GAAP Results

Q3 FY 2015

2015财年第2季度

Q3 FY 2014

Revenues

$738 million

$676 million

$832 million

Net Income

1.32亿美元

$20 million

$204 million

Earnings per Diluted Share

$ 0.81

$0.12

$1.21

Non-GAAP Results

Q3 FY 2015

2015财年第2季度

Q3 FY 2014

Net Income

$137 million

$113 million

$206 million

Earnings per Diluted Share

$ 0.84

$ 0.68

$1.23

KLA-Tencor Corporation

浓缩Consolidated Unaudited Balance Sheets

(In thousands)

March 31, 2015

June 30, 2014

ASSETS

现金，现金等价物和可销售证券

$

2,339,785

$

3,152,637

Accounts receivable, net

631,608

492,863

库存

632,353

656,457

Other current assets

363,365

284,873

Land, property and equipment, net

321,081

330,263

Goodwill

335,291

335,355

Purchased intangibles, net

15,548

27,697

Other non-current assets

263,189

258,519

Total assets

$

4,902,220

$

5,538,664

负债和股东权益

Current liabilities:

Accounts payable

$

103,189

$

103,422

递延系统利润

146,355

147,923

Unearned revenue

58,295

59,176

Current portion of long-term debt

37,500

—

其他流动负债

631,276

585,090

Total current liabilities

976,615

895,611

非流动负债：

Long-term debt

3,199,299

747,919

Unearned revenue

52,500

57,500

Other non-current liabilities

179,865

168,288

负债总额

4,408,279

1,869,318

Stockholders' equity:

Common stock and capital in excess of par value

534,330

1,220,504

Retained earnings

(2,582)

2,479,113

Accumulated other comprehensive income (loss)

（37,807）

(30,271)

Total stockholders' equity

493,941

3,669,346

负债总额and stockholders' equity

$

4,902,220

$

5,538,664

KLA-Tencor Corporation

浓缩Consolidated Unaudited Statements of Operations

Three months ended March 31,

Nine months ended March 31,

(In thousands, except per share amounts)

2015

2014

2015

2014

Revenues:

Product

$

565,181

$

670,083

$

1,545,663

$

1,716,006

Service

173,278

161,516

512,054

479,059

Total revenues

738,459

831,599

2,057,717

2,195,065

Costs and operating expenses:

Costs of revenues

320,282

342,826

891,962

906,297

Engineering, research and development

124,583

134,161

401,777

401,021

销售、一般和administrative

98,608

93449年

305,125

288,691

Total costs and operating expenses

543,473

570,436

1,598,864

1,596,009

Income from operations

194986年

261,163

458,853

599,056

Interest expense and other, net

28,532

9,917

67,991

31,201

Loss on extinguishment of debt and other, net

—

—

131,669

—

Income before income taxes

166,454

251,246

259,193

567,855

Provision for income taxes

34,816

47,665

35,054

113,831

Net income

$

131,638

$

203,581

$

224,139

$

454,024

每股净收入：

Basic

$

0.81

$

1.22

$

1.37

$

2.73

Diluted

$

0.81

$

1.21

$

1.36

$

2.70

Cash dividends declared per share (including a specialcash dividend of $16.50 per share declared during thethree months ended December 31, 2014)

$

0.50

$

0.45

$

18.00

$

1.35

Weighted-average number of shares:

Basic

161,559

166,253

163,494

166,184

Diluted

162,794

167,989

164,930

168,355

KLA-Tencor Corporation

浓缩Consolidated Unaudited Statements of Cash Flows

March 31,

(In thousands)

Cash flows from operating activities:

Net income

$

131,638

$

203,581

调整以调整净收入与经营活动提供的净现金：

Depreciation and amortization

20,510

20,614

资产减值费用

1,698

—

Non-cash stock-based compensation expense

12,767

12,723

Excess tax benefit from equity awards

（398）

(657)

净收益销售可销售的证券和其他投资

(60)

(281)

资产和负债的变化，企业收购的影响净值：

Decrease (increase) in accounts receivable, net

（1,213）

16,598

Decrease (increase) in inventories

23,745

(14,738)

Decrease in other assets

20,096

48,463

Decrease in accounts payable

(5,054)

（20,818）

Decrease in deferred system profit

(21,732)

(70,008)

Increase in other liabilities

60,420

42,250

Net cash provided by operating activities

242,417

237,727

Cash flows from investing activities:

Acquisition of non-marketable securities

—

(1,345)

收购业务

—

(18,000)

Capital expenditures, net

(10,326)

(18,220)

Purchase of available-for-sale securities

（339,580）

（359,299）

Proceeds from sale of available-for-sale securities

223,438

202,650

Proceeds from maturity of available-for-sale securities

181,151

60,035

Purchase of trading securities

(9,383)

（20,939）

Proceeds from sale of trading securities

13,765

22,521

Net cash provided by (used in) investing activities

59,065

(132,597)

Cash flows from financing activities:

Repayment of debt

(9,375)

—

Issuance of common stock

175

13,334

与既得和释放的限制股票单位有关的税款预扣付款

（1,990）

(2,347)

Common stock repurchases

(168,670)

(59,880)

向股东支付股息

(82,250)

(74,805)

Excess tax benefit from equity awards

398

657

Net cash used in financing activities

（261,712）

(123,041)

Effect of exchange rate changes on cash and cash equivalents

(2,743)

752

Net increase (decrease) in cash and cash equivalents

37,027

(17,159)

现金和现金当量在开始时期

584,865

793,382

Cash and cash equivalents at end of period

$

621,892

$

776,223

Supplemental cash flow disclosures:

Income taxes paid, net

$

8,101

$

9,636

支付的利息

$

4,341

$

135

Non-cash activities:

购买的土地、财产和设备——investing activities

$

2,255

$

4,103

应付股息 - 融资活动

$

41,412

$

—

KLA-Tencor Corporation

浓缩Consolidated Unaudited Supplemental Information

(In thousands, except per share amounts)

Reconciliation of GAAP Net Income to Non-GAAP Net Income

Three months ended

Nine months ended

March 31, 2015

December 31, 2014

March 31, 2014

March 31, 2015

March 31, 2014

GAAP net income

$

131,638

$

20,268

$

203,581

$

224,139

$

454,024

Adjustments to reconcile GAAP net income to non-GAAP net income

Acquisition related charges

a

3,928

3,832

3,828

11,758

11,596

Restructuring, severance and other related charges

b

3,636

3,299

—

10,992

3,239

Debt extinguishment loss and recapitalization charges

c

—

134147年

—

134147年

—

Income tax effect of non-GAAP adjustments

d

(1,840)

(48,720)

(1,193)

（52,099）

(4,642)

Non-GAAP net income

$

137,362

$

112,826

$

206,216

$

328,937

$

464,217

GAAP net income per diluted share

$

0.81

$

0.12

$

1.21

$

1.36

$

2.70

Non-GAAP net income per diluted share

$

0.84

$

0.68

$

1.23

$

1.99

$

2.76

用于稀释的股票计算中使用的股票

162,794

165,317

167,989

164,930

168,355

Pre-tax impact of items included in Condensed Consolidated Unaudited Statements of Operations

Acquisition related charges

Restructuring, severance and other related charges

Debt extinguishment loss and recapitalization charges

Total pre-tax GAAP to non-GAAP adjustments

Three months ended March 31, 2015

Costs of revenues

$

2,507

$

211

$

—

$

2,718

Engineering, research and development

700

680

—

1,380

销售、一般和administrative

721

2,745

—

3,466

Total in three months ended March 31, 2015

$

3,928

$

3,636

$

—

$

7,564

Three months ended December 31, 2014

Costs of revenues

$

2,577

$

—

$

—

$

2,577

Engineering, research and development

700

1,289

—

1,989

销售、一般和administrative

555

2,010

2,478

5,043

Loss on extinguishment of debt and other, net

—

—

131,669

131,669

截至2014年12月31日的三个月内总计

$

3,832

$

3,299

$

134147年

$

141,278

Three months ended March 31, 2014

Costs of revenues

$

1,921

$

—

$

—

$

1,921

Engineering, research and development

836

—

—

836

销售、一般和administrative

1,071

—

—

1,071

Total in three months ended March 31, 2014

$

3,828

$

—

$

—

$

3,828

a.

Acquisition related charges includes amortization of intangible assets associated with acquisitions. Management believes that the expense associated with the amortization of acquisition related intangible assets are appropriate to be excluded because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have short lives, and exclusion of these expenses allows comparisons of operating results that are consistent over time for both KLA-Tencor's newly acquired and long-held businesses. Management believes excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

b.

Restructuring, severance and other related charges include costs associated with employee severance and other exit costs, impairment of certain long-lived assets. Management believes excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

c.

Debt extinguishment loss and recapitalization charges include a pre-tax loss on early extinguishment of debt related to the 6.900% Senior Notes due in 2018, net and certain other expenses incurred in connection with the leveraged recapitalization plan which was completed in the second quarter of the fiscal year ending June 30, 2015. Management believes that it is appropriate to exclude these items as they are not indicative of ongoing operating results and therefore limit comparability and excluding these items helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

d.

Income tax effect of non-GAAP adjustments includes the income tax effects of the excluded items noted above as well as additional true up adjustment to the tax rate arising from the tax impacts associated with the pre-tax loss on extinguishment of debt that was recognized in the three months ended December 31, 2014. Management believes that it is appropriate to exclude the tax effects of the items noted above in order to present a more meaningful measure of non-GAAP net income.