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To: Donald Wennerstrom who wrote (50991)	1/27/2011 7:50:28 PM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) \| Respond to of 95567

UPDATE 4-KLA-Tencor sees higher bookings in current quarter Thu Jan 27, 2011 6:06pm EST * Q2 non-GAAP EPS $1.10 vs Wall Street view for $1.05 * Company forecasts higher bookings * Stock dips after hours (Rewrites first two paragraphs, adds detail on guidance) By Noel Randewich SAN FRANCISCO, Jan 27 (Reuters) - KLA-Tencor Corp (KLAC.O) expects an increase in orders to help third-quarter revenues surpass Wall Street expectations. The company, which on Thursday reported fiscal second-quarter results that exceeded analysts' targets, told analysts on a conference call that it expects gross bookings to rise between 5 and 25 percent in the third quarter from the second. It said it expects current-quarter revenue would be between $780 million and $830 million. Analysts had forecast revenue of $745 million for the current quarter. "It's a reflection of their consistent ability to deliver both top and bottom line results," said Stifel Nicolaus analyst Patrick Ho. Ho said the range of KLA-Tencor's gross bookings guidance was higher than he expected but warned the company's stock could face selling pressure after strong gains through much of January. The company's stock was down 1.38 percent after hours after closing up 0.34 percent at $44.68. Chip makers rebounding from the recession increased investments in chip equipment by around 130 percent last year. In 2011, spending is expected to rise about 11 percent, including recent plans announced by major chipmakers, according to RBC Capital analyst Mahesh Sanganeria. KLA-Tencor reported non-GAAP earnings per share of $1.10, compared with 28 cents a year-ago. Analysts, on average, had expected $1.05 per share, according to Thomson Reuters I/B/E/S. KLA-Tencor's revenue in the quarter was $766 million compared with $440 million a year ago. Analysts, on average, had expected $718 million. Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), the world's biggest contract chipmaker, said on Thursday its capital expenditure would grow about a third to $7.8 billion in 2011 as its clients sell more chips for tablet PCs, smartphones and high-resolution televisions. [ID:nTOE70O020] Intel (INTC.O) said this month it was nearly doubling its capital spending in 2011 to around $9 billion to add more cutting-edge output capacity. KLA-Tencor said net income in the second quarter rose to$185 million, or $1.09 a share, from $22 million, or 13 cents a share, in the year-ago period.