The company said that product revenues decreased from the year-earlier period for the three and nine months ended March 31, 2024. It cited the broad semiconductor demand slowdown and reduced capital spending plans by customers as the main factors, and said service revenues rose due to growth in its installed base.

1. 01

   The company said that product revenues decreased from the year-earlier period for the three and nine months ended March 31, 2024. It cited the broad semiconductor demand slowdown and reduced capital spending plans by customers as the main factors, and said service revenues rose due to growth in its installed base.

2. 02

   KLA said it recorded goodwill and purchased intangible asset impairment charges of $219.0 million for the PCB and Display reporting unit in the 3 months ended December 31, 2023. It also said it recorded a goodwill impairment charge of $70.5 million after deciding in March 2024 to exit the Display business.

3. 03

   KLA said cash, cash equivalents and marketable securities totaled $4.29 billion as of March 31, 2024, an increase of $1.05 billion from June 30, 2023. Over the 9 months, net cash provided by operating activities was $2.42 billion and net cash received from debt issuance was $735.0 million, which was partly offset by stock repurchases of $1.27 billion and dividend and dividend equivalent payments of $575.5 million.

4. 04

   As of March 31, 2024, the aggregate principal amount of senior unsecured notes outstanding was $6.70 billion, the company said. It cited the $750.0 million Senior Notes issued in February 2024 as increasing its interest expense. The company also said there were no outstanding borrowings under the $1.50 billion Revolving Credit Facility, and its leverage ratio was 1.58 to 1.00.

Key figures

Quarter ended March 31, 2024

Revenue

$2.4B

Net income

$602M

EPS

$4.43

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.