KLA-Tencor Reports Record Operating Results For Second Fiscal Quarter 2001
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SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 17, 2001--KLA-Tencor Corporation (Nasdaq:KLAC - news) today announced results for its second fiscal quarter ended December 31, 2000. Revenues were a record $573 million, a 73% increase from the $331 million of the December, 1999 quarter and a 7% increase from the previous quarter. Net income was a record $109 million, or $0.57 per share, compared to $49 million, or $0.26 per share, excluding the impact of non-recurring acquisition, restructuring and other charges in the same period one year ago. Net income and earnings per share increased sequentially from the September 2000 quarter when the company reported $106 million and $0.54 per share respectively.
Commenting on the results, KLA-Tencor's CEO Ken Schroeder noted that the company was pleased with the continued strength of its performance in light of recent forecasts from industry analysts. ``We experienced solid bookings for our newest generation inspection and metrology tools. So while we remain cautious about the near-term business outlook and are managing our business accordingly, we are encouraged by our customers' enthusiastic response to the KLA-Tencor technologies and expertise that help speed IC technology transitions while delivering the productivity and yield gains that are attractive in any business climate.''
The Company continued to have a positive book-to-bill ratio and ended the quarter with over six months backlog at current shipping levels. Geographically, Taiwan neared its previous record bookings levels. Europe had record bookings at more than 20% of the total due to continued strength of these customers and the ability of KLA-Tencor solutions to help improve tool productivity and accelerate time-to-yield through innovative multi-tool solutions.
Across the board, bookings reflected strength in all product areas, with record bookings for e-beam inspection, e-beam review and overlay metrology. Bookings activity in our newest wafer inspection product, the 2350 brightfield inspection tool, was extremely high as customers prepared for 0.13 micron and 300mm fabs. The new reticle inspection tool, TeraStar(TM), has also received strong customer interest due to the sensitivity and throughput improvements this new product affords.
Gross margins were at 57.3% for the December quarter. Total fixed costs increased to $191 million from $172 million in the September quarter primarily due to higher material costs and NRE-related costs for the next generation products. The Company increased spending on engineering programs during the quarter to $96 million, compared with $81 million in the September quarter, to support advanced e-beam and optical wafer inspection programs
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