MILPITAS, Calif., Jan. 25, 2024 — (PRNewswire) — KLA Corporation (NASDAQ: KLAC) today announced financial and operating results for its second quarter of fiscal year 2024, which ended on Dec. 31, 2023, and reported GAAP net income of $582.5 million and GAAP earnings per diluted share of $4.28 on revenue of $2.49 billion.

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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."

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

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