KLA (KLAC) FY2014 results: revenue $2.9 billion, up 3.0% on the year
KLA Corp. (KLAC) reported revenue of $2.9 billion for fiscal 2014, the year ended 30 June 2014, up 3.0% on the year before. Net income was $583 million, up 7.3%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2014.
Revenue
$2.9 billion
+3.0% on the year
FY2009FY2014
Operating margin
26.4%
25.7% a year earlier
FY2009FY2014
Net income
$583 million
+7.3% on the year
FY2009FY2014
Diluted EPS
$0.35
+8.1% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,929
2,843
3,172
+3.0%
Cost of revenue
1,233
1,237
1,330
-0.4%
Gross profit
1,696
1,605
1,842
+5.7%
Gross margin
57.9%
56.5%
58.1%
Research and development
539
488
453
+10.6%
Selling, general and administrative
385
388
373
-0.7%
Operating income
772
730
1,016
+5.8%
Operating margin
26.4%
25.7%
32.0%
Interest expense
53.8
54.2
54.2
-0.7%
Pre-tax income
734
691
974
+6.3%
Income tax
152
147
218
+2.9%
Effective tax rate
20.7%
21.4%
22.4%
Net income
583
543
756
+7.3%
Net margin
19.9%
19.1%
23.8%
Diluted EPS
$0.35
$0.32
$0.44
+8.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
779
913
942
-14.7%
Capital expenditure
67.5
74.6
57.6
-9.5%
Free cash flow
711
839
884
-15.2%
Free cash flow margin
24.3%
29.5%
27.9%
Cash from investing
-676
-241
-529
Cash from financing
-459
-429
-364
Depreciation and amortisation
83.1
87.5
92.1
-5.1%
Share-based compensation
60.9
70.1
78.8
-13.0%
Buybacks
241
273
264
-11.9%
Dividends paid
299
266
234
+12.4%
Dividend per share
$0.18
$0.16
$0.14
+12.5%
Diluted shares, weighted
1,681m
1,693m
1,701m
-0.7%
Shares outstanding at period end
1,654m
1,654m
1,667m
+0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,669
3,482
3,316
+5.4%
Debt
745
747
747
-0.3%
Other liabilities
1,124
1,058
1,038
+6.3%
Total liabilities and equity
5,539
5,287
5,100
+4.8%
Fixed assets
330
305
278
+8.2%
Goodwill
335
327
328
+2.7%
Intangible assets
27.7
34.5
55.6
-19.8%
Investments
2,522
1,933
1,783
+30.4%
Cash and equivalents
631
985
751
-36.0%
Receivables
493
525
701
-6.1%
Inventory
656
634
651
+3.5%
Other assets
543
543
553
+0.1%
Total assets
5,539
5,287
5,100
+4.8%
10-K for the year ended 30 June 2014, filed 8 August 2014: the filing.