科磊 (KLAC) 2022 Q1 法說會逐字稿

Good afternoon. My name is Ashley, and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation September Quarter 2021 (sic) [2022] Earnings Conference Call and Webcast. (Operator Instructions)

午安.我叫阿什利，今天我將擔任您的會議主持人。現在，我歡迎大家參加 KLA 公司 2021 年 9 月季度 [原文如此] [2022] 收益電話會議和網路廣播。（操作員指示）

And I will now turn the call over to Kevin Kessel, Vice President of Investor Relations and Market Analytics. Please go ahead.

現在我將把電話轉給投資者關係和市場分析副總裁凱文凱塞爾 (Kevin Kessel)。請繼續。

Thank you, and welcome to KLA's Fiscal Q1 2022 Quarterly Earnings Call to discuss the results of the September quarter and the outlook for the December quarter. With me on today's call is Rick Wallace, our Chief Executive Officer; and Bren Higgins, our Chief Financial Officer. During this call, we will discuss quarterly results for the period ended September 30, 2021, released this afternoon after market close. You can find the press release, shareholder letter, slide deck and infographic on the KLA IR section of our website.

謝謝，歡迎參加 KLA 2022 財年第一季季度收益電話會議，討論 9 月季度的業績和 12 月季度的展望。和我一起參加今天電話會議的還有我們的執行長 Rick Wallace 和我們的財務長 Bren Higgins。在本次電話會議中，我們將討論今天下午收盤後發布的截至 2021 年 9 月 30 日的季度業績。您可以在我們網站的 KLA IR 部分找到新聞稿、股東信函、投影片和資訊圖表。

Today's discussion is presented on a non-GAAP financial basis, unless otherwise specified. And whenever we make references to a year, we are referring to calendar years. A detailed reconciliation of GAAP to non-GAAP results is in the earnings material posted on our website. Our IR website also contains future investor events as well as presentations, corporate governance information and links to our SEC filings, including our most recent annual and quarterly reports on Forms 10-K and 10-Q.

除非另有說明，今天的討論均以非 GAAP 財務基礎為基礎。每當我們提到年份時，我們指的是日曆年。我們網站上發布的收益資料中詳細列出了 GAAP 與非 GAAP 結果的對帳情況。我們的 IR 網站還包含未來投資者活動以及演示文稿、公司治理資訊和我們向 SEC 提交的文件鏈接，包括我們最新的 10-K 和 10-Q 表格年度和季度報告。

Our comments today are subject to risks and uncertainties reflected in the risk factor disclosure in our SEC filings. Any forward-looking statements, including those we make on the call today, are also subject to those risks, and KLA cannot guarantee those forward-looking statements will come true. Our actual results may differ significantly from those projected in our forward-looking statements.

我們今天的評論受到美國證券交易委員會 (SEC) 文件中風險因素揭露所反映的風險和不確定性的影響。任何前瞻性陳述，包括我們今天在電話會議上所做的陳述，也都受這些風險的影響，並且 KLA 不能保證這些前瞻性陳述會成真。我們的實際結果可能與前瞻性陳述中預測的結果有很大差異。

Let me now turn the call over to our Chief Executive Officer, Rick Wallace. Rick?

現在，我將把電話轉給我們的執行長 Rick Wallace。瑞克？

Hello, and thank you for joining us today. KLA September 2021 quarter continued our track record of consistent execution and commitment to outperformance. The company's focus on delivering on top and bottom line goals remained at the forefront of how we run our business.

您好，感謝您今天加入我們。KLA 2021 年 9 月季度延續了我們一貫執行和致力於卓越表現的良好記錄。公司專注於實現頂線和底線目標仍然是我們經營業務的重中之重。

During the quarter, revenue grew 8% sequentially and 35% year-over-year to $2.08 billion. Non-GAAP earnings per share was $4.64, representing 5% sequential growth and up 53% compared to the prior year. These results demonstrate growth momentum in our core markets and the operating leverage in the KLA financial model.

本季度，營收季增 8%，年增 35%，達到 20.8 億美元。非公認會計準則每股收益為 4.64 美元，季增 5%，比上年增長 53%。這些結果證明了我們核心市場的成長動能和 KLA 財務模型中的營運槓桿。

Customer demand across KLA's major product groups continues as secular trends drive growth across a broad range of markets and applications in the industry. This growth is putting pressure on the semiconductor industry supply across multiple technology nodes. In parallel, leading-edge customers are increasing their strategic CapEx investments to improve their ability to address market demanding new semiconductor capabilities. Against this intense demand backdrop, we are navigating evolving customer needs and supply chain challenges. Still, KLA continues to outperform expectations by operating with purpose and precision and keeping our focus on creating value for our customers, partners and shareholders.

隨著長期趨勢推動行業廣泛市場和應用的成長，客戶對 KLA 主要產品組的需求持續成長。這種成長給多個技術節點的半導體產業供應帶來了壓力。同時，領先的客戶正在增加其策略資本支出，以提高其滿足市場對新半導體功能需求的能力。在這種強烈的需求背景下，我們正在應對不斷變化的客戶需求和供應鏈挑戰。儘管如此，KLA 仍然憑藉有目的、精準的營運以及專注於為客戶、合作夥伴和股東創造價值，繼續超越預期。

Now turning to the industry demand environment. KLA remains in an excellent position when we look at the industry demand landscape. Strong secular growth drivers are creating important tailwinds that translate into momentum for our business. As a result, we are increasing our outlook for the wafer fab equipment, or WFE, industry. Last quarter, we estimated WFE growth would be in the mid-30s percent range. We now estimate that WFE will grow to approximately 40% in 2021. With sustained demand trends, we expect positive industry dynamics to continue into calendar 2022 and fuel another year of growth.

現在來談談產業需求環境。從產業需求格局來看，KLA 仍然處於有利地位。強勁的長期成長動力正在創造重要的順風，轉化為我們業務的發展動力。因此，我們提高了對晶圓廠設備（WFE）產業的展望。上個季度，我們估計 WFE 成長率將達到 35% 左右。我們現在估計，到 2021 年，WFE 將成長到約 40%。隨著需求趨勢的持續，我們預計積極的產業動態將持續到 2022 年，並推動另一年的成長。

Along with increased demand due to digitization across multiple categories, KLA's business is benefiting from customers increasing their focus on investment in leading-edge development, optimization of fab utilization or established production nodes and regionalization for future fab construction. To address this growth, we continue to invest high levels of R&D to ensure we're constantly improving and remaining indispensable for our customers.

隨著多個類別數位化帶來的需求增加，KLA 的業務也受益於客戶更加重視對前沿開發的投資、晶圓廠利用率或現有生產節點的最佳化以及未來晶圓廠建設的區域化。為了因應這一成長，我們繼續投入大量資金進行研發，以確保我們不斷改進並繼續成為客戶不可或缺的一部分。

For example, we are prioritizing investment in R&D for software that enhances the value customers extract from KLA systems. Data analytics, advanced simulation and machine learning technologies are driving adoption of process control. KLA's data analytics performed platforms connect, centralize and analyze the data produced by our systems in the field. This creates a network effect that enhances performance across the product portfolio and for customers.

例如，我們優先投資軟體研發，以提升客戶從 KLA 系統中提取的價值。數據分析、進階模擬和機器學習技術正在推動製程控制的採用。KLA 的數據分析執行平台連接、集中和分析我們的系統在現場產生的數據。這會產生網路效應，從而提高整個產品組合和客戶的效能。

KLA's breadth of products is uniquely positioned to speed time to results for our customers. We're making investments in these critical technologies as process control intensity increases. KLA's market leadership in the process control markets remain in impressive level -- at an impressive level of 4x the nearest competitor. Thanks to focus on execution and the industry demand backdrop, we remain on track to achieve our 2023 financial targets well ahead of expectations.

KLA 的廣泛產品具有獨特的優勢，可以加快我們客戶獲得成果的時間。隨著製程控制強度的增加，我們正在對這些關鍵技術進行投資。KLA 在製程控制市場的領導地位仍然令人印象深刻——比最接近的競爭對手高出 4 倍。由於注重執行和產業需求背景，我們仍有望提前實現 2023 年財務目標。

Let's now move along to the top highlights for the quarter. First, we continue to benefit from strength across all major end markets with overall company revenue expected to be up in the mid-30s on a percentage basis year-over-year based on the midpoint of our guidance for the December quarter. While we're not immune to the unprecedented supply chain challenges affecting the electronics industry, we are navigating them as well as can be expected.

現在讓我們來看看本季的亮點。首先，我們繼續受益於所有主要終端市場的強勁成長，根據我們對 12 月季度的預期中位數，預計公司整體營收將年增 30% 左右。雖然我們無法免受影響電子產業的前所未有的供應鏈挑戰的影響，但我們正在盡力應對這些挑戰。

In foundry/logic, simultaneous investments across multiple nodes and rising capital intensity continues to be a tailwind. In memory, demand remains broad-based across multiple customers with growth in 2021 led by DRAM and 2022 is setting up to be a relatively strong year for NAND. Second, our optical metrology business continues to stand out. KLA's metrology revenue is on track to grow meaningfully faster than the WFE market in 2021 after experiencing similar levels of absolute growth in 2020. The optical metrology market is strongly leveraged to EUV and its critical next-generation architectures, including gate all around and multi-stack 3D NAND. Third, KLA's leadership in the largest and fastest-growing segments of the process control market is fueling strong relative growth in our Semiconductor Process Control segment.

在代工/邏輯領域，跨多個節點的同時投資和不斷上升的資本強度繼續成為順風。在記憶體方面，多個客戶的需求仍然廣泛，2021 年的成長由 DRAM 引領，而 2022 年將成為 NAND 相對強勁的一年。第二，我們的光學計量業務持續表現突出。KLA 的計量收入在 2020 年經歷了類似的絕對成長水準後，預計在 2021 年比 WFE 市場成長更快。光學計量市場大力利用 EUV 及其關鍵的下一代架構，包括環繞閘極和多堆疊 3D NAND。第三，KLA 在製程控制市場中規模最大、成長最快的領域的領導地位，推動了我們半導體製程控制領域的強勁相對成長。

Optical pattern wafer inspection is forecasted to be among the fastest-growing segments of WFE in 2021 for product segments over $1 billion in revenue. KLA's cadence of innovation and new product introduction continues to outpace the competition. Just last month, we introduced our new Voyager 1035 laser scanning patterned wafer inspector, the latest in an extensive portfolio of in-line defect inspection tools for critical process monitoring application and advanced chip manufacturing. Coupled with the Gen 4 and Gen 5 broadband plasma portfolio, KLA's laser scanning systems help comprise the most comprehensive optical pattern wafer inspection portfolio in the marketplace today.

預計到 2021 年，對於收入超過 10 億美元的產品領域而言，光學圖案晶圓檢測將成為 WFE 成長最快的領域之一。KLA 的創新和新產品推出節奏繼續領先競爭對手。就在上個月，我們推出了新款 Voyager 1035 雷射掃描圖案晶圓檢測儀，這是用於關鍵製程監控應用和先進晶片製造的線上缺陷檢測工具系列中的最新產品。結合 Gen 4 和 Gen 5 寬頻等離子產品組合，KLA 的雷射掃描系統有助於構成當今市場上最全面的光學圖案晶圓檢測產品組合。

Fourth, our services revenue was $454 million in the September quarter, up 15% year-over-year. For the quarter, it was 22% of revenue. More than 75% of service revenue in the Semiconductor Process Control segment and over 90% of services in the PCB business comes from recurring subscription-like contracts. Services is on track for another year of strong double-digit growth in 2021. This is driven by our growing installed base, higher utilization rates and increasing expansion of service opportunities in the trailing edge.

第四，9月季度我們的服務收入為4.54億美元，年增15%。本季度，這一比例為22%。半導體製程控制部門超過 75% 的服務收入和 PCB 業務超過 90% 的服務收入來自定期訂閱式合約。2021年，服務業可望再次實現強勁的兩位數成長。這是由我們不斷增長的安裝基礎、更高的利用率以及後緣服務機會的不斷擴展所推動的。

Finally, the September quarter was exceptional from a free cash flow perspective. We generated record quarterly free cash flow of $795 million, which helped drive last 12-month free cash flow, up 42% year-over-year to $2.29 billion. We also have remained focused on returning capital to shareholders via our dividend and stock repurchase program, both of which are up materially year-over-year, including $563 million in share repurchases and dividends in the quarter.

最後，從自由現金流的角度來看，九月季度的表現非常出色。我們創造了創紀錄的 7.95 億美元季度自由現金流，這有助於推動過去 12 個月的自由現金流年增 42% 至 22.9 億美元。我們也一直致力於透過股利和股票回購計畫向股東返還資本，這兩項計畫同比均有大幅成長，其中本季股票回購和股利達 5.63 億美元。

In addition to executing against our strategic objectives and disciplined capital management, KLA delivers enduring value through corporate stewardship. KLA's values are reflected in efforts to reduce our environmental footprint, provide for a safe and healthy workplace for employees, advanced inclusion and diversity and make positive contributions to the communities where we live and work.

除了執行我們的策略目標和嚴格的資本管理之外，KLA 還透過企業管理提供持久的價值。KLA 的價值觀體現在努力減少對環境的影響、為員工提供安全健康的工作場所、促進包容性和多樣性以及為我們生活和工作的社區做出積極貢獻。

We published our latest Global Impact report in August 2021. It highlights how KLA delivers lasting values through corporate citizenship. Our journey on this path began when we opened our doors in 1976. We are now expanding our efforts to be more holistic across environmental, social and governance topics most relevant to our business.

我們在 2021 年 8 月發布了最新的全球影響力報告。它強調了 KLA 如何透過企業公民身份傳遞持久價值。我們在這條道路上的旅程始於 1976 年開業之時。我們現在正在擴大我們的努力，以更全面地處理與我們的業務最相關的環​​境、社會和治理主題。

We've also broadened our tracking and reporting to be inclusive of our full global footprint and acquired companies. We continue to build our long-term ESG strategy to focus on reducing climate impact, increasing disclosure and deepening the positive impact we deliver through our business and community engagement.

我們還擴大了追蹤和報告範圍，以涵蓋我們的全球業務和收購的公司。我們將繼續制定長期 ESG 策略，重點是減少氣候影響、增加資訊揭露並深化我們透過業務和社區參與產生的正面影響。

With that, I will pass the call over to Bren to cover our financial highlights, outlook and guidance.

說完這些，我將把電話轉給布倫，讓他介紹我們的財務亮點、展望和指導。

Thank you, Rick. KLA's quarterly results highlight the soundness and strength of our ongoing strategies. We continue to demonstrate our ability to meet customer needs in a robust demand environment while expanding market leadership, growing operating profits, generating strong free cash flow and maintaining our long-term strategy of productive capital allocation.

謝謝你，里克。KLA 的季度業績凸顯了我們正在實施的策略的合理性和實力。我們持續展現在強勁的需求環境中滿足客戶需求的能力，同時擴大市場領導地位，增加營業利潤，產生強勁的自由現金流，並維持生產性資本配置的長期策略。

Total quarterly revenue was $2.08 billion. Non-GAAP gross margin was 62.9% as the various components performed mostly as expected, with upside coming from the higher-than-expected Semiconductor Process Control systems revenue, which enhanced the product mix for the quarter. Non-GAAP diluted EPS was $4.64.

本季總營收為 20.8 億美元。非公認會計準則毛利率為 62.9%，因為各種組件的表現基本上符合預期，而上升空間則來自高於預期的半導體製程控制系統收入，這增強了本季的產品組合。非公認會計準則稀釋每股收益為 4.64 美元。

Our performance reflected the mark-to-market of an equity position in a strategic supplier that negatively impacted non-GAAP earnings per share by $0.06. Without this adjustment, which is reflected in other income and expense on the income statement, non-GAAP earnings would have been $4.70.

我們的業績反映了策略供應商股權的市價調整，這對非公認會計準則每股收益產生了 0.06 美元的負面影響。如果沒有這項調整（該調整反映在損益表的其他收入和支出中），非 GAAP 收益將為 4.70 美元。

GAAP diluted EPS was $6.96, due primarily to a onetime tax benefit of $395 million, resulting from changes made to our international structure to better align ownership of certain intellectual property rights with how our business operates. Non-GAAP operating expenses were $432 million and included $252 million of R&D expense and $180 million of SG&A.

GAAP 稀釋每股收益為 6.96 美元，主要由於一次性稅收優惠 3.95 億美元，該優惠源於我們對國際結構進行調整，以使某些知識產權的所有權與我們的業務運營方式更好地協調一致。非公認會計準則營運費用為 4.32 億美元，其中包括 2.52 億美元的研發費用和 1.8 億美元的銷售、一般及行政費用。

Technical applications is a competitive advantage for KLA and drives demand for our products by helping our customers develop solutions that address their complex process challenges. Technical applications is included in SG&A and was $47 million in the quarter. The combination of R&D and technical applications represented approximately 70% of total operating expenses.

技術應用是 KLA 的競爭優勢，透過幫助我們的客戶開發解決其複雜流程挑戰的解決方案，推動了對我們產品的需求。技術應用包含在銷售、一般及行政費用 (SG&A) 中，本季為 4,700 萬美元。研發和技術應用合計約佔總營運費用的 70%。

Given the rapid growth of the business over the last couple of years and our revenue expectations for the business going forward, we expect the company's operating expenses to continue to grow as we invest in global infrastructure, systems to scale the KLA operating model, new product development programs and volume-dependent resources to support our business expansion. Furthermore, we, as most companies are seeing a strong labor market driving cost pressure across our global workforce. As a result, we expect operating expenses to grow sequentially to approximately $470 million in the December quarter, and we forecast sequential growth in operating expenses to continue through calendar 2022.

鑑於過去幾年業務的快速成長以及我們對未來業務收入的預期，我們預計隨著我們投資全球基礎設施、擴展 KLA 營運模式的系統、新產品開發計劃和支援業務擴張的數量相關資源，公司的營運費用將繼續增長。此外，我們和大多數公司一樣，看到強勁的勞動市場對全球勞動力帶來成本壓力。因此，我們預計 12 月季度的營運費用將環比增長至約 4.7 億美元，並且我們預測營運費用的環比增長將持續到 2022 年。

While operating expenses are trending higher, going forward, we will make the necessary investments to scale our business, while we continue to size the company based on our target operating model, which delivers 40% to 50% incremental operating margin leverage on revenue growth over a normalized time horizon.

雖然營運費用呈上升趨勢，但展望未來，我們將進行必要的投資以擴大業務規模，同時我們將繼續根據目標營運模式調整公司規模，該模式在正常時間範圍內透過收入成長實現 40% 至 50% 的增量營運利潤率槓桿。

Non-GAAP operating income as a percentage of revenue was strong at 42.2% in the September quarter. Other income and expense net was $52 million compared with guidance of $43 million, with the variance from guidance reflecting the impact of the mark-to-market of the investment discussed earlier. For December, we forecast other income and expense net at approximately $44 million.

9 月季度非公認會計準則營業收入佔收入的百分比強勁，達到 42.2%。其他收入和支出淨額為 5,200 萬美元，而預期為 4,300 萬美元，與預期之間的差異反映了先前討論過的投資按市價計價的影響。我們預測 12 月份其他收入和支出淨額約為 4,400 萬美元。

The quarterly effective tax rate was 13.9%, just above our guided tax rate of 13.5%. Non-GAAP net income was $712 million. GAAP net income was $1.07 billion. Cash flow from operations was $864 million, and free cash flow was a record $795 million, resulting in a free cash flow conversion of 112%.

季度有效稅率為 13.9%，略高於我們的指導稅率 13.5%。非公認會計準則淨收入為 7.12 億美元。GAAP淨收入為10.7億美元。經營現金流為 8.64 億美元，自由現金流達到創紀錄的 7.95 億美元，自由現金流轉換率達 112%。

Turning to our reportable segment and end markets. Revenue for the Semiconductor Process Control segment, including its associated service business, was $1.78 billion, up 40% year-over-year and up 13% sequentially. The approximate Semiconductor Process Control system customer segment mix was tilted slightly more towards foundry logic than we forecasted at 61%, above our 59% estimate.

轉向我們可報告的細分市場和終端市場。包括相關服務業務在內的半導體製程管制部門的收入為 17.8 億美元，年增 40%，季增 13%。半導體製程控制系統客戶群的大致組合偏向代工邏輯，略高於我們預測的 61%，高於我們估計的 59%。

Memory was 39%, and within memory, the business was split roughly 61% DRAM and 39% NAND. Revenue for our EPC group continues to be driven by strength in 5G mobile and infrastructure as well as continued demand in automotive. More specifically, the specialty Semiconductor Process segment, which includes its associated service business, generated record revenue of $102 million, up 15% over the prior year and up 4% sequentially.

記憶體佔 39%，在記憶體領域，業務大約分為 61% 的 DRAM 和 39% 的 NAND。我們的 EPC 集團的收入持續受到 5G 行動和基礎設施的強勁成長以及汽車持續需求的推動。更具體地說，包括相關服務業務在內的專業半導體工藝部門創造了 1.02 億美元的創紀錄收入，比上年增長 15%，比上一季增長 4%。

PCB, display and component inspection revenue was $203 million, up 12% year-over-year but down 18% sequentially after a record quarter in the PCB and the component inspection businesses in June. For a breakdown of revenue by major products and regions, please see our shareholder letter or the earnings slides.

PCB、顯示器和組件檢測收入為 2.03 億美元，年增 12%，但繼 6 月份 PCB 和組件檢測業務創下季度紀錄後，環比下降 18%。有關主要產品和地區的收入明細，請參閱我們的股東信或收益幻燈片。

Moving forward to our balance sheet. We ended the quarter with $2.63 billion in cash, bonds outstanding of $3.45 billion with no maturities until 2024 and a flexible and attractive bond maturity profile supported by strong investment-grade ratings from all 3 agencies.

繼續我們的資產負債表。本季末，我們擁有 26.3 億美元現金，未償還債券為 34.5 億美元，到期日為 2024 年，債券期限靈活且具有吸引力，並得到了三家機構強勁的投資級評級的支持。

Over the last 12 months, KLA returned $1.73 billion to shareholders, including $581 million in dividends paid and $1.15 billion in share repurchases. While circumstances can change, current expectations are the capital returns for calendar 2021 will exceed 85% of expected free cash flow generated in the calendar year.

在過去的 12 個月中，KLA 向股東返還了 17.3 億美元，其中包括 5.81 億美元的股息和 11.5 億美元的股票回購。雖然情況可能會發生變化，但目前預計 2021 年的資本回報將超過該日曆年產生的預期自由現金流的 85%。

For the quarter, we generated a record $795 million in free cash flow and repurchased $400 million of common stock while also paying $163 million in dividends.

本季度，我們創造了創紀錄的 7.95 億美元自由現金流，回購了 4 億美元的普通股，同時支付了 1.63 億美元的股息。

Moving to our outlook and guidance. Our overall semiconductor demand and WFE outlook continues to increase from our views earlier in the year. At the start of this year, we characterize the expected growth of the WFE market to be in the low teens plus or minus a few percentage points. In April, we revised that view to the low to mid-20s on a percentage basis with a bias to the upside. In July, we revised our WFE outlook upward again to the mid-30s. Today, we see continued strengthening and expect the WFE market to grow approximately 40% to the mid-$80 billion range in 2021, growing from approximately $61 billion in calendar 2020. This reflects the broad-based strengthening in demand across all customer segments.

轉向我們的展望和指導。與今年早些時候的觀點相比，我們的整體半導體需求和 WFE 前景繼續上升。今年年初，我們預計 WFE 市場的成長率將處於低十幾個百分點左右。今年 4 月，我們將這項預測修正為 20% 左右，且偏向上行。7 月份，我們再次將 WFE 預期上調至 35% 左右。如今，我們看到 WFE 市場持續走強，預計到 2021 年，WFE 市場規模將成長約 40%，達到 800 億美元中段，而 2020 年約為 610 億美元。這反映出所有客戶群的需求普遍增強。

KLA is in a position to deliver strong relative growth this year with the semiconductor process control systems business now expected to grow in the mid-40s on a percentage basis over calendar year 2020. This growth profile is driven by our market leadership and strong momentum in the marketplace across multiple product platforms.

KLA 今年預計將實現強勁的相對成長，其半導體製程控制系統業務預計將在 2020 年的百分比基礎上成長 40% 左右。這一成長勢頭得益於我們的市場領導地位以及跨多個產品平台的市場強勁勢頭。

Looking ahead, we remain encouraged by the strength and sustainability of our current demand profile across all customer segments. For the total company, we expect that the first half of 2022 will grow in the high single digits versus the second half of 2021. It is abundantly clear today that demand is constrained by the industry's ability to supply. This pent-up demand should enable another year of solid growth in 2022.

展望未來，我們仍然對所有客戶群當前需求狀況的強勁和可持續性感到鼓舞。對於整個公司而言，我們預計 2022 年上半年將比 2021 年下半年實現高個位數成長。如今，需求明顯受到產業供應能力的限制。這種被壓抑的需求應該會推動2022年再次穩健成長。

While it's too early to put a fine point on our growth expectations for next calendar year, early indications point towards the WFE industry maintaining its growth momentum. Given our bookings momentum and strong backlog, we believe KLA is well positioned to outperform WFE. As in calendar 2021, we are adding capacity strategically across our global manufacturing footprint to drive this outlook and to enable us to support our customers' process control requirements.

雖然現在對明年的成長預期做出明確預測還為時過早，但早期跡象表明 WFE 產業將保持成長勢頭。鑑於我們的預訂勢頭和強勁的積壓訂單，我們相信 KLA 完全有能力超越 WFE。與 2021 年曆一樣，我們將在全球製造足跡中策略性地增加產能，以推動這一前景並使我們能夠支持客戶的過程控制要求。

Our December quarter guidance is as follows: total revenue is expected to be in the range of $2.325 billion, plus or minus $100 million; foundry logic is forecasted to be approximately 74%; and memory is expected to be approximately 26% of Semiconductor Process Control systems revenue to semiconductor customers. Within memory, DRAM is expected to be about 53% of the segment mix and NAND is forecasted to be 47%.

我們對 12 月季度的預期如下：預計總收入在 23.25 億美元左右，上下浮動 1 億美元；預計代工邏輯收入約為 74%；預計內存收入約佔半導體製程控制系統對半導體客戶收入的 26%。在記憶體領域，DRAM 預計佔 53%，而 NAND 預計將佔 47%。

We forecast non-GAAP gross margin to be in the range of 62% to 64%. At the midpoint, gross margin is roughly flat sequentially as revenue volume and product mix improvement is offset by higher expected service and manufacturing costs. Other model assumptions for December include non-GAAP operating expenses of approximately $470 million, other income and expense net of approximately $44 million and an effective tax rate of approximately 13.5%. Finally, GAAP diluted EPS is expected to be in the range of $4.69 to $5.59 and non-GAAP diluted EPS in a range of $4.95 to $5.85. The EPS guidance is based on a fully diluted share count of approximately 152 million shares.

我們預測非公認會計準則毛利率將在 62% 至 64% 之間。從中間點來看，毛利率與上一季基本持平，因為收入量和產品組合改善被預期的服務和製造成本上升所抵消。12 月的其他模型假設包括非公認會計準則營運費用約 4.7 億美元、其他收入和費用淨額約 4,400 萬美元以及有效稅率約 13.5%。最後，預計 GAAP 稀釋每股收益在 4.69 美元至 5.59 美元之間，非 GAAP 稀釋每股收益在 4.95 美元至 5.85 美元之間。EPS 指引是基於約 1.52 億股完全稀釋股數。

In conclusion, the tailwinds driving semiconductor growth and investments in WFE continue to remain compelling. Broad-based customer demand and simultaneous investments across multiple technology nodes are strong and resilient trends. We have confidence in the leading indicators of our business, including our backlog and sales funnel visibility, which is spurring us to invest in expanding our business infrastructure and the required capabilities to support our outlook. Our customers' multiyear investment plans provide an element of stability in the demand outlook for the future.

總而言之，推動半導體成長和 WFE 投資的順風因素仍然十分強勁。廣泛的客戶需求和跨多個技術節點的同時投資是強勁且有彈性的趨勢。我們對我們業務的領先指標充滿信心，包括我們的積壓訂單和銷售管道可見性，這促使我們投資擴大我們的業務基礎設施和支持我們前景所需的能力。我們客戶的多年投資計畫為未來的需求前景提供了穩定因素。

KLA continues to execute exceptionally well and is on track to exceed our 2023 financial targets well ahead of expectations. The KLA operating model positions us well to outperform our industry and guides our important strategic objectives. These objectives fuel our growth, operational excellence and differentiation across an increasingly diverse product and service offering. They are also the foundation of our sustained technology leadership, wide competitive moat, leading financial performance, long-standing track record of strong free cash flow generation and capital returns to shareholders.

KLA 繼續表現出色，並有望超越預期地實現 2023 年的財務目標。KLA 營運模式使我們能夠超越產業並指導我們的重要策略目標。這些目標推動了我們的成長、卓越營運以及日益多樣化的產品和服務的差異化。它們也是我們持續保持技術領先地位、廣泛的競爭優勢、領先的財務表現、長期強勁的自由現金流產生和股東資本回報的基礎。

With that, I'll turn the call back over to Kevin to begin the Q&A.

說完這些，我會把電話轉回給凱文，開始問答環節。

Thank you, Bren. Ashley, can you please queue up for questions?

謝謝你，布倫。阿什利，你能排隊回答問題嗎？

(Operator Instructions) We'll take our first question from John Pitzer with Credit Suisse.

（操作員指示）我們將回答瑞士信貸的約翰‧皮策提出的第一個問題。

Congratulations on the solid results and outlook. Rick, I'm wondering if you can talk a little bit about your optimism around the NAND market, whether it's the December guide specifically where it's moving up as a mix or in your prepared comments, you said that next calendar year is setting up for a strong year in NAND. To what extent is that just being driven by technology transitions that might be a little bit more insulated from the overall market conditions in the NAND market overall?

恭喜您所取得的堅實成果和前景。里克，我想知道您是否可以談談您對 NAND 市場的樂觀態度，無論是 12 月份的指南中具體指出的混合上漲，還是在您準備好的評論中，您說明年將是 NAND 強勁發展的一年。這在多大程度上僅僅是由技術轉型所推動的，而這些技術轉型可能與 NAND 市場的整體市場狀況更加隔絕？

John, yes, thanks. It is -- for us, it is more driven by technology transitions than overall capacity. As you know, mostly, that's what drives the early adoption of our leading technologies. And what we're seeing with NAND is, NAND is as the design rules or the complexity continues, we're seeing a larger adoption of process control. As you know, the design rules aren't as advanced in NAND as they are as DRAM, but they're getting more challenging. And so that's driving larger amount of inspection requirement but also quite a bit in metrology as well. So it's really both.

約翰，是的，謝謝。對我們來說，這更多的是由技術轉型而不是整體產能所驅動的。如您所知，這主要是推動我們早期採用領先技術的動力。而我們在 NAND 中看到的情況是，隨著設計規則或複雜性的不斷提高，我們看到了對製程控制的更廣泛採用。如您所知，NAND 的設計規則不如 DRAM 那麼先進，但它們正變得更具挑戰性。因此，這不僅推動了更大量的檢驗需求，也推動了計量領域的大量需求。所以其實兩者皆有。

John, it's Bren. I mean it is picking up off of pretty low levels, right? And I think overall, if you look at the growth of the year for the market, the NAND market grew considerably. It was growing but considerably slower than the overall market. So there's some optimism there in terms of we are seeing some tick up, although the percentage is, as I said, the absolute value is not a lot. And I think as we move into the first part of '22. I think we'll see a little bit more investment there.

約翰，我是布倫。我的意思是它正在從相當低的水平回升，對嗎？我認為總體而言，如果看一下今年的市場成長情況，就會發現 NAND 市場成長顯著。它正在成長，但比整體市場成長慢得多。因此，我們看到了一些樂觀的跡象，儘管正如我所說，百分比的絕對值並不多。我認為，隨著我們進入 22 年的第一季。我認為我們會在那裡看到更多的投資。

That's helpful. And then as my follow-up, Bren, just going back to your commentary around OpEx, it makes sense given the opportunity ahead of you that you guys are making the investments. I'm wondering if you can just put some guardrails on growing sequentially every quarter from that $470 million level. Where might the exit trajectory be next year? And I guess, is there any flexibility around a revenue environment that might become a little bit more volatile in the second half of the year?

這很有幫助。然後，作為我的後續問題，布倫，回到你關於營運支出的評論，考慮到擺在你們面前的機會，你們進行投資是有意義的。我想知道您是否可以對每個季度從 4.7 億美元的水平開始的連續增長設置一些限制。明年的退出軌跡會是怎樣？我想，下半年的收入環境是否可能變得更加不穩定，是否有任何彈性？

It's a great question, John. And we're in the middle of our strategic planning process right now and assessing not just our top line expectations but how to size the company relative to program demands, but also some of the volume dependencies that we've seen. We're also making significant investments in infrastructure.

這是一個很好的問題，約翰。目前，我們正處於策略規劃過程的中期，不僅評估我們的頂線預期，還評估如何根據專案需求確定公司規模，以及我們所看到的一些數量依賴關係。我們也在基礎設施方面進行了大量投資。

So as you got the world coming back from travel, you've got programs, you've got infrastructure investments. Those are all driving what we're seeing. We're certainly feeling pressure as most companies are, as we said in the prepared remarks, around compensation. So that's also a big part of it.

因此，當世界各地的人們回來旅行時，你就會有計劃，就會有基礎設施投資。這些都是我們所看到的結果。正如我們在準備好的發言中所說的那樣，我們和大多數公司一樣，在薪資方面感受到壓力。這也是其中很重要的一部分。

I'm not going to guide '22 because we're going through that process. But what I would say is that based on how we size the company, we're going to size -- we do expect growth in the company, and we'll size the company based on our incremental margin model, which is 40% to 50% incremental operating margin leverage on revenue growth. And so that will be a driver for us.

我不會指導‘22’，因為我們正在經歷這個過程。但我想說的是，根據我們對公司的規模的評估，我們確實預計公司會成長，並且我們將根據增量利潤模型來評估公司規模，即收入成長的增量營業利潤率槓桿為 40% 至 50%。這將成為我們的動力。

Certainly, some of this investment is a catch-up, if you will, in terms of the revenue growing so fast over the last couple of years, and it's been hard for us to catch up in terms of just being able to support the business in the way that we'd like. We're also encouraged by the growth opportunities over time, I'll call it the through cycle or normalized long-term growth, and we want to make sure the company is positioned right for that.

當然，如果你願意的話，這些投資的一部分是為了追趕，因為過去幾年收入成長如此之快，而我們很難以我們希望的方式支持業務。我們也對長期的成長機會感到鼓舞，我稱之為貫穿週期或正常化的長期成長，我們希望確保公司能夠為此做好正確的定位。

So I have more to say about how to size it. I would say that we're going to be consistent with our long-term model. We've been way ahead of the model over 50% over the last couple of years. I would expect us to be in the target range as we think about '22. Hopefully, that helps.

因此，關於如何確定其尺寸，我還有很多話要說。我想說的是，我們將堅持我們的長期模式。在過去的幾年裡，我們的業績已經遠遠領先模型 50% 以上。我希望我們在考慮 22 年時能夠達到目標範圍。希望這能有所幫助。

And we'll take our next question from C.J. Muse with Evercore.

我們將回答 Evercore 的 C.J. Muse 提出的下一個問題。

I guess a similar question on the gross margin side. As you think about your investments that you're making now, how should we think about the trajectory for gross margins into calendar '22? And I guess as part of that, would love to know mix-wise, what would enable you to hit the higher end or 64% in the December quarter as well?

我想在毛利率方面也有類似的問題。當您考慮現在進行的投資時，我們應該如何看待 22 年毛利率的趨勢？我想作為其中的一部分，我很想知道從組合角度來看，什麼能讓您達到更高的水平或 12 月季度的 64%？

Yes, C.J., one of the challenges, all the things I mentioned, that there is a COGS component to it. And I think one of the other challenges we're facing is pressure on cost in the in the supply chain. As I think about '22, I do see an impact from incremental costs, probably somewhere in the 75 to 100 basis point level. I do think that that's implied in the guidance that we provided. I'll have a firmer point on it as I think about '22 in the next call as we start to just lay out a more comprehensive plan around the year. But I do think we're operating in the 63% range, and I'll put a little bit wider range than I normally would today. It may be set plus or minus 75 basis points on that based on our early expectations for next year.

是的，C.J.，其中一個挑戰，也就是我提到的所有事情，都涉及 COGS 組件。我認為我們面臨的另一個挑戰是供應鏈成本壓力。當我思考 22 年時，我確實看到了增量成本的影響，可能在 75 到 100 個基點的水平之間。我確實認為這隱含在我們所提供的指導中。當我在下次電話會議中思考 22 年後，當我們開始製定全年更全面的計劃時，我會對此有更堅定的觀點。但我確實認為我們的營運範圍在 63% 左右，今天我會把這個範圍設定得比平常稍微寬一點。根據我們對明年的早期預期，該利率可能會在此基礎上上下浮動 75 個基點。

Absent those pressures, I think we'd be very consistent with the kind of trajectory we've seen. Certainly, the mix is more process control centric given expectations for next year right now. But I do think we'll continue to operate within our longer-term expectations of trying to drive somewhere between 60% and 65% incremental. But certainly, these cost pressures are real out there. And we're trying to navigate our way through it.

如果沒有這些壓力，我認為我們會非常一致地保持我們所看到的軌跡。當然，考慮到目前對明年的預期，這種組合更加以過程控制為中心。但我確實認為，我們將繼續按照我們的長期預期來運作，努力實現 60% 至 65% 之間的增量。但毫無疑問，這些成本壓力是真實存在的。我們正在努力尋找解決之道。

But I don't think it will change much from current levels in terms -- but I don't think it's going to go up much either. So I think it's -- we're going to be operating and hovering sort of in this area with mix affecting performance in any given quarter.

但我不認為它會與當前水平有太大變化——但我也不認為它會上升太多。所以我認為——我們將在這個領域開展業務並徘徊，混合業務將影響任何特定季度的業績。

That's very helpful. As a follow-up, on the revenue guide for first half calendar '22, that implies roughly, I think, $50 million higher each quarter. And so curious, is there any seasonal impact we should be thinking about Orbotech lower in the March quarter? And otherwise, should we be thinking about really process control being the key driver of that uplift?

這非常有幫助。作為後續，根據 2022 年上半年的收入指南，我認為這大約意味著每季增加 5,000 萬美元。很好奇，我們是否應該考慮季節性影響，以致奧寶科技在 3 月季度的業績下降？否則，我們是否應該認為製程控制才是推動這項提升的關鍵因素？

Yes, it's a good question. Right now, and again, things could change, but I don't see any seasonal impact into the first quarter. I think Process Control will be above, obviously, the high single-digit commentary. So I think we'll see process control systems higher than that in terms of the first half expectations.

是的，這是個好問題。現在，情況可能會發生變化，但我看不到第一季受到任何季節性影響。我認為過程控制顯然會高於高個位數的評論。因此我認為，就上半年的預期而言，我們將看到製程控制系統高於這個水準。

And we'll take our next question from Vivek Arya with Bank of America.

我們將回答美國銀行的 Vivek Arya 提出的下一個問題。

On the first one, the industry is about to start making this transition to 3-nanometer. And I was hoping you could contrast what that move means for Process Control intensity, right, the move from 5 to 3 versus the change you saw when the industry moved from 7 to 5? And can this transition from 5 to 3 change the competitive landscape in any way?

首先，該產業即將開始向 3 奈米過渡。我希望您能對比一下這一變化對過程控制強度意味著什麼，對吧，從 5 到 3 的變化與您看到行業從 7 到 5 的變化？那麼從 5 到 3 的轉變能否改變競爭格局呢？

Well, I think -- yes, I think the -- it's a more similar change, I think, as traditional ones because EUV has already been introduced. So what you're seeing is an increase. It's less of a revolutionary one in the sense that EUV is N5, and so you're going to see expansion of EUV layers as part of 3. So in that way, I think the mix phenomena will change towards some of the higher end tools.

嗯，我認為——是的，我認為——這是一個與傳統變化更相似的變化，因為 EUV 已經被引入。所以你看到的是成長。從 EUV 是 N5 的意義上來說，它並不是一個革命性的技術，所以你會看到 EUV 層的擴展是 3 的一部分。因此，我認為混合現象將朝著一些高端工具的方向轉變。

So for example, Gen 4 for us is significantly outselling Gen 5 in this calendar year because the bulk of the layers that could be done on a Gen 4 system. So as you move to 3, you're going to have more leverage towards a Gen 5 and -- now it turns out, we'll also be improving the capabilities on Gen 4. But I think you'll see it slightly shift.

例如，對我們來說，今年 Gen 4 的銷售量明顯超過 Gen 5，因為大部分層都可以在 Gen 4 系統上完成。因此，當您轉向 3 時，您將對 5 代有更多的槓桿作用 - 現在事實證明，我們還將改進 4 代的功能。但我認為你會看到它略有轉變。

Remember, customers are always looking at the most cost-effective inspection strategy that they can have. So you're going to see it there. It will show up in metrology as well because there'll just be more points that will have to be sampled and that will drive utilization and the throughput requirements on tools.

請記住，客戶總是在尋找最具成本效益的檢查策略。所以你會在那裡看到它。它也將出現在計量學中，因為需要採樣的點會更多，這將推動利用率和工具的吞吐量要求。

So Process Control intensity at the advanced nodes does get pushed harder, and we're definitely getting that feedback from our leading-edge customers the need for more capability and capacity to support that. So I think if anything, you're going to see a shift towards some of the higher ASP capability. At the same time, we're improving it.

因此，先進節點的製程控制強度確實會受到更大的推動，而且我們肯定會從我們的前沿客戶那裡得到這樣的回饋，即需要更多的能力和容量來支持這一點。因此我認為，如果有的話，你會看到向某些更高 ASP 能力的轉變。同時，我們正在改進它。

But in terms of a KLA market share perspective, we think it's actually positive for our market share. Because most of the time, when we have competitive situations, we tend to be in price competition at the lower end of most of the competition, and this will push things towards higher end which are the tools that we're really well positioned in and that will allow us to continue to our march towards higher market share over time.

但從 KLA 市場份額的角度來看，我們認為這實際上對我們的市場份額有積極作用。因為大多數時候，當我們面臨競爭時，我們傾向於在大多數競爭對手的低端進行價格競爭，這將推動產品向高端發展，這是我們真正處於有利地位的工具，這將使我們能夠隨著時間的推移繼續向更高的市場份額邁進。

Vivek, I could also say that in N5, you're going to have a lot of -- a high number of design starts. So you're going to see customers adding capacity in N5, which means it's much harder for them to try to migrate any of that capacity to N3. So they're going to be investing in N3, but also adding capacity in N5. So the technical drivers make that harder already based on a lot of the things that Rick just talked about, but also the design start activity, will also be a factor in that. So there's a lot of new capacity that comes in to support that node.

Vivek，我還可以說，在 N5 中，你將會有很多——大量的設計開始。因此，您會看到客戶在 N5 中增加容量，這意味著他們很難將任何容量遷移到 N3。因此，他們將投資 N3，同時也增加 N5 的容量。因此，根據 Rick 剛才談到的許多事情，技術驅動因素已經使這一目標變得更加困難，而設計啟動活動也將是其中的一個因素。因此，有大量新容量可用於支援該節點。

Very helpful. And then for my follow-up, at the risk of pushing you a little more on the calendar '22 because you were so nice to give us what you're seeing in the first half. Usually, the second half of the year -- calendar year tends to be better than the first half. So to the extent that you have visibility, right, today based on bookings and whatnot, is there any factor that could prevent that from happening next year?

非常有幫助。然後，對於我的後續問題，我冒著在 22 年曆上給您多推一點的風險，因為您非常好心地向我們提供了您在上半年看到的情況。通常，下半年——日曆年往往比上半年更好。那麼，就您今天根據預訂量等情況所掌握的可見度而言，是否存在任何因素可能會阻止明年發生這種情況？

Look, I'm not going to guide the second half, it's pretty far out. Yes, we have seen that phenomenon over the last couple of years play out. I would say in part of why we felt comfortable with the first half guidance is that we do have very high levels of backlog. And given the fact that the WFE number this year is clearly a supply number and not a demand number, there's certainly evidence of visibility through our customers and how they're lining up tools into the first half of the year. So we feel pretty comfortable about what we see there, hence, the guidance we provided and are driving the business and in particular, the capacity we have to be able to support long-term growth in the industry. So I'm not going to give you the second half, but I don't see any reason why things would fall off given the nature of what we're seeing and the demand and conversations we have from customers.

聽著，我不會指導下半場，這還很遙遠。是的，我們在過去幾年已經看到這種現象的發生。我想說，我們對上半年業績指引感到滿意的部分原因是我們的積壓訂單量確實很高。鑑於今年的 WFE 數字顯然是供應數字而不是需求數字，因此肯定有證據表明我們的客戶能夠看到這一點，以及他們如何在上半年安排工具。因此，我們對所看到的情況感到非常滿意，因此，我們提供了指導並推動了業務發展，特別是我們能夠支持行業長期成長的能力。所以我不會告訴你後半部分，但考慮到我們所看到的情況以及客戶的需求和對話，我認為事情沒有理由會下滑。

And we'll take our next question from Krish Sankar with Cowen and Company.

我們將回答 Cowen and Company 的 Krish Sankar 提出的下一個問題。

I had 2 of them. First one, Ric or Bren, it looks like your China sales have been really strong. And when I look at the industry, it looks like both you and your peers are all getting demand from a long tail of smaller customers, many of them are focused on things like IoT. So I'm kind of curious what is the split between MNC and domestic? And how durable do you think the China business from these smaller customers who seem to have cropped up recently and maybe don't have the scale, how durable do you think it is? And then I have a follow-up.

我有 2 個。首先，Ric 或 Bren，看起來你們在中國的銷售情況非常強勁。當我觀察這個行業時，我發現您和您的同行都從大量小客戶那裡獲得了需求，其中許多客戶都專注於物聯網等領域。所以我有點好奇跨國公司和國內公司的差別是什麼？您認為這些最近才出現、可能沒有規模的較小客戶的中國業務能持續多久？您認為這種業務能持續多久？然後我有一個後續問題。

Well, just in terms of overall percentages, I would say our Semi Process Control is pretty consistent with the overall this quarter for the company. Sometimes EPC tends to be heavier weighted to China and does pull the overall company up a little bit. But this quarter, it's pretty close. It does tend to be lumpier. So I think overall, if you look at the business, we probably expect overall China to be somewhere around in the low 20s as a percent for calendar year '21. Above that, I would say, 15% or so, maybe 20% is multinational. So 80% of that would be native.

嗯，就總體百分比而言，我想說我們的半過程控制與公司本季的整體情況非常一致。有時 EPC 業務對中國的依賴程度更大，並且確實會對整個公司產生一定程度的拉動動作用。但本季度，情況已經相當接近。它確實趨向於更加粗糙。因此，我認為總體而言，如果你看一下業務，我們可能會預期21日曆年中國的整體成長率將在20%左右。除此之外，我想說，15%左右，也許20%是跨國公司。所以其中 80% 是本地人。

And the second part of that, when it comes to sustainability, these are, to your point, they're smaller scale, but they're also lagging in terms of when people would think about leading-edge technologies. They're not leading edge, they're supporting domestic demand. And if you think about the EV industry, for example, the car, there's quite a bit of activity in China around that. So they're trying to have more control over their own supply chain for those trailing edge parts. So it's actually quite sustainable when you look at the amount of demand there is for specialty semiconductors in the China market. So I think that that's something that you'll continue to see, and it's a long way away from some of the concerns people have about leading edge in China.

第二部分，當涉及可持續性時，正如您所說，它們的規模較小，而且在人們考慮尖端技術方面也落後了。他們並不是處於領先地位，他們只是在支持國內需求。如果你考慮電動車產業，例如汽車，你會發現中國在這方面有相當多的活動。因此，他們正試圖更好地控制這些後端部件的供應鏈。因此，當你看到中國市場對特種半導體的需求量時，它實際上是相當可持續的。所以我認為你會繼續看到這種情況，而且這與人們對中國領先地位的一些擔憂還相去甚遠。

I guess the final point on that also is that when you think about our business, we do have exposure to wafer into mask. And so if you look at what's going on in terms of domestic capacity for infrastructure to support the semiconductor business, we do have some exposure to that overall.

我想最後一點是，當你考慮我們的業務時，我們確實接觸過晶圓到掩模業務。因此，如果你看一下國內支援半導體業務的基礎設施能力的情況，我們總體上確實對此有一定的影響。

Got it. Super helpful, Rick and Bren. And then a quick follow-up. Just wanted to see what is the status on the e-beam tools? I remember last quarter, it was about 15 or so tools in the field. Can you give us a status update on that? And where do you think your market share is today on e-beams?

知道了。非常有幫助，Rick 和 Bren。然後進行快速跟進。只是想看看電子束工具的狀態如何？我記得上個季度，該領域大約有 15 種工具。能向我們通報一下最新情況嗎？您認為目前貴公司在電子束領域的市佔率是多少？

Well, I don't know if things have changed all that much. I mean, certainly, we're confident in the product road map that we have for e-beam. And I think it's complementary with our optical tools. Now when we say e-beam, it's a broad term. It covers not just metrology but also inspection and review. So there's a lot of efforts that are happening across the company, including in reticle inspection.

嗯，我不知道事情是否發生了很大的變化。我的意思是，我們當然對我們的電子束產品路線圖充滿信心。我認為它與我們的光學工具相輔相成。現在，當我們說電子束時，它是一個廣義的術語。它不僅涵蓋計量，還涵蓋檢查和審查。因此，整個公司正在進行大量努力，包括光罩檢查。

But we -- our strategy around EBI, which is I think you're referring to, inspection, is really to try to leverage and use the EBI technology and the machine learning that we have to drive the inspectors and add more value or more relevancy to the inspection tools. So it's more of a portfolio strategy than a point product strategy. And I think it's going pretty consistent with our overall expectations today.

但是我們 - 我們圍繞 EBI 的策略，我想您指的是檢查，實際上是嘗試利用和使用 EBI 技術和機器學習來驅動檢查員並為檢查工具增加更多價值或更多相關性。因此，它更多的是一種投資組合策略，而不是點產品策略。我認為這與我們今天的整體預期非常一致。

Yes. I would just add to that. I think the team has done an outstanding job of developing this capability and delivering it. We're getting very positive feedback from our customers. They really like the idea of some of the capabilities. They also like the leverage that we have between some of the algorithms we've developed in our other systems that they're familiar with being able to apply those to e-beam and also as Bren said the interoperability.

是的。我只想補充一點。我認為團隊在開發和實現這項能力方面做得非常出色。我們得到了來自客戶的非常正面的回饋。他們確實喜歡其中的一些功能。他們也喜歡我們在其他系統中開發的某些演算法之間的優勢，他們熟悉這些演算法，能夠將這些演算法應用於電子束，而且正如 Bren 所說的那樣，還具有互通性。

So where we are anticipated and planned from a revenue standpoint on these, there are really multiple applications, which we're serving with e-beam. So we feel very good. But just as an overall cautionary reminder, e-beam as a percent of optical wafer inspection continues to be right about where it's been for the last 20 years, and we know that. We're providing this capability because there are some special applications where customers need it. And there are actually some expansion opportunities in things like some of the increased demands of overlay that require more people are looking at for e-beam in order to control the very advanced design rules.

因此，從收入角度來看，我們預計併計劃使用電子束為多種應用提供服務。所以我們感覺非常好。但需要整體提醒的是，電子束在光學晶圓檢測中所佔的百分比在過去 20 年一直保持穩定，這一點我們深知。我們提供此功能是因為客戶在某些特殊應用中需要它。實際上，在某些方面存在一些擴展機會，例如對覆蓋的需求增加，需要更多的人關注電子束，以控制非常先進的設計規則。

So it's meeting what we plan. We're happy with our execution and the market share is climbing, but it's a long haul to gain share in many of these markets, and we know that.

所以這符合我們的計劃。我們對我們的執行情況感到滿意，市場份額也在攀升，但我們知道，在許多這樣的市場中獲得份額需要很長的時間。

We'll take our next question from Joe Moore with Morgan Stanley.

我們將回答摩根士丹利的喬摩爾提出的下一個問題。

I wonder if you could just talk about the mix this year in foundry logic seems to have shifted more to the legacy nodes a little bit or at least those are stronger than they've been. Can you talk about maybe where that mix is? I think you've given that sort of qualitative color on that in the past. And what does that do for KLA? Does that sort of a headwind for you relative to WFE? Or -- and if that rolls off, could it help you the other direction?

我想知道您是否可以談談今年代工邏輯的組合似乎已經更多地轉向傳統節點，或者至少這些節點比以前更強大了。你能說說這種混合物在哪裡嗎？我認為您過去曾對此給予這種定性評價。這對 KLA 有什麼作用？相對於 WFE 來說，這對您來說是一種阻力嗎？或者──如果這樣的話，它能從另一個方向幫助你嗎？

Yes. No, it's interesting this year. I think last year it was a little bit more heavy in trailing edge. In '21, it's been very leading edge-centric for our business. And I think '22 probably expands a little bit more in terms of the trailing edge. So it's about 20% to 25% of our foundry revenue, I'd classify as below 28-nanometer. And so I'd call that leading edge. And so 28 and above is about 25% or so. So 75% is below 28. And I think as we go into next year, I think we'll see a little bit more of the trailing edge activities.

是的。不，今年很有趣。我認為去年它的後緣稍微重了一點。在 21 世紀，我們的業務一直以尖端技術為中心。我認為 22 年的後緣可能會進一步擴大。因此，我將其歸類為 28 奈米以下，占我們代工收入的 20% 到 25%。所以我稱之為前沿。因此 28 以上約為 25% 左右。因此 75% 低於 28。我認為，隨著進入明年，我們將會看到更多的後緣活動。

One of the things that it's done for us, I mean, versus, I think, if you go back long enough, we have a Gen 5 and Gen 4 we talked about in detail. We also have different variants of BBP, which are even more suitable to some of the lower end. And those customers often are familiar with the higher-end tools, and they want some of that capability. So we're seeing that these products actually run a little bit longer than they ever had.

它為我們做的事情之一，我的意思是，相比之下，我認為，如果你回顧足夠長的時間，我們會詳細討論第 5 代和第 4 代。我們還有不同版本的 BBP，它們甚至更適合一些低階產品。這些客戶通常熟悉高端工具，並且他們希望獲得其中的一些功能。因此，我們發現這些產品的使用壽命實際上比以前更長一些。

And so we have another product we call the C205, which is targeted for the auto industry, and we're able to sell that, and we're seeing that it really leverages a lot of the R&D that we've done for years.

因此，我們還有另一款產品，稱為 C205，專門針對汽車行業，我們能夠銷售該產品，而且我們發現它確實充分利用了我們多年來所做的大量研發成果。

So the platform, even -- we talked about a portfolio of products, but the truth is we have a portfolio of BBP products. And it is not just across the different technologies, it's one technology across the different generations. And we're really leveraging that. So what's really surprising when we look at it is that Gen 5, while it's doing quite well, it's actually one of the smaller -- relative to the Gen 4, it's significantly smaller in dollar volume this year, and that will grow over time, which makes us feel really good about the sustainability and the overall potential for us to continue to be able to invest and provide capability for our customers across all nodes. So it's pretty exciting to see.

因此，即使平台——我們談論的是產品組合，但事實是我們有 BBP 產品組合。它不只是跨越不同的技術，而是跨越不同世代的技術。我們確實正在利用這一點。因此，當我們觀察第五代產品時，真正令人驚訝的是，儘管它表現得相當不錯，但實際上它是規模較小的產品之一——相對於第四代產品，它今年的美元交易量明顯較小，而且會隨著時間的推移而增長，這讓我們對可持續性和整體潛力感到非常滿意，我們能夠繼續投資並為所有節點的客戶提供能力。看到這一幕真是令人興奮。

And we'll take our next question from Joe Quatrochi with Wells Fargo.

我們將回答富國銀行的喬·夸特羅奇 (Joe Quatrochi) 提出的下一個問題。

You talked about the increase in your manufacturing capacity, but how do we think about the ability of your supplier partners capacity to grow in order to support your growth, given some of your components, I know are several months for lead times?

您談到了製造能力的提高，但我們如何看待您的供應商合作夥伴的產能成長能力，以支持您的成長，考慮到您的一些組件，我知道交貨時間需要幾個月？

Yes. It's a great question, Joe. When I say capacity, I mean people, parts and space. So I am covering all of those things. Certainly, supply chain tends to be the longest pole in the tent, if you will, in terms of our ability to add capability. We've been doing that for a long period of time and go back to the middle of -- for the end of 2020.

是的。這是一個很好的問題，喬。當我說容量時，我指的是人員、零件和空間。所以我正在報道所有這些事情。當然，就我們增加產能的能力而言，供應鏈往往是帳篷裡最長的桿子。我們已經這樣做了很長一段時間，並回到了 2020 年中期——年底。

So we have around the key components and subsystems, where there are long lead times. We have very strong partnerships with those suppliers. And we've been working with them. We've been investing where appropriate to ensure that they're able to increase their capacity. So that capacity comes online over time. Our volumes are lower around a lot of those parts. And so getting single-digit upticks sequentially quarter-to-quarter in terms of units can have a pretty big impact on the company's overall revenue.

因此，我們圍繞著關鍵組件和子系統，有很長的交付週期。我們與這些供應商建立了非常牢固的合作關係。我們一直在與他們合作。我們一直在適當的地方進行投資，以確保他們能夠提高產能。因此，這種容量會隨著時間的推移而逐漸增加。我們在這些地方的銷售量都比較低。因此，就銷售量而言，每季連續取得個位數的成長會對公司的整體收入產生相當大的影響。

So we continue to make those investments and work with those suppliers. Obviously, you never know what the future is, but we do have this belief that with semiconductor revenue growing the way it is, capital intensity rising, that this will be a demand for the company going forward. And so whether it's near term or longer term, I'm willing to make the investments to ensure that we can be as flexible and responsive to customers as we need to be.

因此，我們將繼續進行這些投資並與這些供應商合作。顯然，你永遠不知道未來會怎樣，但我們確實相信，隨著半導體收入的成長和資本密集度的提高，這將成為公司未來的需求。因此，無論是短期還是長期，我都願意進行投資，以確保我們能夠根據需要靈活地回應客戶的需求。

We're also carrying more inventory, and that provides a little bit of extra buffer as well around some of these components. Because our volumes are where they're at, some of the more fungible or more commodity-like parts that are out there. Our challenges are probably a little less than some of the other folks out there just because I don't need as many of them. I need them, but I don't need as many of them just because of the level of volume we have. So I think it's across all those things.

我們還持有更多的庫存，這也為其中一些組件提供了一些額外的緩衝。因為我們的產量就在那裡，有一些更可替代或更像商品的零件。我們面臨的挑戰可能比其他一些人少一些，因為我不需要面臨那麼多挑戰。我需要它們，但是由於我們的數量有限，我不需要那麼多。所以我認為它涵蓋了所有這些事情。

And we feel pretty good that, look, ultimately, our customers would like things sooner if we could deliver to them, but we are managing our way through it, and I feel pretty good about the guidance that we provided here today.

我們感覺非常好，看，最終，如果我們能夠將貨物交付給客戶，他們希望更快地收到貨物，但我們正在設法解決這個問題，我對我們今天在這裡提供的指導感到非常滿意。

Yes. And let me just add one perspective where I think actually it differentiates KLA in a positive light relative to our peers in the industry. Because we've always been high mix, low volume, and we have several strategic relationships with key suppliers, as Bren, we've actually always been working the supply chain and making sure we invested in our suppliers so that we had capability because in many cases, where we've been for years inextricably linked to them.

是的。讓我補充一個觀點，我認為它實際上使 KLA 與業內同行相比具有積極的區別。因為我們一直是多品種、小批量的，並且我們與多個關鍵供應商建立了戰略關係，所以作為 Bren，我們實際上一直在努力打造供應鏈並確保我們對供應商進行投資，這樣我們才有能力，因為在許多情況下，我們多年來一直與他們有著密不可分的聯繫。

So when this thing hit, I think we were able to navigate it better, because to Bren's point, we don't need as many. We don't need the biggest volume. And with the critical ones we've had historically strong relationships which we maintained through the different cycles. So that's why I think, again, it's another example of KLA being less volatile in a dynamic market. So that is part of it. It comes with a lot of work, a lot of hard work with our supply chain. But I think we have the trust and relationships with them that when we make commitments, we could follow through on them.

因此，當這件事發生時，我認為我們能夠更好地應對，因為正如布倫所說，我們不需要那麼多。我們不需要最大的音量。我們與關鍵客戶一直保持著密切的關係，並在不同的週期中保持良好的關係。所以我認為這是 KLA 在動態市場中波動性較小的另一個例子。這就是其中的一部分。這需要我們為供應鏈付出大量的工作和艱苦的努力。但我認為，我們與他們之間有信任和關係，當我們做出承諾時，我們能夠兌現。

So it has taken work to do, but I think that's part of why we've been able to scale and we went through the whole period. We didn't stop guiding. We hit our numbers. We haven't missed our performance expectations. And I think largely, it's because of those things.

所以這需要做一些工作，但我認為這也是我們能夠擴大規模並度過整個時期的部分原因。我們沒有停止引導。我們達到了目標。我們沒有辜負我們的業績預期。我認為很大程度是因為這些原因。

Got it. That's really helpful. And then just as a follow-up, in the prepared remarks, you talked about increasing expansion of service opportunities in the trailing edge. I was curious if you could double-click on that. And maybe also how do we think about that from a margin profile, just given it seems like maybe some of those opportunities are maybe a little bit more hands on?

知道了。這真的很有幫助。然後作為後續問題，在準備好的發言中，您談到了增加後緣服務機會的擴展。我很好奇你是否可以雙擊它。也許我們還應該如何從利潤率的角度來考慮這個問題，因為看起來其中一些機會可能更需要實際操作？

Well, I'll take the first part, and Bren can speak to the margin opportunity. I think that, as you well know, a lot of these fabs are running a lot longer than historically, some of them have relied on some version of third party or their own service. As those factories have been upgraded with more recent KLA technology, it's really been falling on us to support that. So I give you the example of the C205 product line. That's not something that they're going to be able to readily get a third party to service or do it themselves or just wait. So we're engaging when we sell some of the newer capability into these more, I guess, traditional or trailing edge fabs, we provide more services and capability, and that's been part of the value proposition.

好吧，我來談談第一部分，然後布倫可以談談利潤機會。我認為，正如您所知，許多晶圓廠的運行時間比歷史上要長得多，其中一些晶圓廠依賴某些版本的第三方或他們自己的服務。隨著這些工廠已經升級為最新的 KLA 技術，我們確實有責任支援它們。我給你舉 C205 產品線的例子。他們無法輕易地讓第三方來提供服務，或是自己動手，或只是等待。因此，當我們將一些較新的能力出售給這些更傳統或更先進的晶圓廠時，我們會提供更多的服務和能力，而這正是價值主張的一部分。

The other factor, of course, that is helpful is they're all quite profitable enterprises for our customers, so they're willing to make that investment to secure their capabilities.

當然，另一個有幫助的因素是，它們對我們的客戶來說都是非常有利可圖的企業，所以他們願意進行投資以確保他們的能力。

I don't think the margins are any different than other parts of the service business that we have. And look, we serve to an entitlement. We serve to what our customers purchase a certain service level, and we optimize the organization to be able to support that. Certainly, the utilization rates are higher, and so that's creating a revenue stream also the demand on that capacity in terms of not just incremental volume but also demands in terms of reliability is also increasing. And so that's creating opportunities for us to sell more capability, but also to introduce some of our newer products that have road maps and have the ability to have an upgrade stream to it.

我認為利潤率與我們服務業務的其他部分沒有什麼不同。瞧，我們履行了應盡的義務。我們根據客戶購買的特定服務等級提供相應的服務，並優化組織以支援該服務。當然，利用率更高，因此這也創造了收入來源，對產能的需求不僅在增量方面，而且在可靠性方面的需求也在增加。這不僅為我們創造了銷售更多功能的機會，也為我們推出了一些具有路線圖並且能夠升級的新產品。

And we'll take our next question from Timothy Arcuri with UBS.

我們將回答瑞銀的提摩西‧阿庫裡提出的下一個問題。

I guess, Bren, you gave guidance first half versus the second half of this year for the whole company. But it seems like Process Control Systems could be up like low teens first half of next year versus the second half of this year. Is that a reasonable number?

我想，布倫，你對整個公司今年上半年和下半年的業績做出了預測。但看起來，與今年下半年相比，製程管制系統明年上半年可能會出現十幾倍的成長。這個數字合理嗎？

So I said high single digits, and I would think that Process Control systems based on what we seek to do today, will be higher than the company average.

所以我說的是高個位數，我認為基於我們今天所追求的製程控制系統將高於公司的平均值。

Higher than the company average. Okay. Got it.

高於公司平均。好的。知道了。

Yes. So if it's 8-ish percent, I expect it to be higher. High single digits, right, 8%, 9% or whatever that is. So...

是的。因此，如果這個數字是 8% 左右，我預計它會更高。高個位數，對，8%、9% 或任何其他數字。所以...

Yes. Okay. Got it. And then on EPC, so I know that the long-term outlook is for EPC to grow double digits, but you're growing more than 20% this year, and that's kind of even before the big packaging stuff from the big guy who has this huge project has even really hit your orders yet. So can you just talk about the timing of that? And do you think that you can grow double digit next year even off this elevated level? And maybe when do you expect that big project to start to positively impact your EPC business?

是的。好的。知道了。然後是 EPC，我知道 EPC 的長期前景是實現兩位數增長，但今年的增長率將超過 20%，而且這還是在負責這個大型項目的大佬的大型包裝產品真正達到你的訂單之前。那麼你能談談這件事發生的時間嗎？您認為明年即使在這個較高水準上也能實現兩位數的成長嗎？您預計該大項目何時會開始對您的 EPC 業務產生正面影響？

We would expect growth next year in EPC. I'm not going to get into specific sizing overall, but we are encouraged by what we're seeing here for next year. And I don't want to get into specific timing for customers. We're pretty optimistic about the opportunities that exist there and some of the product offerings that we have. So we'll have to see it play through, but I am encouraged to think it's another year of growth. I think EPC will have solid growth into next year.

我們預計明年 EPC 將會成長。我不會深入討論整體的具體規模，但我們對明年的前景感到鼓舞。我不想為客戶透露具體的時間。我們對那裡存在的機會以及我們提供的一些產品非常樂觀。所以我們必須觀察它的進展，但我很高興地認為這是另一個成長的一年。我認為 EPC 明年將穩健成長。

So yes, Tim, just to give a little more color on that. I do think if you thought about these big programs, they're pretty early stages. So I think by the time that it will result in significant accelerant to that growth were in 2023. So it's not really -- 2022, I think, rises with some of the industry and programs and partnerships that we already have, '23 is a result of some of the newer things that are being worked on now. And I've mentioned before and we've talked, we are very excited about what we're hearing and seeing in terms of both the opportunity and the desire for these bigger players to engage with KLA. So -- but that's not as much a '22 as it is a '23 phenomenon.

是的，提姆，我只是想對此多加說明一下。我確實認為，如果你考慮這些大型項目，它們還處於相當早期的階段。因此我認為到 2023 年它將顯著促進這一增長。所以，我認為，2022 年並不是隨著我們已有的一些產業、計畫和合作關係而崛起，而 2023 年則是目前正在進行的一些新事物的結果。我之前提到過，我們也討論過，我們對所聽到和看到的這些大公司與 KLA 合作的機會和願望感到非常興奮。所以 —— 但這與其說是 22 年的現象，不如說是 23 年的現象。

And we'll take our next question from Patrick Ho with Stifel.

我們將回答 Stifel 的 Patrick Ho 提出的下一個問題。

Congrats on a nice quarter. Rick, maybe first off, on a big picture basis, you're seeing a lot of changes in the DRAM industry right now from a process technology standpoint as you go to 1z and 1a. From a process control intensity standpoint, it's likely to increase. What are the biggest process challenges that you're helping customers address? Is it in new materials? Is it the deeper VS? And maybe if you could give a little color of the applications that are driving increasing intensity in DRAM.

恭喜本季取得良好業績。里克，首先，從總體來看，從工藝技術的角度來看，隨著 1z 和 1a 的出現，你現在會看到 DRAM 行業發生很多變化。從過程控制強度的角度來看，它可能會增加。您幫助客戶解決的最大流程挑戰是什麼？它是新材料嗎？是更深層的VS嗎？也許您可以稍微介紹一下推動 DRAM 強度不斷提高的應用程式。

I think the biggest thing for what we're seeing in DRAM, and this was a question, I think, for quite a while, was EUV going to be simply for advanced logic devices, advanced foundry. And now we're seeing it, as you know, starting to happen in EUV. And everything that comes with that, all the infrastructure that goes with that, all the work that's going to go on to make sure that you can qualify the reticles, even though they have redundancy, there's a huge fear of throwing away. This is a very expensive infrastructure. So there's a lot of work going on already with Gen 5 to make sure that we can help qualify.

我認為我們在 DRAM 中看到的最大問題是，EUV 是否僅僅用於先進的邏輯設備和先進的代工。正如您所知，現在我們看到它開始在 EUV 中發生。隨之而來的一切，所有相關的基礎設施，所有為確保光罩合格而進行的工作，儘管它們有冗餘，但人們仍然非常擔心被丟棄。這是一個非常昂貴的基礎設施。因此，我們已經在 Gen 5 方面開展了大量工作，以確保我們能夠幫助獲得資格。

And of course, you mentioned the high aspect ratio devices, you're going to see more -- I think, they've been in a honeymoon period for actually several years, I would say that some of the DRAMs historically, and you didn't see the Process Control intensity grow. This is a real chance for it to increase as a result of the new capabilities that are bringing -- just EUV, what that brings on. You also have a lot of metrology applications as well.

當然，您提到了高縱橫比設備，您會看到更多 - 我認為，它們實際上已經處於蜜月期好幾年了，我想說的是，從歷史上看，一些 DRAM 並沒有看到過程控制強度的增長。這是一個真正的機會，因為它可以透過 EUV 帶來的新功能來實現成長。您也有很多計量應用。

So I think we do see it broadly. I don't think it will ever get to the levels of Process Control intensity we see in leading-edge foundry logic, but it will increase probably at a faster rate in terms of growth of process control as we go forward. Assuming the successful deployment of EUV, which right now is certainly what they're working on.

所以我認為我們確實廣泛地看待它。我認為它永遠不會達到我們在尖端代工邏輯中看到的製程控制強度水平，但隨著我們前進，製程控制的增長速度可能會更快。假設 EUV 部署成功，這肯定是他們現在正在做的事情。

Just one example of that is in what we're hearing now is for DRAM is that there seems to be no pellicle is going to be used in the lithography. That's the belief right now. And if so, that puts a lot of pressure on print check, which is a very high intensity application for Gen 5. So there would be an example of a new application. I can't remember -- I can vaguely remember, but it wasn't in any decades since we've been doing it on a print check in DRAM. So this would be a whole new application for those customers.

舉個例子，我們現在聽到的關於 DRAM 的消息是，光刻技術中似乎不會使用防護薄膜。這就是現在的信念。如果是這樣，那將給列印檢查帶來很大的壓力，這對 Gen 5 來說是一個非常高強度的應用。因此這將是一個新的應用程式的範例。我不記得了——我依稀記得，但自從我們在 DRAM 上進行列印檢查以來，已經有幾十年沒有這樣做了。因此，對於那些客戶來說，這將是一個全新的應用程式。

And as you know, some of them have experienced in advanced logic, so they know what that means. At least one of them does. So there's going to be some crossover from that. So we're feeling pretty good about where that's coming in terms of shaping up for yet another driver for intensity.

而且正如你所知，他們中的一些人具有高級邏輯經驗，所以他們知道這意味著什麼。他們中至少有一個人是這樣的。因此，將會存在一些交叉。因此，我們對於即將出現的另一個強度驅動因素感到非常滿意。

Great. And just as a quick follow-up, maybe for Bren. You guys have been posting really strong services revenues, which is not a surprise. Do you believe any of this incremental pickup in services is related to, I guess the shortage situation with chips, it's driving probably higher utilization rates and probably the need to keep these tools running. Do you feel like any of this incremental pickup in services is related to the current market situation involved with semiconductors?

偉大的。作為一個快速的後續行動，也許對布倫來說。你們的服務收入一直非常強勁，這並不奇怪。您是否認為服務業的這種增量成長與晶片短缺情況有關，它可能會提高利用率，也可能需要保持這些工具的運作。您是否認為服務業的這種增量成長與目前的半導體市場狀況有關？

Sure, sure. That's driving the higher utilization rates. So that's certainly a factor. One of the -- also the large factors you're starting to see tools that were shipped in '20 as we've seen that the systems business grow and ramp that those tools are coming out of warranty now as we move into the second half of '21. And so that is also a driver of incremental service revenue.

當然，當然。這推動了利用率的提高。所以這當然是一個因素。其中一個重要因素是，您開始看到 20 年發貨的工具，因為我們已經看到系統業務的成長和提升，隨著我們進入 21 年下半年，這些工具現在已經過了保固期。這也是增加服務收入的一個驅動力。

I think that contract penetration has been good in this environment. Customers rely on us to keep their capacity up. And so we've also seen some incremental benefit of -- from a contract renewal point of view. So I think there's a number of factors that are driving it.

我認為在這種環境下合約滲透率一直很好。客戶依靠我們來維持他們的產能。因此，從合約續約的角度來看，我們也看到了一些增量效益。所以我認為有很多因素在推動這現象。

And we'll take our next question from Mehdi Hosseini with SIG.

我們將回答 SIG 的 Mehdi Hosseini 提出的下一個問題。

Yes. Most of my questions have been answered. Just a quick follow-up for the team. Your December quarter revenue implies a wide range, up 7% to 16%. I would like to hear what are the key variables that would drive the low end versus the high end.

是的。我的大部分問題都已得到解答。這只是對團隊的快速跟進。您的 12 月季度收入意味著較大的成長範圍，成長 7% 至 16%。我想了解一下推動低端與高端的關鍵變數是什麼。

Mehdi, it's Bren. So our typical revenue guidance range is plus or minus $100 million. And typically for that, it tends for us to be more about, look, we have very large integer tools. We can have systems that can cost upwards of $40 million apiece. And so at times, depending on dynamics around supply chain, the dynamics around customer readiness and in some cases, you have to go to customer accepting -- their customer acceptance. So there are always those factors that influence our -- where we could land in a certain range.

梅赫迪，我是布倫。因此，我們的典型收入預期範圍是正負 1 億美元。通常對於這一點，我們傾向於更關注，看，我們有非常大的整數工具。我們的系統每個成本可能高達 4000 萬美元。因此，有時，根據供應鏈的動態、客戶準備的動態，在某些情況下，您必須考慮客戶的接受度——他們的客戶接受度。因此，總是存在一些影響我們——我們可以在某個範圍內著陸的因素。

So our range has been very consistent over the last several quarters. I don't think anything's really changed on that front. It really gets down to our assessment of where we're at. In some cases, we have evaluations, consignments that have to be bought out. So there's always some fluidity to our expectations in our revenue plan as we build it up. But I wouldn't say that there's any one issue or another that is driving how we're thinking about the overall range.

因此，過去幾季我們的範圍一直非常穩定。我認為在這方面並沒有什麼改變。這其實取決於我們對自身現狀的評估。在某些情況下，我們需要進行評估，需要買斷寄售。因此，在製定收入計劃時，我們的預期總是會有一些不確定性。但我不會說有某個問題影響著我們對整體範圍的思考。

Got it. That's fair. And then one quick follow-up on WFE. Given your view on the first half of calendar year '22, it seems to me that your share gain could be in the 50 to 100 basis point, and you're not providing absolute dollar value of WFE. But if I just take your commentary, it seems like a minimum of 50 basis point share gain is actually very conservative. Do you have anything you can share with me?

知道了。這很公平。然後對 WFE 進行快速跟進。鑑於您對 22 日曆年上半年的看法，我認為您的股票收益可能在 50 到 100 個基點之間，而且您沒有提供 WFE 的絕對美元價值。但如果我只是接受你的評論，似乎至少 50 個基點的股價上漲實際上是非常保守的。您有什麼可以跟我分享的嗎？

Well, we feel very good about the relative performance this year and to our prepared remarks, also next year. When we were at our Investor Day in New York back in 2019, we laid out a plan that we thought that would drive KLA's share of WFE up 75 to 100 basis points between 2019 and 2023. Part of that was market share gain, part of it we thought were intensity opportunities related to the introduction of some new products. So we feel pretty good about the trajectory we're on.

嗯，我們對今年的相對錶現以及我們準備好的明年的發言感到非常滿意。當我們在 2019 年紐約參加投資者日時，我們制定了一項計劃，我們認為該計劃將在 2019 年至 2023 年期間推動 KLA 在 WFE 中的份額上升 75 至 100 個基點。其中一部分是市場佔有率的成長，我們認為其中一部分是與推出一些新產品相關的強度機會。因此，我們對目前的發展軌跡感到非常滿意。

I don't want to provide a specific number there. But our goal is to hit our plan, and I feel pretty good about where we are relative to that plan.

我不想在那裡提供具體的數字。但我們的目標是實現我們的計劃，我對我們目前在該計劃方面的進展感到非常滿意。

Operator, we have time, it looks like, for one last question.

接線員，看起來我們還有時間回答最後一個問題。

Okay. Our final question will come from Harlan Sur with JPMorgan.

好的。我們的最後一個問題來自摩根大通的 Harlan Sur。

Great job on the quarterly execution and strong results. [EVG] adoption continues at a pretty aggressive pace in using mass layer accounts continue to expand with every new technology node. And then additionally, you have the one large logic customer that is now back on an aggressive technology cadence, leveraging EV. So how are you guys thinking about the growth of your reticle inspection business relative to overall Process Control for this year? And how are you thinking about reticle inspection growth into next year?

季度執行情況出色，業績強勁。[EVG] 的採用繼續以相當積極的速度進行，使用大量層帳戶並隨著每個新技術節點的不斷擴展。此外，您還有一位大型邏輯客戶，現在他又回到了積極的技術節奏，利用 EV。那麼，你們如何看待今年的光罩檢測業務相對於整體製程控制的成長？您如何看待明年的光罩檢測的成長？

Yes. When I look at reticle inspection, I think it's a market growth kind of number this year, probably will be a record for us this year. And -- but I think on a go-forward basis, you're right, the introduction of EUV and increasing layer counts are driving growth in that overall market. As you know, we support that market with multiple products that help optimize for our customers to optimize around some of the technology challenges but also the economic objectives that they have.

是的。當我觀察光罩檢查時，我認為今年的市場將會成長，今年可能會創下新高。而且 — — 但我認為從未來來看，你是對的，EUV 的引入和層數的增加正在推動整個市場的成長。如您所知，我們透過多種產品支持該市場，幫助我們的客戶優化解決一些技術挑戰以及他們的經濟目標。

So I do think that there's an inflection in that market. We've seen nice performance this year, and we expect to see it continue to grow over the next few years.

所以我確實認為該市場正在轉變。我們今年看到了良好的表現，我們預計未來幾年將繼續成長。

Yes. I appreciate that. And then one of the big growth drivers for next year in terms of WFE is more of these mature and specialty nodes and you guys talked a bit about it. But I think the team actually did recently introduce 4 or 5 new tools which are primarily focused on mature and specialty inspection and metrology, like the C205 broadband plasma inspection platform. Can you guys just give us a sense of early adoption curve? What's the differentiation of these tools versus customers just buying like refurbished older-generation KLA tools?

是的。我很感激。那麼，就 WFE 而言，明年的一大成長動力是更多成熟和專業的節點，你們對此進行了一些討論。但我認為該團隊最近確實推出了 4 或 5 種新工具，這些工具主要專注於成熟和專業的檢查和計量，例如 C205 寬頻等離子檢查平台。你們能為我們介紹一下早期採用曲線嗎？這些工具與客戶購買翻新的舊一代 KLA 工具有何不同？

Sure, Harlan. I mean I think that there was, I think, historically, a view of trying to leverage the older technology. But as you can imagine, those tools are quite aged at this point. So we definitely saw a step-up, plus it was harder for us to service it. So we're seeing a lot more capability we can offer now in some of these -- and I'd say the C205 is like a derivative tool of the BBP tool. So that's one where you get a lot of capability and certainly take advantage of all the work we've done in the algorithm area.

當然，哈蘭。我的意思是，我認為從歷史上看，人們曾經試圖利用舊技術。但正如您所想像的，這些工具現在已經相當老舊了。因此，我們確實看到了進步，而且我們為其提供服務的難度也更大了。因此，我們看到現在我們可以在其中一些產品中提供更多的功能——我想說 C205 就像是 BBP 工具的衍生工具。因此，您可以從中獲得很多功能，當然可以充分利用我們在演算法領域所做的所有工作。

And so we can offer it a lower cost because of the configuration and all that, but it has a lot of capabilities. So we're seeing much more interest in newer capability. And remember, these guys are getting pushed very hard by their supply chain, especially in automotive because there's such a focus on preventing some of the defects, reliability issues. As you know, those are incredibly expensive if they're caught later. So we're seeing pretty good adoption and growth. And it's kind of a little bit countered overall WFE's cyclicality. So we think that is a steady area of investment.

因此，我們可以憑藉其配置等以較低的成本提供它，但它卻具有許多功能。因此，我們看到人們對新功能的興趣越來越濃厚。請記住，這些傢伙受到供應鏈的極大壓力，特別是在汽車行業，因為他們非常注重防止某些缺陷和可靠性問題。如你所知，如果這些罪行被發現的話，代價將非常高昂。因此，我們看到了相當好的採用率和成長。這有點與 WFE 整體的周期性相反。因此我們認為這是一個穩定的投資領域。

What we laid out at the Investment Day, 100 years ago, it feels like 2019, we're still on track, actually ahead of plan for that in terms of automotive. And we anticipated bringing on some of these products at that time.

100 年前我們在投資日所設定的目標，感覺就像 2019 年一樣，我們仍然走在正軌上，實際上在汽車方面已經提前完成了計劃。我們預計當時會推出其中一些產品。

And I assume that you're getting, what higher dollar capture value for these new tools relative to, let's say, purchasing a refurbished tool?

我想你會想​​，相對於購買翻新工具而言，這些新工具的美元捕獲價值有多高？

Oh, much higher. And I think it's just -- it's a better deal, frankly, for everybody. I mean the capability of the software, they can do more with them. We can service them more effectively, have a longer life. I think, a lot of upside for them to do that. In fact, in many of these older fabs, this might be the one area where they are bringing in new capability.

噢，高多了。我認為這對每個人來說都是更好的選擇，坦白說。我的意思是，他們可以利用軟體的功能做更多的事情。我們可以更有效地為它們提供服務，延長它們的使用壽命。我認為，這樣做會為他們帶來很多好處。事實上，在許多舊工廠中，這可能是他們引進新產能的一個領域。

And thank you, everybody, for your time. This will conclude the call. I'll pass it back to the operator for any final instructions.

謝謝大家抽出時間。通話將結束。我會將其交還給操作員以獲取最終指示。

And this concludes the KLA Corporation September Quarter 2021 (sic) [2022] Earnings Call and Webcast. Please disconnect your line at this time, and have a wonderful day.

KLA Corporation 2021 年 9 月季度 [原文如此] [2022] 收益電話會議和網路廣播到此結束。此時請斷開您的線路，祝您有美好的一天。