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KLA-Tencor Corp KLAC
Q1 2011 Earnings Call Transcript

Transcript Call Date 10/28/2010

Operator: Good afternoon, my name is Amanda and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA-Tencor First Quarter Fiscal 2011 Conference Call.

I would now like to turn the conference call over to Ed Lockwood of KLA-Tencor Investor Relations. Mr. Lockwood, you may begin.

Ed Lockwood - Senior Director, IR: Thank you, Amanda. Good afternoon, everyone, and welcome to KLA-Tencor's First Quarter Fiscal Year 2011 Earnings Conference Call. Joining me on our call today are Rick Wallace, our President and Chief Executive Officer and Mark Dentinger, our Chief Financial Officer.

We're here today to discuss fourth quarter results for the period ended September 30, 2010. We released these results this afternoon at 1.15 p.m. Pacific Time. If you haven't seen the release, you can find it on our website, at www.kla-tencor.com, or call 408-875-3600 to request a copy.

A simulcast of this call will be available on demand following its completion on the Investors 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, 2009 and our subsequently filed 10-Q reports. In those filings, you'll 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 2009 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 reassured that 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 - President and CEO: Thanks, Ed. Thank you all for joining us for our call today. I am going to focus my commentary on the summary highlights of the September quarter, and then provide guidance for December, then Mark's going to follow with the review of the financials.

First of all, there is no shortage of debate today after the pace of the global economy recovery or the near-term direction in semiconductor and the semiconductor equipment market.

For KLA-Tencor, September results demonstrate that process control adoption remains at a very high level, and our numbers also show that the Company is successfully executing on our long-term strategic objectives, delivering sustained market leadership, strong revenue growth, record margins, record earnings per share in the quarter.

New bookings in the September quarter were $785 million, that's the third highest level in the Company's history. The level of demand we are experiencing today is driven by the combination of strong adoption in the core market and a healthy contribution from new markets and our services business.

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