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Actionable news in KLAC: KLA-Tencor Corporation,

KLA-Tencor: Sr. Director, Investor Relations Sr. Director, Corporate Communications

The following excerpt is from the company's SEC filing.

(408) 875-9529

(408) 875-8733

ed.lockwood@kla-tencor.com

meggan.powers@kla-tencor.com

KLA-TENCOR REPORTS FISCAL 2016 FIRST QUARTER RESULTS

AND AGREEMENT TO COMBINE WITH LAM RESEARCH

MILPITAS, Calif., October 21, 2015 -

KLA-Tencor Corporation

(NASDAQ: KLAC) today announced operating results for its first quarter of fiscal year 2016, which ended on September 30, 2015, and reported GAAP net income of $105 million and GAAP earnings per diluted share of $0.66 on revenues of $643 million.

KLA-Tencor posted solid results for the first quarter of fiscal y ear 2016, with new orders and earnings per share finishing above the range of guidance, and with revenue finishing at the top end of the range of guidance, demonstrating our market leadership, the resilience of our business model, and effective operational execution, said Rick Wallace, President and Chief Executive Officer. The strong demand we are experiencing affirms KLA-Tencors ongoing focus on providing superior value to customers both in terms of meeting market requirements and delivering superior competitive offerings.

GAAP Results

Q1 FY 2016

Q4 FY 2015

Q1 FY 2015

Revenues

643 million

756 million

Net Income

105 million

142 million

72 million

Earnings per Diluted Share

Non-GAAP Results

Q1 FY 2016

Q4 FY 2015

Q1 FY 2015

112 million

159 million

79 million

A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements that are part of this release. Non-GAAP results include the impact of stock-based compensation, but exclude the impact of acquisitions, restructuring, severance and other related charges.

KLA-Tencor to Combine with Lam Research

KLA-Tencor also announced today that it has entered into a definitive agreement with Lam Research Corporation (NASDAQ: LRCX) pursuant to which KLA-Tencor would combine with Lam Research, and KLA-Tencor stockholders would be entitled to elect to receive the economic equivalent of $32.00 in cash and 0.5 of a share of Lam Research common stock for each share of KLA-Tencor stock they hold.

Conference Call information:

KLA-Tencor and Lam Research will host a joint conference call to discuss the results for KLA-Tencors fiscal year 2016 first quarter, along with its outlook, and the transaction to combine with Lam Research.

Please refer to the separate joint press release issued by KLA-Tencor and Lam Research today for additional details regarding the conference call.

Forward-Looking Statements:

Statements in this press release other than historical facts, such as statements regarding: our ability to benefit from our market leadership position; the resilience of our business model; operational execution; our ability to provide superior value to

customers, meet market requirements and deliver superior competitive offerings, are forward-looking statements, and are subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations, and involve a number of risks and uncertainties. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: the demand for semiconductors; the financial condition of the global capital markets and the general macroeconomic environment; new and enhanced product and technology offerings by competitors; cancellation of orders by customers; the ability of KLA-Tencors research and development teams to successfully innovate and develop technologies and products that are responsive to customer demands; KLA-Tencors ability to successfully manage its costs; market acceptance of KLA-Tencors existing and newly issued products; changing customer demands; and industry transitions.

For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this release, please refer to KLA-Tencors Annual Report on Form 10-K for the year ended June 30, 2015, and other subsequent filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA-Tencor assumes no obligation to, and does not currently intend to, update these forward-looking statements.

About KLA-Tencor:

KLA-Tencor Corporation, a leading provider of process control and yield management solutions, partners with customers around the world to develop state-of-the-art inspection and metrology technologies. These technologies serve the...


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