KLA-Tencor Earnings: Surpassing Expectations

KLA-Tencor Corporation (NASDAQ:KLAC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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KLA-Tencor Corporation Earnings Cheat Sheet

Results: Net income decreased -3.43% to $107 million (63 cents per diluted share) in the quarter versus a net gain of $110.8 million in the year-earlier quarter.

Revenue: Rose 4.75% to $673 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: KLA-Tencor Corporation reported adjusted net income of 63 cents per share. By that measure, the company beat the mean analyst estimate of $0.56. It beat the average revenue estimate of $634.9 million.

Quoting Management:“In the second quarter, KLA-Tencor delivered revenue and earnings per share at or above the upper end of our range of guidance in the face of a challenging demand environment,” said Rick Wallace, president and CEO of KLA-Tencor…

…We believe that the accelerated pace of innovation by our customers at the leading edge, and the essential role that process control plays in the success of that innovation, will continue to provide long-term opportunities for KLA-Tencor to advance our market leadership and to deliver superior financial performance.”

Key Stats:

Revenue decreased 6.62% from $720.71 million in the previous quarter. Net income decreased 20.96% from $135.37 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.03 to a profit $0.81. For the current year, the average estimate has moved down from a profit of $4.07 to a profit of $3.13 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)