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KLA-Tencor beats Street
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July 31, 2001: 4:48 p.m. ET
Chip testing companies beats 4Q earnings forecast, revenue down 4%
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NEW YORK (CNNfn) - Semiconductor testing company KLA-Tencor Corp. reported fourth-quarter revenue which fell 4 percent from the year-ago period, but beat analysts' earnings expectations.
KLA-Tencor reported net income of $56 million, or 29 cents per share, compared with $92 million, or 47 cents per share, in the year-ago period. Total revenue was $462 million.
Analysts surveyed by First Call on average expected the company to earn 26 cents per share on revenue of about $440 million.
The company said is has sufficiently reduced spending for current market conditions through a mixture of contract and temporary worker cuts, management salary reductions and facility consolidation.
KLA-Tencor President and CEO Ken Schroeder said in a statement the company "is strongly positioned to take advantage of what we expect to be an unprecedented demand for advanced yield management solutions when chip demand returns and these new technologies move from development to production."
The company added it has about six months of shipment backlog, and said bookings for the quarter were strongest in Japan and Europe.
The stock rose 69 cents to $55.08 in after-hours trading. 
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KLA Tencor
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