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KLATencor Corp. Reports Operating Results (10-K)
Posted by: gurufocus (IP Logged)
Date: August 6, 2012 05:27PM

KLATencor Corp. (KLAC) filed Annual Report for the period ended 2012-06-30. Kla-tencor Corporation has a market cap of $8.72 billion; its shares were traded at around $52.03 with a P/E ratio of 11.2 and P/S ratio of 2.8. The dividend yield of Kla-tencor Corporation stocks is 2.7%.



Highlight of Business Operations:

SG&A expenses during the fiscal year ended June 30, 2011 were higher compared to the fiscal year ended June 30, 2010, primarily due to increases in employee-related expenses of $37.0 million as a result of additional headcount to support higher sales volume and higher variable compensation, partially offset by a decrease in asset impairment charges of $13.4 million, a decrease in legal expenses of $9.1 million related to our historical stock option practices and certain indemnification obligations, and an increase in bad debt recovery of $6.7 million.

Tax expense as a percentage of income during the fiscal year ended June 30, 2012 was 22.4% compared to 28.4% for the fiscal year ended June 30, 2011. Tax expense decreased primarily from a decrease in state tax expense, a decrease in tax reserves, and an increase in the percentage of our revenues that were earned outside the U.S. in jurisdictions with lower tax rates.

Tax expense as a percentage of income during the fiscal year ended June 30, 2011 was 28.4% compared to 27.1% for the fiscal year ended June 30, 2010. Tax expense increased primarily from an increase in state tax expense, a decrease in the percentage of our revenues that were earned outside the U.S. in jurisdictions with lower tax rates, and an increase in tax reserves, offset by a decrease in the effect of shortfalls from employee stock activity.

Net cash used in investing activities during the fiscal year ended June 30, 2012 increased compared to the fiscal year ended June 30, 2011 from $360 million to $529 million, primarily as a result of an increase in the use of cash for purchases of available-for-sale and trading securities, net of sales and maturities, of approximately $147 million during the fiscal year ended June 30, 2012 compared to the fiscal year ended June 30, 2011.

Net cash used in investing activities during the fiscal year ended June 30, 2011 increased compared to the fiscal year ended June 30, 2010 from $228 million to $360 million, primarily as a result of an increase in the use of cash for purchases of available-for-sale and trading securities, net of sales and maturities, of approximately $124 million during the fiscal year ended June 30, 2011 compared to the fiscal year ended June 30, 2010.

Read the The complete Report



Stocks Discussed: KLAC,
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