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KLA-Tencor Management Discusses Q4 2012 Results - Earnings Call Transcript

A simulcast of this call will be accessible on demand following its completion on the Investor section of our website. There, you'll also find a calendar of future investor events, presentations and conferences, as well as links to KLA-Tencor's SEC filings, including our annual report on Form 10-K for the year ended June 30, 2011, and our subsequently filed 10-Q report.

In these filings, you'll also find descriptions of risk factors that could impact our future results. As you know, our future results are subject to risks. Any forward-looking statements, including those we make on this call today, are subject to those risks, and KLA-Tencor cannot guarantee those forward-looking statements will come true.

Our actual results may differ significantly from those projected in our forward-looking results. More information regarding factors that could cause those differences is contained in the filings we make with the SEC from time to time, including our fiscal year 2011 Form 10-K and our current reports on Form 8-K. We assume no obligation and do not intend to update these forward-looking statements. However, you can be assured any updates we do provide will be broadly disseminated and available over the web.

With that, I'll turn the call over to Rick.

Richard P. Wallace

Thanks, Ed. Thank you, all, for joining us for our call today. Given that we provided a thorough update just 2 weeks ago at SEMICON West, I'll focus my commentary today on summary highlights of our results and provide guidance for September. Then Mark will follow with a more detailed review of the Q4 and fiscal year '12 financials.

Let's begin with a quick review of Q4. Gross bookings for the June quarter were $827 million, slightly down from March. Foundry was 65% of semiconductor system orders in Q4, continuing the strong foundry demand trends over the past several quarters. Logic was steady at 20% and memory was 15% of new orders. June quarter revenue grew 6% to a revenue record $892 million, coming in at the upper end of the range of guidance. And non-GAAP earnings per share was $1.49 in Q4. Our EPS was above the range of guidance, partially due to a 19% tax rate for the quarter. If our tax rate had been 26% as expected, our EPS would have been $1.36 at the high end of the range of guidance. Mark will provide more detail on this tax commentary.

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