KLA Corporation Hosts Investor Day
- Announces 13% increase in quarterly dividend level to $0.85 per share from $0.75
- Announces additional $1 billion share repurchase authorization
- Affirms Q3-CY19 revenue guidance of $1.31 billion to $1.39 billion, and non-GAAP diluted earnings per share of $2.04 to $2.34.
MILPITAS, Calif, Sept. 17, 2019 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC) will hold an investor day today in New York City with presentations given by Rick Wallace, president and CEO, Bren Higgins, executive vice president and CFO, and other senior executives.
Management will present strategic growth initiatives and provide an in-depth review of the company's systems, services, and Orbotech businesses, as well as growth opportunities in automotive electronics.
In addition, the company is announcing an increase in the quarterly dividend level to $0.85 per share, the tenth consecutive annual increase, as well as authorization from the board of directors to repurchase up to $1 billion of the company's common stock. This is in addition to the existing share repurchase authorization, which had $859 million remaining as of June 30, 2019.
"We are excited to host KLA Corporation's investor day to provide the investment community with a deeper understanding of our company and the opportunities that lie before us as we execute our strategic objectives," said Rick Wallace, president and CEO. "With the recent acquisition of Orbotech, we have have extended our reach in the global electronics value chain, and we continue to execute our profitable growth strategy, with the KLA operating model as the framework to drive performance," added Wallace. "The announced increase in the quarterly dividend level and new share repurchase authorization reflect our confidence in these strategies and the opportunities that lie ahead for KLA."
Event Webcast Details
The presentation, which includes question and answer sessions, will begin at 8:30 a.m. (ET) and is expected to conclude at approximately 12:30 p.m. The public may access the event through a live webcast available on the Investor Relations section of KLA Corporation's website. The conference will also be available by dialing the following numbers: (855) 459-5948 in the U.S. or (330) 863-3386 for international participants; Conference ID 4966377. Presentation materials will be posted to the Investor Relations section of the Company's website today at approximately 8:30 a.m. (ET). A replay of the webcast will be available following the presentation at the same link listed above.
KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Additional information may be found at www.kla.com (KLAC-F).
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including statements regarding our anticipated revenue and non-GAAP diluted earnings per share for the quarter ending September 30, 2019. For the factors that may cause actual results to differ materially from those projected and anticipated in the forward-looking statements in this presentation, please refer to the Company's annual report on Form 10-K for the year ended June 30, 2019 and other filings with the Securities and Exchange Commission (including, without limitation, the risk factors described therein).
SOURCE KLA Corporation
Released September 17, 2019