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"KLA's December quarter results were ahead of our expectations and capped a solid year that included strong relative margins and free cash flow growth despite a persistently soft market," said Rick Wallace, president and CEO, KLA Corporation. "While market conditions remain challenging in the near-term, with limited visibility regarding the timing of a resumption in sustainable demand, we believe our business has stabilized around current revenue levels. As we look forward, we are encouraged by the improvement in our customers' businesses across multiple markets and continue to prioritize supporting our customers, executing on our product roadmaps and preparing for growth at the leading edge."
GAAP Results | |||
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| Q2 FY 2024 | Q1 FY 2024 | Q2 FY 2023 |
Total Revenue | $2,487 million | $2,397 million | $2,984 million |
Net Income Attributable to KLA | $583 million | $741 million | $979 million |
Net Income per Diluted Share Attributable to KLA | $4.28 | $5.41 | $6.89 |
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Non-GAAP Results | |||
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| Q2 FY 2024 | Q1 FY 2024 | Q2 FY 2023 |
Net Income Attributable to KLA | $839 million | $786 million | $1,048 million |
Net Income per Diluted Share Attributable to KLA | $6.16 | $5.74 | $7.38 |
A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. KLA will discuss the results for its fiscal year 2024 second quarter, along with its outlook, on a conference call today beginning at 3 p.m. PT. A webcast of the call will be available at: www.kla.com.
Third Quarter Fiscal 2024 Guidance
The following details our guidance for the third quarter of fiscal 2024 ending in March:
- Total revenues is expected to be in a range of $2.30 billion +/- $125 million
- GAAP gross margin is expected to be in a range of 59.4% +/- 1.0%
- Non-GAAP gross margin is expected to be in a range of 61.5% +/- 1.0%
- GAAP diluted EPS is expected to be in a range of $4.93 +/- $0.60
- Non-GAAP diluted EPS is expected to be in a range of $5.26 +/- $0.60
