarter from 54% in the December quarter. Total fixed costs decreased as a percent of revenue to 34%, or $140 million, in the March quarter from 35% in the December quarter.

Cash and investments increased $34 million during the quarter to $888 million. Working capital investments in accounts receivable and inventory rose in proportion with the revenue increase to $403 million for accounts receivable and $256 million for inventory.

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

 

 

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