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KLA (KLAC) Q1 FY2022 earnings: revenue $2.1 billion, up 35.4% on the year

KLA Corp. (KLAC) reported revenue of $2.1 billion for Q1 FY2022, the quarter ended 30 September 2021, up 35.4% on the same quarter a year earlier. Net income was $1.1 billion, up 154.0% on the year, and diluted earnings per share $0.70. The figures are the company's own, from the 10-Q it filed with the SEC on 28 October 2021.

Revenue$2.1 billionup 35.4%
Net income$1.1 billionup 154.0%
Diluted EPS$0.70
QuarterQ1 FY2022ended 30 September 2021

The quarter, against the one before and a year earlier

LineQ1 FY2022Quarter beforeA year earlierChange on the year
Revenue2,084n/an/an/a
Cost of revenue814n/an/an/a
Gross profit1,270n/an/an/a
Gross margin61.0%n/an/a
Research and development258n/an/an/a
Selling, general and administrative193n/an/an/a
Interest expense38.3n/an/an/a
Pre-tax income766n/an/an/a
Income tax-302n/an/an/a
Effective tax rate-39.4%n/an/a
Net income1,068n/an/an/a
Net margin51.3%n/an/a
Diluted EPS$0.70n/an/an/a
$ 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 and capital returned

LineQ1 FY2022Quarter beforeA year earlierChange on the year
Operating cash flow864n/an/an/a
Capital expenditure69.0n/an/an/a
Free cash flow795n/an/an/a
Free cash flow margin38.1%n/an/a
Cash from investing-175n/an/an/a
Cash from financing-609n/an/an/a
Depreciation and amortisation84.8n/an/an/a
Share-based compensation25.2n/an/an/a
Buybacks400n/an/an/a
Dividends paid163n/an/an/a
Dividend per share$0.10n/an/an/a
Diluted shares, weighted1,534mn/an/an/a
Shares outstanding at period end1,516mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2022Quarter beforeA year earlierChange on the year
Shareholders' equity3,861n/an/an/a
Non-controlling interest-1.8n/an/an/a
Debt3,443n/an/an/a
Operating lease liabilities65.9n/an/an/a
Other liabilities3,778n/an/an/a
Total liabilities and equity11,146n/an/an/a
Fixed assets699n/an/an/a
Goodwill2,041n/an/an/a
Intangible assets1,158n/an/an/a
Securities held for sale or to maturity1,115n/an/an/a
Cash and equivalents1,510n/an/an/a
Receivables1,464n/an/an/a
Inventory1,715n/an/an/a
Other assets1,445n/an/an/a
Total assets11,146n/an/an/a

Questions

What was KLA's revenue in Q1 FY2022?

KLA (KLAC) reported revenue of $2.1 billion for Q1 FY2022, the quarter ended 30 September 2021, up 35.4% on the same quarter a year earlier.

How much did KLA earn in Q1 FY2022?

Net income for Q1 FY2022 was $1.1 billion, up 154.0% on the year, and diluted earnings per share $0.70.

When did KLA report Q1 FY2022 results?

KLA filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 28 October 2021.

Quarterly results, the last 20 quarters

Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *
Revenue2,0842,3532,2892,4872,7242,9842,4332,3552,3972,4872,3602,5692,8423,0773,0633,1753,2103,2973,4153,658
Cost of revenue8149088929791,0411,2091,0059639479779941,0111,1471,2211,1761,2071,2431,2711,3281,413
Gross profit1,2701,4441,3971,5081,6831,7751,4271,3921,4501,5101,3661,5581,6941,8551,8871,9671,9672,0262,0872,244
Gross margin61%61%61%61%62%59%59%59%60%61%58%61%60%60%62%62%61%61%61%61%
R&D258265285297319333328317311320322326323346338353360384389399
SG&A193213216237254243238251240237238255251267249263269280291291
Interest expense38.337.940.044.274.474.374.873.574.274.280.082.882.275.071.973.171.169.770.473.3
Pre-tax income7669278469501,0701,1438017768526917029451,0799731,2641,3291,3091,3301,4171,549
Tax rate-39%23%14%15%4%14%13%12%13%16%14%11%12%15%14%9%14%14%15%12%
Net income1,0687177318051,0269796986857415836028369468251,0881,2031,1211,1461,2011,363
Net margin51%30%32%32%38%33%29%29%31%23%25%33%33%27%36%38%35%35%35%37%
Diluted EPS$0.70$0.47$0.48$0.54$0.72$0.69$0.50$0.50$0.54$0.43$0.44$0.62$0.70$0.62$0.82$0.91$0.85$0.87$0.91$1.04
Operating cash flow8648118198191,0126881,0119598846229108939958501,0721,1651,1621,368707906
Capital expenditure69.064.910073.284.493.684.978.768.076.871.860.760.492.382.110095.910685.289.3
Free cash flow7957467197469275959268808165458388329357579901,0651,0661,262622817
Buybacks4004305652,57489.8355478389455438372470567650507426545548626571
Dividends paid163159159158188184181179182197197197198227226254254250249305
Shares outstanding1,516m1,507m1,492m1,418m1,417m1,385m1,372m1,368m1,359m1,352m1,346m1,344m1,338m1,329m1,322m1,320m1,314m1,311m1,306m1,307m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 28 October 2021: the filing.