The company said product revenues decreased year over year for the 3 months and 6 months ended December 31, 2023, while service revenues increased on a larger installed base. It cited the broad macro-driven slowdown weakening semiconductor demand and customers cutting capital expenditure plans as the reasons for the product revenue decline.

1. 01

   The company said product revenues decreased year over year for the 3 months and 6 months ended December 31, 2023, while service revenues increased on a larger installed base. It cited the broad macro-driven slowdown weakening semiconductor demand and customers cutting capital expenditure plans as the reasons for the product revenue decline.

2. 02

   The company said it found that the long-term outlook for its PCB and Display businesses deteriorated significantly in fiscal 2024 Q2. It said it recorded goodwill and purchased intangible asset impairment charges of $219.0 million for the PCB and Display reporting unit in the 3-month and 6-month periods.

3. 03

   KLA said cash, cash equivalents and marketable securities totaled $3.34 billion as of December 31, 2023, an increase of $99.8 million from June 30, 2023. It said the increase was offset in part by stock repurchases of $893.2 million and cash used for dividends and dividend equivalents of $378.4 million, while net cash provided by operating activities of $1,506.0 million was the main driver.

4. 04

   The company said the aggregate principal amount of its senior unsecured notes outstanding as of December 31, 2023 was $5.95 billion, and it had no borrowings outstanding under its $1.50 billion Revolving Credit Facility. The company also disclosed that on December 2023, Fitch raised its senior unsecured credit rating to A from A-.

Key figures

Quarter ended December 31, 2023

Revenue

$2.5B

Net income

$583M

EPS

$4.28

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.