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THE OFFERING
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Common Stock offered by the Company............................. 2,000,000 shares
Common Stock to be outstanding after the offering............... 21,657,000 shares(1)
Use of proceeds................................................. The Company intends to use the
net proceeds for general
corporate purposes. In addition,
the Company may use a portion of
the net proceeds to acquire
businesses, products or
technologies complementary to
the Company's current
businesses. See "Use of
Proceeds."
The Nasdaq National Market symbol............................... KLAC
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(1) Based on the number of shares outstanding at September 30, 1993. Excludes
3,468,000 shares of Common Stock reserved for issuance under the Company's
stock option and employee stock purchase plans, including 2,568,000 shares
issuable upon the exercise of outstanding options at an average exercise
price of $7.90 per share.
SUMMARY FINANCIAL INFORMATION
(IN MILLIONS, EXCEPT PER SHARE DATA)
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QUARTERS ENDED
YEARS ENDED JUNE 30, SEPTEMBER 30,
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1989 1990 1991 1992 1993 1992 1993
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Statement of Operations Data:
Net sales....................... $157.8 $161.6 $148.4 $156.0 $167.2 $ 38.5 $ 51.9
Gross profit.................... 73.7 75.5 65.6 56.0 59.8 13.0 20.7
Engineering, research and
development expense........... 23.4 26.3 27.1 25.9 16.3 4.0 4.9
Selling, general and
administrative expense........ 28.3 31.5 33.5 35.5 32.7 7.5 9.9
Restructuring charges
(recovery).................... -- -- -- 8.2 (0.7) -- --
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Income (loss) from operations... 22.0 17.7 5.0 (13.6) 11.5 1.5 5.9
Interest income and other,
net........................... 1.0 1.8 1.8 1.2 1.2 0.3 0.2
Interest expense................ (1.0) (0.6) (3.3) (3.9) (3.4) (1.0) (0.5)
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Income (loss) from continuing
operations before income
taxes......................... 22.0 18.9 3.5 (16.3) 9.3 0.8 5.6
Provision for income taxes...... 8.0 6.7 1.1 0.3 2.3 0.2 1.4
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Income (loss) from continuing
operations.................... $ 14.0 $ 12.2 $ 2.4 $(16.6) $ 7.0 $ 0.6 $ 4.2
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Income (loss) per share from
continuing operations......... $ 0.78 $ 0.67 $ 0.13 $(0.90) $ 0.35 $ 0.03 $ 0.20
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Weighted average common and
dilutive common equivalent
shares........................ 17.9 18.0 18.6 18.5 19.7 18.9 20.8
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AT SEPTEMBER 30, 1993
AT JUNE 30, ---------------------
-------------------- AS
1992 1993 ACTUAL ADJUSTED(1)
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Balance Sheet Data:
Cash and cash equivalents............................. $23.7 $52.4 $ 37.6 $96.9
Working capital....................................... 84.0 93.6 101.4 160.8
Total assets.......................................... 188.5 199.1 199.7 259.0
Notes payable and current portion of long-term debt... 5.0 6.5 2.6 2.6
Long-term debt........................................ 24.0 20.0 20.0 20.0
Stockholders' equity.................................. 103.0 114.1 120.0 179.4
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(1) As adjusted to give effect to the sale by the Company of 2,000,000 shares of
Common Stock offered hereby.
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