KLA reports operating results for first quarter.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Oct. 16, 1995--KLA Instruments Corporation today reported record first quarter sales of $149,076,000 and record net income of $27,326,000 compared with sales of $83,179,000 and net income of $12,898,000 for the first quarter last year. Quarterly earnings per share were $0.52 this year compared with $0.27 in the prior year after adjustment for the Company's 2-for-1 stock split in September 1995. For the previous quarter ended June 30, 1995, the Company's sales, net income and earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation , adjusted for the split, were $136,384,000, $23,936,000 and $0.47 per share, respectively. Shipments of the Company's wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. inspection products again set new records as demand for the KLA KLA Kosovo Liberation Army KLA Key Learning Area (NSW Department of Education) KLA Kansas Livestock Association (Topeka, KS) KLA Kentucky Library Association KLA Kansas Library Association 2100 series yield monitoring systems exceeded expectations. This reflects the accelerating acceptance of the Company's in-line wafer monitoring equipment that allows semiconductor manufacturers to optimize optimize - optimisation device yields. A revenue record was also set in the Metrology metrology Science of measurement. Measuring a quantity means establishing its ratio to another fixed quantity of the same kind, known as the unit of that kind of quantity. Division. The ATS Division equaled last quarter's record. New orders for the quarter exceeded $200 million for the first time on the strength of unexpectedly strong demand for the wafer inspection division's 2100 series products. New order records were also set in the RAPID Division where industry demand for the new reticle ret·i·cle n. A grid or pattern placed in the eyepiece of an optical instrument, used to establish scale or position. [Latin r inspection capability continued to grow with both mask shops A Maskshop is a factory which exclusively manufactures photomasks for use in the Semiconductor industry within a cleanroom. There are two distinct types found in the trade. and fab lines increasing their orders. The optical metrology business also set new records as customers began to require more stepper step·per n. 1. One that steps, especially in a fast or spirited manner. 2. Informal A dancer. Noun 1. set-up capabilities on the newer lithography lithography (lĭthŏg`rəfē), type of planographic or surface printing. It is distinguished from letterpress (relief) printing and from intaglio printing (in which the design is cut or etched into the plate). tools for sub-half-micron lines. Adoption of the Company's methodologies for optimizing yields at fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facilities continued to gain industry acceptance. By quarter end, the 10 fabs with the most pervasive pervasive, adj indicates that a condition permeates the entire development of the individual. use of KLA's yield monitors had 75 units installed or on order; the top 40 fabs averaged almost five systems per fab; and the number of fabs with multiple systems exceeded 100 for the first time. "Our development activities made excellent progress during the quarter," said Ken Schroeder, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , "and we believe we will be able to continue to increase the speed and sensitivity of the 2100 series to keep pace with the leading industry requirements." Since its introduction in 1991, the KLA 2100 series has had a total of five different models, each offering improved capabilities over the previous model. Geographically, the Asia-Pacific market was stronger than its normal 20% of the Company's total new orders. Taiwan was particularly strong, reflecting the large number of new fabs under construction. The U.S. was above its normal one-third of the total, largely on the strength of the WISARD Wis´ard n. 1. See Wizard. Division's multiple orders and the adoption of in-line inspection methodologies by large ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. customers. Gross margins improved slightly during the quarter to 55.3%, reflecting improvements in mix and continuing manufacturing efficiencies. Fixed operating costs operating costs npl → gastos mpl operacionales declined slightly as a percent of sales. During the quarter, the Company repaid its mortgage debt of $20 million and now has no long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. in its capital structure. Cash and securities balances after this repayment were about the same as last quarter at $241 million. KLA Instruments is the world's leading manufacturer of yield monitoring and process control systems for the semiconductor manufacturing industry. KLA is a publicly held corporation, traded on the Nasdaq National Market under the symbol "KLAC." -0-
KLA INSTRUMENTS CORPORATION
Summary Consolidated Statement of Operations
Three Months Ended
Sept. 30,
1994 1995
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(In thousands, except per share amounts)
Net sales $ 83,179 $149,076
Cost and expenses:
Cost of sales 40,602 66,672
Engineering, research and development 8,182 15,621
Selling, general and administrative 16,450 27,855
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65,234 110,148
Income from operations 17,945 38,928
Interest income and other, net 1,497 4,187
Interest expense (474) (418)
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Income before income taxes 18,968 42,697
Provision for income taxes 6,070 15,371
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Net income $ 12,898 $ 27,326
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Net income per share $ 0.27 $ 0.52
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Shares used in computing net income per share 47,760 52,408
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Summary Consolidated Balance Sheet
June 30, Sept. 30
1995 1995
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ASSETS (In thousands)
Cash, cash equivalents and marketable
securities $244,753 $241,576
Accounts receivable 129,274 148,355
Inventories 79,759 92,584
Other current assets 33,104 26,417
Land, property and equipment, net 49,004 53,716
Other assets 10,402 7,828
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Total Assets $546,296 $570,476
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities $112,851 $129,783
Current portion of long-term debt 20,000 --
Deferred income taxes 9,476 9,476
Stockholders' equity 403,969 431,217
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Total Liabilities and Stockholders'
Equity $546,296 $570,476
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CONTACT: KLA Instruments Corporation Robert J. Boehlke, 408/468-6285 |
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