---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-070222"
form_type: "8-K"
ticker: "KLAC"
cik: "0000319201"
company_name: "KLA CORP"
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T16:06:44.577001+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# KLA exits FPD business, revises March Q guidance downward on $110M-$140M charges

## Summary
- Exiting flat panel display business by Dec 31, 2024 after major customer canceled project; FPD was 1.4% of 2023 revenue.
- Expects $60M-$70M non-cash inventory write-off and $50M-$70M goodwill/intangibles impairment for March quarter.
- Revises March Q GAAP gross margin to 55.6%-57.6% (from 58.4%-60.4%) and GAAP diluted EPS to $3.46-$4.66 (from $4.33-$5.53).
- Non-GAAP gross margin revised to 57.7%-59.7% (from 60.5%-62.5%) and non-GAAP diluted EPS to $4.23-$5.43 (from $4.66-$5.86).
- Revenue guidance for March Q reaffirmed at $2.3B ± $125M; longer-term profitability margins expected to improve immaterially.

## SEC filing metadata
- accession: 0001193125-24-070222
- form_type: 8-K
- ticker: KLAC
- cik: 0000319201
- company_name: KLA CORP
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319201/000119312524070222/0001193125-24-070222-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319201/000119312524070222/d810936d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-070222
- JSON: https://secwatch.observer/filing/0001193125-24-070222.json
- Plain text: https://secwatch.observer/filing/0001193125-24-070222.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.