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KLA Corporation (KLAC-0.88%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $3,076,851,000 from $2,486,726,000 in the same quarter the previous year. This increase is attributed to strong demand for inspection products and higher service revenue due to an increased installed base.
Product revenues rose to $2,409,462,000 from $1,921,809,000, while service revenues increased to $667,389,000 from $564,917,000 in the same period last year.
The company reported a gross margin of 60.3% for the quarter, slightly down from 60.7% in the previous year, influenced by a less profitable mix of products and services sold.
Research and development expenses increased to $346,157,000 from $320,418,000, reflecting higher employee-related expenses and increased depreciation costs.
Selling, general, and administrative expenses rose to $267,081,000 from $237,244,000, driven by higher employee-related and facility expenses.
KLA recorded a goodwill and purchased intangible assets impairment charge of $239,100,000, related to its PCB and Component Inspection segment.
Net income for the quarter was $824,527,000, up from $582,534,000 in the previous year. The effective tax rate was 15.2%, compared to 15.7% in the same quarter last year.
Cash provided by operating activities was $1,844,753,000, while cash used in investing and financing activities was $442,667,000 and $2,420,675,000, respectively.
KLA had cash, cash equivalents, and marketable securities totaling $3,780,405,000 as of December 31, 2024. The company continues to focus on technological innovation and managing its operations efficiently to respond to market conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the KLA Corporation quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.