secwatch.observer — SEC 8-K summary
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Issuer:     KLA CORP (KLAC)
CIK:        0000319201
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001193125-24-070222
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/319201/000119312524070222/0001193125-24-070222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/319201/000119312524070222/d810936d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-070222

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