科磊 (KLAC) 2021 Q4 法說會逐字稿

Good afternoon. My name is Britney, and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation June Quarter 2021 Earnings Conference Call and Webcast. (Operator Instructions) I will now turn the call over to Kevin Kessel, Vice President of Investor Relations. Please go ahead.

午安.我叫布蘭妮，今天我將擔任您的會議接線生。現在，我歡迎大家參加 KLA 公司 2021 年 6 月季度收益電話會議和網路廣播。（操作員指示）現在我將把電話轉給投資者關係副總裁 Kevin Kessel。請繼續。

Thank you, and welcome to KLA's fiscal Q4 2021 quarterly earnings call to discuss the results of the June quarter and the outlook for the September quarter. With me on today's call is Rick Wallace, our Chief Executive Officer; and Bren Higgins, our Chief Financial Officer.

謝謝，歡迎參加 KLA 2021 財年第四季季度財報電話會議，討論 6 月季度的業績和 9 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。

During this call, we will discuss quarterly results for the period ended June 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.

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 6 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 materials 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 report 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 提交的文件的鏈接，包括我們最新的年度報告以及 10-K 和 10-Q 表格的季度報告。

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 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，都受這些風險的影響，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. The June 2021 quarter showed continued momentum and strength for KLA. We delivered on our top and bottom line goals and progressed against our long-term strategic objectives. Specifically, quarterly revenue grew 7% sequentially and 32% year-over-year to $1.925 billion. Non-GAAP earnings per share was $4.43, representing 15% sequential growth and 63% growth compared to the prior year. These results demonstrate strong growth momentum in our core markets, and the operating leverage in the KLA model. We continue to see increased customer demand across each of our major product groups. This demand is related to ongoing secular demand trends driving semiconductor industry growth across a broad range of markets and applications. Our customers are increasing their strategic CapEx investments to address these growth markets and investing in their leading edge R&D efforts.

您好，感謝您今天加入我們。2021 年 6 月季度，KLA 持續保持強勁發展勢頭。我們實現了我們的頂線和底線目標，並朝著我們的長期策略目標邁進了。具體而言，季度營收季增 7%，年增 32%，達到 19.25 億美元。非公認會計準則每股收益為 4.43 美元，季增 15%，年增 63%。這些結果顯示我們核心市場強勁的成長勢頭，以及 KLA 模型中的營運槓桿。我們持續看到客戶對我們各主要產品組的需求不斷增加。這種需求與持續的長期需求趨勢相關，推動半導體產業在廣泛的市場和應用領域實現成長。我們的客戶正在增加其策略資本支出，以應對這些成長市場，並投資於其前沿研發工作。

Against the strong demand backdrop, we are navigating evolving customer needs and persistent supply chain challenges. Still, KLA continues to outperform expectations by operating with purpose and precision and focusing on creating value for our customers, partners and shareholders. This strong execution is led by our talented global teams continuing to go above and beyond, constantly rising to the challenge and opportunities of the marketplace.

在強勁的需求背景下，我們正在應對不斷變化的客戶需求和持續的供應鏈挑戰。儘管如此，KLA 仍然憑藉有目的、精準的營運以及專注於為我們的客戶、合作夥伴和股東創造價值，繼續超越預期。這種強大的執行力是由我們才華橫溢的全球團隊領導的，他們不斷超越自我，不斷迎接市場的挑戰和機會。

I will quickly summarize our view of the industry demand environment. We're in a great position relative to growth drivers that are creating momentum for the industry and our business. As a result, our outlook for the wafer fab equipment industry continues to move higher. We have increased our growth estimate from the low to mid-20s stated last quarter to the low to mid-30s on a percentage basis. This is from a base of approximately $61 billion in calendar 2020. With strong secular semiconductor demand trends continuing, we expect positive industry dynamics to sustain into calendar 2022.

我將快速總結我們對產業需求環境的看法。我們在為產業和我們的業務創造動力的成長動力方面處於有利地位。因此，我們對晶圓廠設備產業的前景持續看好。我們已將成長預期從上一季的 25% 出頭提高到了 35% 出頭。這是以 2020 年約 610 億美元為基數得出的。隨著強勁的長期半導體需求趨勢持續下去，我們預計積極的產業動態將持續到 2022 年。

As our business benefits from this increased demand and our customers are also investing in leading-edge node development, fab optimization and regional expansion, KLA offers the leading portfolio of products to solve our customers' challenges. We continue to invest high levels of R&D to ensure we are constantly improving and remaining indispensable to our customers. Specifically, we're prioritizing investment in artificial intelligence and machine learning. KLA's unique capabilities in leveraging these technologies and our product and service offerings help drive adoption and differentiates KLA against the competition. KLA benefits from long-standing market leadership and high levels of investment in advanced laser, sensor, optics and data analytics technologies that leverage our AI and ML capabilities to identify critical defects in the production process and deliver ever-increasing precision in metrology applications. This investment helps our product and service offerings deliver best-in-class performance, lower process variability, higher yields, improved time to market, and reduced cost of ownership for our customers.

由於我們的業務受益於這種成長的需求，我們的客戶也在投資前沿節點開發、晶圓廠優化和區域擴張，KLA 提供了領先的產品組合來解決客戶的挑戰。我們持續投入大量資金進行研發，以確保我們不斷進步並始終成為客戶不可或缺的一部分。具體來說，我們優先投資人工智慧和機器學習。KLA 在利用這些技術以及我們的產品和服務方面具有獨特的能力，有助於推動採用並使 KLA 在競爭中脫穎而出。KLA 受益於長期的市場領導地位以及對先進雷射、感測器、光學和數據分析技術的大量投資，這些技術利用我們的 AI 和 ML 功能來識別生產過程中的關鍵缺陷並在計量應用中提供不斷提高的精度。這項投資有助於我們的產品和服務提供一流的性能、更低的製程變化、更高的產量、更快的上市時間並降低客戶的擁有成本。

Our growing R&D investment is happening as process control intensity is increasing. KLA's market leadership in the process control market remains greater than 4x the nearest competitor as reported by Gartner Research in April of 2021. KLA's sustained performance in process control is augmented by a broader position within the electronics ecosystem through our electronics, packaging and components or EPC businesses and the contributions of our large and growing services business. For new and long-time KLA investors, it's essential to point out that KLA's market leadership is a result of consistent and focused execution of our company's differentiated strategy.

隨著製程控制強度的增加，我們的研發投入也不斷增加。根據 Gartner Research 2021 年 4 月的報告，KLA 在製程控制市場的領導地位仍然是最接近的競爭對手的 4 倍以上。透過我們的電子、封裝和組件或 EPC 業務以及我們龐大且不斷增長的服務業務的貢獻，我們在電子生態系統中佔據了更廣泛的地位，從而增強了 KLA 在製程控制方面的持續表現。對於 KLA 的新投資者和長期投資者來說，必須指出的是，KLA 的市場領導地位是我們公司持續、專注地執行差異化策略的結果。

With this favorable backdrop and our strong execution, we're on track to achieve our 2023 financial targets well ahead of expectations. Let's now move along to the top highlights for our most recent quarter. First, KLA continues to execute well and outperform expectations. In foundry and logic, we see simultaneous investments across multiple nodes, and our customers continue to increase demand forecasts. We remain encouraged by the breadth and consistency of investment across our customer base.

在這有利背景和強大執行力的幫助下，我們有望提前實現 2023 年的財務目標。現在讓我們來看看最近一個季度的亮點。首先，KLA 繼續表現良好並超越預期。在代工和邏輯領域，我們看到跨多個節點的同時投資，我們的客戶也不斷增加需求預測。我們仍然對客戶群的投資廣度和一致性感到鼓舞。

In memory, demand is strong and spread across a broader set of customers. During the quarter, we announced 4 new products targeting the automotive semiconductor market, including patterned and unpatterned wafer inspection and in-line test solutions. KLA's automotive solutions aim to help customers identify and mitigate potential reliability defects in the development and manufacturing of automotive semiconductors early in the manufacturing process, improving device reliability and driving significant value for our customers.

在記憶方面，需求強勁，並且遍布更廣泛的客戶群。本季度，我們發布了 4 款針對汽車半導體市場的新產品，包括圖案化和非圖案化晶圓檢測和線上測試解決方案。KLA 的汽車解決方案旨在幫助客戶在製造過程的早期識別和減輕汽車半導體開發和製造中潛在的可靠性缺陷，提高設備可靠性並為我們的客戶帶來巨大的價值。

Second, KLA's strong market leadership and optical pattern wafer inspection has helped to drive strong relative growth for our semiconductor process control segment in 2021. In fact, optical pattern wafer inspection is forecast to be among the fastest-growing segments in WFE in 2021 for product segments over $1 billion in revenue and is poised to outpace the overall industry growth by a factor of 2x this year. This follows similar growth and outperformance in 2020.

其次，KLA 強大的市場領導地位和光學圖案晶圓檢測幫助推動了我們 2021 年半導體製程控制部門的強勁相對成長。事實上，對於收入超過 10 億美元的產品領域而言，光學圖案晶圓檢測預計將成為 2021 年 WFE 中成長最快的領域之一，今年的成長速度預計將超過整體產業成長 2 倍。這與 2020 年類似的成長和優異表現一致。

Third, KLA's flagship reticle inspection business is on pace for a record year in 2021, growing faster than the market and growing our leadership position. As proof of that, we estimate that nearly all the reticles today at 5-nanometer are inspected by KLA systems. Our next-generation e-beam based 8XX mask inspection platform shipped last quarter and has begun customer qualification for applications at 3-nanometer and below.

第三，KLA 的旗艦光罩偵測業務預計在 2021 年創下紀錄，成長速度快於市場，並鞏固了我們的領導地位。為了證明這一點，我們估計當今幾乎所有 5 奈米的光罩都經過 KLA 系統檢查。我們的下一代基於電子束的 8XX 掩模檢測平台已於上個季度發貨，並已開始針對 3 奈米及以下應用進行客戶認證。

Fourth, our services revenue was $444 million in the June quarter or 23% of total sales. 75% of services revenue in our semiconductor process control segment and more than 90% of services revenue in our printed circuit board business is from recurring subscription-based contracts. We believe these are among the highest subscription service rates in the industry. The Services business is on track for another year of strong double-digit growth, well above our long-term growth model target. The growth is driven by our expanding installed base, higher utilization rates and increasing expansion of service opportunities at the trailing edge and the EPC group.

第四，6 月季度我們的服務收入為 4.44 億美元，佔總銷售額的 23%。我們半導體製程控制部門 75% 的服務收入和印刷電路板業務 90% 以上的服務收入來自定期訂閱合約。我們相信這些是業內最高的訂閱服務費率之一。服務業務可望再創兩位數強勁成長，遠高於我們的長期成長模型目標。成長的動力來自於我們不斷擴大的安裝基礎、更高的利用率以及後緣和 EPC 集團服務機會的不斷擴展。

Our Semiconductor Process Control service business revenue continues to grow faster than the rate of the growth of the installed base, approximately 2.8x faster from 2016 through 2020. KLA Service business has the advantage of always working in close collaboration with our customers and partners, driving innovation and new initiatives for growth.

我們的半導體製程控制服務業務收入持續以高於安裝基數成長率的速度成長，從 2016 年到 2020 年約成長 2.8 倍。KLA 服務業務的優勢在於始終與我們的客戶和合作夥伴密切合作，推動創新和新的成長舉措。

Finally, in keeping with our commitment to deliver strong and predictable capital returns to our shareholders, today, we announced that KLA's Board of Directors approved a 17% increase in the company's quarterly dividend level from $0.90 to $1.05 per share. This is the 12th consecutive annual increase in our dividend level, which has grown at a compounded annual rate of 16% since inception in 2006. In addition, we announced a new $2 billion share repurchase authorization targeted for execution over the next 12 to 18 months. We believe KLA's track record of delivering strong capital returns is a key component of the KLA investment thesis and offers predictable and compelling value creation for our shareholders.

最後，為了履行我們向股東提供強勁且可預測的資本回報的承諾，今天，我們宣布 KLA 董事會批准將公司季度股息水平從每股 0.90 美元提高 17% 至 1.05 美元。這是我們的股利水準連續第 12 年增加，自 2006 年成立以來，年複合成長率為 16%。此外，我們也宣布了一項新的 20 億美元股票回購授權，計劃在未來 12 至 18 個月內執行。我們相信，KLA 提供強勁資本回報的記錄是 KLA 投資理論的關鍵組成部分，並為我們的股東提供可預測且引人注目的價值創造。

Before moving into the financial highlights, let's briefly summarize a few key points. KLA's June quarter results demonstrate the critical nature of KLA's products and services in enabling the digital transformation of our lives, the resiliency of the KLA operating model and our commitment to productive capital allocation. KLA is exceptionally well positioned with a comprehensive portfolio of products to meet demanding customer requirements that balance sensitivity and throughput. The semiconductor and electronics landscape are constantly changing, and we are seeing broadening customer interest driven by more technology innovation than ever before at the leading edge. KLA also delivers enduring value through our commitment to corporate stewardship. We look forward to sharing an update on our ESG vision in our Global Impact report, which will be released in the coming weeks.

在介紹財務亮點之前，讓我們先簡單總結幾個要點。KLA 六月季度的業績證明了 KLA 產品和服務在實現我們生活的數位轉型、KLA 營運模式的彈性以及我們對生產性資本配置的承諾方面的關鍵性。KLA 擁有全面的產品組合，能夠滿足客戶在靈敏度和吞吐量之間取得平衡的嚴格要求，因此具有得天獨厚的優勢。半導體和電子領域不斷變化，我們看到，在尖端技術創新的推動下，客戶的興趣日益廣泛。KLA 也透過對企業管理的承諾提供持久的價值。我們期待在未來幾週發布的《全球影響力報告》中分享我們 ESG 願景的最新進展。

And with that, I'll pass the call over to Bren.

說完這些，我會把電話轉給布倫。

Thank you, Rick. KLA's June quarter '21 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. Total revenue in the June quarter was $1.93 billion, towards the top end of the guided range. Non-GAAP gross margin was 62%, at the midpoint of the guided range for the quarter of 61% to 63%. Non-GAAP EPS was $4.43, above the guided range of $3.47 to $4.35. GAAP EPS was $4.10.

謝謝你，里克。KLA 21 年 6 月季度的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。六月當季總收入為 19.3 億美元，接近預期範圍的最高值。非公認會計準則毛利率為 62%，位於本季指引範圍 61% 至 63% 的中點。非公認會計準則每股收益為 4.43 美元，高於 3.47 美元至 4.35 美元的指導範圍。GAAP EPS 為 4.10 美元。

Non-GAAP total operating expenses were $419 million, about $7 million higher than expected, primarily due to engineering materials timing and adjustments to variable compensation programs. Non-GAAP operating expenses included $241 million of R&D expense and $178 million of SG&A. At KLA, technical application support for our customers is included in SG&A and was $44 million in the quarter. The combination of R&D expense and technical applications represents about 70% of total operating expenses.

非公認會計準則總營運費用為 4.19 億美元，比預期高出約 700 萬美元，主要原因是工程材料時機和可變薪酬計畫的調整。非公認會計準則營運費用包括 2.41 億美元的研發費用和 1.78 億美元的銷售、一般及行政費用。在 KLA，我們為客戶提供的技術應用支援包含在銷售、一般和行政費用中，本季為 4,400 萬美元。研發費用和技術應用費用合計約佔總營運費用的70%。

KLA innovation is fundamental to our go-to-market strategy focused on differentiated solutions. R&D is at the heart of KLA and remains a key element in driving our portfolio strategy and product differentiation. This in turn helps sustain our technology and market leadership. Non-GAAP operating income was very strong at 40.2%.

KLA 創新是我們專注於差異化解決方案的行銷策略的基礎。研發是 KLA 的核心，也是推動我們的產品組合策略和產品差異化的關鍵要素。這反過來有助於維持我們的技術和市場領先地位。非公認會計準則營業收入非常強勁，達到 40.2%。

Given higher revenue expectations for the second half of '21, product development requirements, ongoing regionalization of additional customer engagement resources and increased investment in our global infrastructure due to overall business volume, we expect non-GAAP operating expenses to be approximately $430 million in the September quarter. Going forward, we will 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 multi-quarter horizon.

鑑於對 21 年下半年更高的收入預期、產品開發要求、額外客戶參與資源的持續區域化以及由於整體業務量而增加的全球基礎設施投資，我們預計 9 月季度的非 GAAP 營運費用約為 4.3 億美元。展望未來，我們將繼續根據目標營運模式調整公司規模，該模式將在多個季度內透過營收成長實現 40% 至 50% 的增量營運利潤率槓桿。

Other income and expense in the June quarter net was $11 million, reflecting the gain on an investment in a strategic supplier that recently completed an initial public offering. This gain represented $0.15 of earnings per share at the company's tax planning rate of 13.5%. You should continue to model other income and expense net at approximately $43 million per quarter. The quarterly adjusted effective tax rate was 10.4%, reflecting the benefit of favorable audit adjustments recognized in the period. Non-GAAP net income was $684 million, GAAP net income was $633 million. Cash flow from operations was $466 million, and free cash flow was $410 million.

六月當季其他收入和支出淨額為 1,100 萬美元，反映了對最近完成首次公開募股的策略供應商的投資收益。以該公司 13.5% 的稅收計劃稅率計算，這一收益相當於每股收益 0.15 美元。您應該繼續將其他收入和支出淨額建模為每季約 4,300 萬美元。季度調整後有效稅率為10.4%，反映了本期間確認的有利審計調整帶來的好處。非公認會計準則淨收入為 6.84 億美元，公認會計準則淨收入為 6.33 億美元。經營現金流為 4.66 億美元，自由現金流為 4.1 億美元。

The company had approximately 154 million diluted weighted average shares outstanding at quarter end.

截至本季末，該公司已發行約 1.54 億股稀釋加權平均股票。

Revenue for the Semiconductor Process Control segment, including its associated service business, was $1.581 billion, a sequential quarterly increase of 5% and also up 37% compared with June of last year. The approximate Semiconductor Process Control customer segment mix was in line with our forecast from April, as Foundry/Logic was 68% and memory was 32%. In memory, the business was split roughly 34% NAND and 66% DRAM.

包括相關服務業務在內的半導體製程管制部門的收入為 15.81 億美元，比上一季成長 5%，比去年 6 月成長 37%。半導體製程控制客戶細分市場的大致結構與我們 4 月的預測一致，其中代工廠/邏輯佔 68%，記憶體佔 32%。在記憶體方面，業務大約分為 34% 的 NAND 和 66% 的 DRAM。

Revenue for Electronics, Packaging and Components Group hit a record in the quarter, driven by continued strength in 5G mobile and infrastructure, as well as rising demand in automotive. More specifically, the Specialty Semiconductor Process segment generated revenue of $98 million, up 7% sequentially and down 2% over the prior year. Demand in this segment was mostly driven by growth in the automotive power semiconductor applications, where we have a leading position in edge and deposition products. Specialty Semiconductor Processes' performance was also highlighted by the second straight quarter of record bookings. PCB, display and component inspection revenue was $247 million, up 20% sequentially and up 22% year-over-year with the data center driving strength in advanced PCB and packaging inspection.

受 5G 行動和基礎設施持續強勁以及汽車需求不斷增長的推動，電子、包裝和零件集團本季營收創下新高。更具體地說，特種半導體製程部門的收入為 9,800 萬美元，季增 7%，年減 2%。該領域的需求主要受到汽車功率半導體應用成長的推動，我們在邊緣和沈積產品方面處於領先地位。專用半導體製程業務的表現也因連續第二季創下訂單記錄而引人注目。PCB、顯示器和組件偵測收入為 2.47 億美元，比上一季成長 20%，比去年同期成長 22%，資料中心推動了先進 PCB 和封裝偵測的強勁成長。

KLA ended the quarter with $2.5 billion in total cash, total debt of almost $3.5 billion and a flexible and attractive bond maturity profile supported by strong investment-grade ratings from all 3 agencies. We were also pleased to see Moody's upgrade our debt rating in early June to A2 from BAA1, further underscoring the strength of our balance sheet and sustainability of our business and financial performance.

本季結束時，KLA 的總現金為 25 億美元，總債務接近 35 億美元，債券到期日靈活且具有吸引力，並獲得了三個機構的強勁投資級評級。我們也很高興看到穆迪在 6 月初將我們的債務評級從 BAA1 上調至 A2，這進一步凸顯了我們資產負債表的強勁以及業務和財務業績的可持續性。

We have tremendous confidence in our business over the long run and are committed to a long-term strategy of cash returns to shareholders, executing a balanced approach split between dividends and share repurchases, targeting long-term returns of at least 70% of free cash flow generated. Our announcement today of our 12th consecutive annual increase in the dividend and the additional share repurchase authorization are representative of our explicit approach and strong track record of predictable and productive capital deployment.

我們對我們的長期業務充滿信心，並致力於制定向股東提供現金回報的長期策略，在股息和股票回購之間採取平衡分配的方式，目標是實現至少 70% 的自由現金流的長期回報。我們今天宣布連續第 12 年增加股息和額外股票回購授權，這代表了我們明確的方法和可預測且高效的資本配置的良好記錄。

Over the last 12 months, KLA returned $1.5 billion to shareholders, including $559 million in dividends paid and $939 million in share repurchases. While circumstances can change, our current expectation remains that our capital returns for calendar '21 will exceed 85% of expected free cash flow.

在過去的 12 個月中，KLA 向股東返還了 15 億美元，其中包括 5.59 億美元的股息和 9.39 億美元的股票回購。儘管情況可能會發生變化，但我們目前的預期仍然是，21 年的資本回報將超過預期自由現金流的 85%。

KLA has a history of consistent free cash flow generation, high free cash flow conversion and strong free cash flow margins across all phases of the business cycle and economic conditions. During the quarter, we generated $410 million in free cash flow and repurchased $300 million of common stock, while also paying $139 million in dividends.

KLA 在商業週期和經濟狀況的各個階段都擁有持續的自由現金流產生、高自由現金流轉換率和強勁的自由現金流利潤率。本季度，我們產生了 4.1 億美元的自由現金流，回購了 3 億美元的普通股，同時也支付了 1.39 億美元的股息。

Our overall semiconductor demand and WFE outlook continues to increase from our views earlier in the year. At the start of this year, we characterized 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. Today, we see further improvement and expect the WFE market to grow in the low to mid-30s from approximately $61 billion in calendar in 2020 to approximately $81 billion at the midpoint in calendar '21. This reflects the broad-based strengthening of demand across all customer segments.

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百分之十幾左右，上下浮動幾個百分點。今年 4 月，我們將這項預測修正為 20% 左右，且偏向上行。如今，我們看到了進一步的改善，預計 WFE 市場規模將從 2020 年的約 610 億美元增長至 2021 年中期的約 810 億美元，增幅在 35% 到 50% 之間。這反映出所有客戶群的需求普遍增強。

KLA is in position to deliver strong relative growth this year, driven by our market leadership and strong momentum in the marketplace across multiple product platforms in both the Semiconductor Process Control and EPC groups. Looking ahead, we remain encouraged by the sustainability of our current demand profile. As a result, we continue to expect total company revenue to improve sequentially quarter-to-quarter throughout the remainder of the calendar year. We also expect the second half of calendar '21 to grow in the mid-teens on a percentage basis versus the first half as more of our manufacturing capacity comes online to support this strong customer demand.

由於我們的市場領導地位以及半導體製程控制和 EPC 集團多個產品平台的市場強勁勢頭，KLA 今年有望實現強勁的相對成長。展望未來，我們仍然對當前需求狀況的可持續性感到鼓舞。因此，我們繼續預期今年剩餘時間內公司總營收將逐季成長。我們也預計，隨著我們更多的製造能力上線以滿足強勁的客戶需求，21 年下半年的銷售額將比上半年成長 15% 左右。

Furthermore, our system shipment expectations point to meaningful growth in Semiconductor Process Control equipment systems the second half of calendar '21. This strong backdrop supports our current expectations of high 30s to low 40s year-over-year percentage growth for the Semiconductor Process Control Systems business in calendar '21. As a result, we continue to believe that this business is positioned to outperform in '21 relative to the overall WFE market.

此外，我們的系統出貨量預期表明，21年下半年半導體製程控制設備系統將實現有意義的成長。這一強勁的背景支持了我們目前的預期，即 21 年度半導體製程控制系統業務的年成長率將達到 30% 至 40% 之間。因此，我們仍然相信，相對於整個 WFE 市場，這項業務在 21 年將表現優異。

Our September quarter guidance is as follows: total revenue is expected to be in a range of $2.02 billion, plus or minus $100 million. Foundry/Logic is forecasted to be approximately 59% and memory is expected to be approximately 41% of Semiconductor Process Control Systems revenue to semiconductor customers. Within memory, DRAM is expected to be about 60% of the segment mix. We forecast non-GAAP gross margin to be in a range of 61.5% to 63.5%. At the midpoint, this is 50 basis points above the June quarter level due principally to product mix. While in any given quarter, the mix of our business across products and business segments will affect our gross margin results, the structural trends, both in terms of product cost, manufacturing efficiency and product positioning remain compelling and are sustainable tailwinds going forward.

我們對 9 月份季度的預期如下：預計總收入在 20.2 億美元左右，上下浮動 1 億美元。預計代工廠/邏輯將佔半導體製程控制系統對半導體客戶收入的約 59%，而記憶體預計將佔半導體製程控制系統對半導體客戶收入的約 41%。在記憶體領域，DRAM 預計佔比約 60%。我們預測非公認會計準則毛利率將在 61.5% 至 63.5% 之間。從中間值來看，這比六月季度的水平高出 50 個基點，主要原因是產品組合。雖然在任何一個季度，我們跨產品和業務部門的業務組合都會影響我們的毛利率結果，但產品成本、製造效率和產品定位方面的結構性趨勢仍然引人注目，並且是未來可持續的順風。

Other model assumptions for September include non-GAAP operating expenses of approximately $430 million; other income and expense of approximately $43 million; and an effective adjusted tax rate of approximately 13.5%. Finally, GAAP diluted EPS is expected to be in a range of $3.76 to $4.64, and non-GAAP diluted EPS in a range of $4.01 to $4.89. The EPS guidance is based on a fully diluted share count of approximately 153.5 million shares.

9 月的其他模型假設包括非 GAAP 營運費用約為 4.3 億美元；其他收入和費用約為 4,300 萬美元；有效調整稅率約為 13.5%。最後，預計 GAAP 稀釋每股收益在 3.76 美元至 4.64 美元之間，非 GAAP 稀釋每股收益在 4.01 美元至 4.89 美元之間。EPS 預期基於約 1.535 億股完全稀釋股數。

In closing, the industry dynamics driving semiconductors and investments in WFE remain compelling, with broad-based customer demand and simultaneous investments across multiple technology nodes. We are encouraged by the leading indicators for our business, including our backlog and sales funnel visibility over the next couple of quarters. Our customers' multiyear investment plans also point to the stability of demand in the future.

最後，推動半導體和 WFE 投資的行業動態仍然引人注目，具有廣泛的客戶需求和跨多個技術節點的同時投資。我們業務的領先指標令我們感到鼓舞，包括未來幾季的積壓訂單和銷售管道可見度。我們客戶的多年投資計畫也顯示未來需求的穩定性。

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

KLA 繼續表現良好，並有望超越預期地超越我們的 2023 年財務目標。KLA 營運模式使我們能夠表現出色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。它們還鞏固了我們持續的技術領先地位、深度競爭模式、強勁的財務業績以及長期的自由現金流產生和股東資本回報記錄。

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

現在，我將把電話轉回給凱文，開始問答環節。

Thanks, Bren. Britney, can you please queue up for questions.

謝謝，布倫。布蘭妮，你能排隊回答問題嗎？

(Operator Instructions) And we will take our first question from Harlan Sur with JPMorgan.

（操作員指示）我們將回答摩根大通的 Harlan Sur 提出的第一個問題。

Great job on the quarterly execution and strong results. EUV adoption continues strongly. If I look at the outlook for EUV litho systems, that's set to grow like mid-30% this year. You have a positive exposure here via your wafer inspection systems, but also the strong leadership in EUV mask inspection and print check. I know this doesn't represent your entire process control business, but it's sort of a good proxy. But you guys are guiding your optical inspection, your mask inspection and your overall process control business to grow well above that range. So what are the 2 or 3 dynamics that are driving the strength above EUV adoption? And more importantly, with the visibility that you guys have, how are you feeling about the sustainability of the overall second half momentum into the first half of next calendar year?

季度執行情況出色，業績強勁。EUV 的採用持續強勁。如果我看一下 EUV 微影系統的前景，那麼今年它的成長率將達到 30% 左右。你們透過晶圓檢測系統獲得了積極的曝光，並且在 EUV 掩模檢測和印刷檢查方面也擁有強大的領導地位。我知道這並不代表您的整個過程控制業務，但它是一種很好的代理。但是你們正在引導光學檢測、掩模檢測和整體製程控制業務的成長遠遠超出這個範圍。那麼，推動 EUV 普及的兩三個動力是什麼？更重要的是，根據你們的了解，你們如何看待下半年整體動能能否持續到明年上半年？

Harlan, it's Rick. Thanks for the question. You're right. I think we are seeing a lot of strength in the process control portfolio, driven -- as I mentioned in the prepared remarks, we look at optical wafer inspection and really seeing a lot of uptake on that. What's interesting about that is it's a pretty good mix between GEN4 and GEN5. So both of the -- GEN5 is more exposed, I would say, to the EUV dynamic, but we're seeing more proliferation of GEN4 also as people continue to add advanced capability. And we expected that with the rising complexity really across the board, and it's not just in the EUV areas of mainly Logic and Foundry, but also we're seeing it in memory. That's 1 area.

哈蘭，我是瑞克。謝謝你的提問。你說得對。我認為我們在製程控制產品組合中看到了很大的優勢，正如我在準備好的發言中提到的那樣，我們專注於光學晶圓檢測，並且確實看到了很多這方面的應用。有趣的是，它是 GEN4 和 GEN5 之間的完美結合。因此，我想說，GEN5 更容易受到 EUV 動態的影響，但隨著人們不斷添加先進功能，我們也看到 GEN4 的進一步普及。我們預計，隨著複雜性的全面上升，這種情況不僅出現在主要的邏輯和代工廠的 EUV 領域，而且我們也在記憶體中看到這種情況。那是 1 個區域。

We mentioned also reticle is having a really strong year as the number of advanced designs continue. So we're seeing both related to EUV, but also just increased process control intensity really across the entire portfolio. So that's why we feel so strongly about the remainder of the year. And as Bren indicated, we're looking into 2022 for that strength to continue.

我們也提到，隨著先進設計的不斷湧現，標線今年的發展非常強勁。因此，我們看到這兩者都與 EUV 有關，而且整個產品組合中的製程控制強度實際上都在提高。這就是為什麼我們對今年剩餘時間的感受如此強烈。正如布倫所指出的，我們期待 2022 年這種強勁勢頭能夠持續下去。

Bren, you want to provide more color?

布倫，你想提供更多顏色嗎？

Yes. So as Rick said, I think as we continue through the second half of this year, both those businesses are growing faster than market, as we said in the prepared remarks. In fact, I would think that the optical inspection business is 1 of the fastest-growing markets in all of WFE, if not the fastest. So there's a lot of inflections around EUV, but also other process dynamics that are driving that. But the introduction of EUV driving shrinks in the business -- or shrinks in design rules is creating an opportunity for both platforms. And also leveraging optical inspection for validating reticle quality.

是的。正如里克所說，我認為隨著我們進入今年下半年，這兩項業務的成長速度都將快於市場，正如我們在準備好的發言中所說的那樣。事實上，我認為光學檢測業務是整個 WFE 中成長最快的市場之一，甚至可能是最快的。因此，EUV 周圍有很多變化，但也有其他過程動態在推動這一點。但 EUV 驅動的引入會縮小業務規模，或縮小設計規則，這為兩個平台創造了機會。並利用光學檢測來驗證標線品質。

Also at 5-nanometer in the reticle part of the business, you also have increasing reticle complexity. And our offering in that market, after a number of years where reticle complexity wasn't changing all that much in the double patterning environment, as we move to EUV, radical complexity is changing dramatically. And our offering is a more technical offering, and we're getting strong customer interest in that product. So I think there's sustainable tailwinds here through the rest of this year and as we move into '22.

此外，在 5 奈米光罩業務部分，光罩的複雜性也不斷增加。我們在該市場提供的產品，在雙重圖案環境中，光罩複雜性多年來並沒有太大變化，但隨著我們轉向 EUV，根本複雜性正在發生巨大變化。我們提供的產品是技術含量較高的產品，客戶對產品的興趣也越來越濃厚。因此，我認為今年剩餘時間以及進入 2022 年，這裡將出現可持續的順風。

I appreciate that. And then on the gross margin front, can you just help us understand the uptick in your gross margins into the September quarter? It looks like component costs are rising. I'm assuming the team also has to pay expedite fees for some parts. And your end market mix is more weighted towards memory, which I would think would have some slight negative bias on gross margins. So it's great to see the team driving the margin profile higher, but just help us understand some of the drivers of that.

我很感激。那麼在毛利率方面，您能否幫助我們了解 9 月份季度毛利率的上升情況？看起來零件成本正在上升。我估計團隊還必須為某些部分支付加急費用。而且你們的終端市場組合更偏向內存，我認為這會對毛利率產生輕微的負面影響。因此，很高興看到團隊推動利潤率不斷提高，但這僅能幫助我們了解其中的一些驅動因素。

Well, customer mix doesn't impact our margin profile. Our products across all segments have the same margin profile. So it really is a mix dynamic that is driving the quarter-to-quarter, the 50 basis point increase. We have most of the growth quarter-to-quarter is coming from semi process control systems. And those carry higher margins than obviously our service business or our EPC business. So that's been the bigger driver. We have supply chain challenges like everybody else, and we're constantly trying to manage our way through those. Freight costs are higher. Those are embedded. And maybe over time as some of those pressures alleviate, we'll get a little bit of benefit from that into the future. But we certainly have that in our numbers and expecting it to remain at that level over the next couple of quarters.

嗯，客戶組合不會影響我們的利潤狀況。我們所有領域的產品都具有相同的利潤率。因此，這確實是一個混合動態，推動了季度環比增長 50 個基點。我們季度間的大部分成長來自於半製程控制系統。這些業務的利潤率顯然比我們的服務業務或 EPC 業務更高。所以這是更大的驅動力。和其他人一樣，我們也面臨供應鏈挑戰，我們一直在努力解決這些挑戰。運費成本較高。那些是嵌入的。也許隨著時間的推移，這些壓力會減輕，我們將來會從中獲得一些好處。但我們的數據中確實有這個數字，並且預計未來幾個季度它將保持在這個水平。

On the component side, there is pressure on components. There's pressure on raw materials for frames and steel specifically for the frames of our tools. So we're dealing with that. Labor pressures are different around the world. We have factories at different locations, but we're also dealing with that as well. I would expect as we move forward, we'll see some pressure. So far, it's been offset by the strength of the volume. So we've worked with our suppliers and the volume upside has been favorable, but I do expect we'll see some pressure on components.

零件方面，零件面臨壓力。我們的工具框架的原料和鋼材面臨壓力。所以我們正在處理這個問題。世界各地的勞動力壓力各不相同。我們在不同的地方設有工廠，但我們也正在處理這個問題。我預計，隨著我們不斷前進，我們會看到一些壓力。到目前為止，這一影響已被強勁的成交量所抵消。因此，我們與供應商合作，銷售上漲勢頭良好，但我確實預計我們會在零件方面面臨一些壓力。

The way we price products tends to be value-centric. We have a value pricing model. It's not a cost-based model, but we're certainly going to have to deal with that as it comes through. At these revenue levels into the future, I would think we're probably looking at 10 to 20 basis points type of impact over time from some of the inflationary pressures on our COGS. But that's contemplated in the guidance we provided in terms of our margin expectations moving forward.

我們為產品定價的方式往往以價值為中心。我們有一個價值定價模式。這不是一個基於成本的模型，但我們肯定要在它實現時處理它。在未來的這些收入水平下，我認為我們可能會看到通膨壓力對我們的 COGS 產生 10 到 20 個基點的影響。但我們在未來利潤預期的指導中已經考慮到了這一點。

And we will take our next question from John Pitzer with Credit Suisse.

我們將回答瑞士信貸的約翰·皮策的下一個問題。

Rick, Bren, congratulations on the strong quarter. Rick, I wanted to go back to your prepared comments about the investments that you're making in AI and ML. I mean, clearly, some of your peers have talked about big investments in that area. I'd be curious if you could help us understand how you think your approach might differ from theirs? How maybe your incumbency gives you an upper hand here? And as you think about this, is this a way to maintain already outstanding share? Or do you think there's actually incremental revenue and SAM capability as you bring this out?

里克、布倫，恭喜你們本季的強勁業績。里克，我想回到你準備好的關於你在人工智慧和機器學習方面所做投資的評論。我的意思是，顯然，您的一些同行已經談到了在該領域的大規模投資。我很好奇，您是否可以幫助我們了解您認為您的方法與他們的方法有何不同？您的現任職位可能讓您在這方面佔上風嗎？您想一想，這是維持現有優秀份額的一種方式嗎？或者您是否認為，當您提出這一點時，實際上會增加收入和 SAM 能力？

And Bren, maybe on the gross margin, what could be the influence to gross margin? I'm assuming this is mainly software or IP, which would seem to be gross margin accretive?

布倫，也許就毛利率而言，什麼因素會對毛利率產生影響？我認為這主要是軟體或 IP，這似乎可以增加毛利率？

John, thanks for the question. We've been working on what has been, what is now called, AI and ML for years now. And of course, because we handle so much data,in our systems, especially in the optical wafer system but also in the reticle system, that we've been having to manage that data and look for signal in that data for a long time. What ML enables and machine learning enables along with AI is just extracting more information out of that data. So as we continue to have more capability to manage it, our work on AI has proliferated across most of our products now in some form or another, but we continue to add upgrades.

約翰，謝謝你的提問。多年來，我們一直致力於現在所謂的人工智慧 (AI) 和機器學習 (ML)。當然，因為我們的系統，特別是在光學晶圓系統和光罩系統中處理如此多的數據，所以我們必須長期管理這些數據並在這些數據中尋找訊號。ML 和機器學習與 AI 一起實現的功能只是從資料中提取更多資訊。因此，隨著我們不斷擁有更多管理能力，我們在人工智慧方面的工作已經以某種形式擴展到我們的大多數產品中，但我們會繼續進行升級。

So I think to answer your question, 1 way to think about it is we can squeeze more capability out of existing generations by leveraging the algorithms and the AI work. And in the past, where we may have needed to ship wavelengths for example, to get more capability, we can do that with algorithms. So 1 of the questions that had been brought up in the past was for example, the limitations of optical wafer inspection and why e-beam was going to maybe take a large part of the share. That was the thesis a few years ago. But it was through AI and through ML and our advanced optics capability that we've actually created additional node capability out of the optical systems.

所以我認為回答你的問題，一種思考方式是，我們可以利用演算法和人工智慧，從現有的幾代中榨取更多的能力。過去，我們可能需要運送波長來獲得更多能力，我們可以使用演算法來實現。因此，過去提出的一個問題是，例如光學晶圓檢測的局限性以及為什麼電子束可能會佔據很大一部分。這是幾年前的論點。但正是透過人工智慧、機器學習和我們先進的光學能力，我們才真正在光學系統中創造了額外的節點能力。

So I think that's another way that we've expanded and lengthened the lifetime of the products. Part of why GEN4 has a longer life now is we're squeezing more capability out of that, leveraging it.

所以我認為這是我們擴大和延長產品壽命的另一種方式。GEN4 現在壽命更長的原因之一是我們正在從中榨取更多能力，並加以利用。

To answer your other question, it is expanding into our other products. Those were the first really in the work we do at reticle. But it's also driving some opportunities for us in other segments as we expand the leverage of that capability into both metrology, but also some of our traditionally lower end wafer inspection systems that are applying in trailing edge capability. So it's really kind of across the board. And you're right, it's very -- if you can amortize the engineering the way we do, it's pretty accretive to the overall business volume because you're -- we do make a large investment. We're by far the -- we have the most investment going on of -- no question, among our peers, because we're doing it across such a broad portfolio. But we're getting leverage as we have multiple products that are leveraging it. So Bren can speak to how that drives the P&L.

回答您的另一個問題，它正在擴展到我們的其他產品。這些確實是我們在標線上所做的工作中的第一批。但隨著我們將這種能力的優勢擴展到計量領域，以及一些應用於後緣能力的傳統低端晶圓檢測系統，它也為我們在其他領域帶來了一些機會。所以這確實是一種全面的措施。你說得對，如果你能像我們一樣攤提工程費用，那麼整體業務量就會大大增加，因為我們確實進行了大筆投資。毫無疑問，我們是迄今為止在同行中投資最多的，因為我們的投資範圍非常廣泛。但我們正在獲得槓桿作用，因為我們有多個產品可以利用它。因此，布倫可以談談這如何推動損益。

Yes, John, I think it's much more of an operating margin statement or a reduction in R&D intensity is another way to think about it. Platform extendability is 1 of the biggest decisions we make in our product life cycle processes. We're making choices, and we can extend platforms. It means that over time, we get a higher return on investment on those engineering dollars. So we don't have to go develop the next one, which is what drives significant cost in the model as you're developing and bringing a new product to market. So by extending it, we see the leverage in our operating margins.

是的，約翰，我認為這更多的是營業利潤率報表，或者說研發強度的降低是另一種思考方式。平台可擴展性是我們在產品生命週期過程中做出的最大決策之一。我們正在做出選擇，我們可以擴展平台。這意味著隨著時間的推移，我們將獲得更高的工程投資回報。因此，我們不必去開發下一個產品，而這正是在開發新產品並將其推向市場時導致模型成本大幅增加的原因。因此，透過延長期限，我們可以看到營業利潤率的提升。

Now in terms of gross margin, software content or software offerings are increasing across the whole company, not just within Semi Process Control, where we have businesses now that are starting to get to meaningful revenue levels where we're selling software directly. And we have that there and we also have it in the EPC business, where we're providing simulation capabilities, data analytics, other computational methods, design-based capabilities to help point our inspectors and get more value out of the KLA offerings.

現在就毛利率而言，整個公司的軟體內容或軟體產品都在增加，而不僅僅是在半製程控制領域，我們現在的業務開始透過直接銷售軟體達到有意義的收入水平。我們在那裡擁有它，我們在 EPC 業務中也有它，我們提供模擬功能、數據分析、其他計算方法、基於設計的功能來幫助我們的檢查員並從 KLA 產品中獲得更多價值。

So there's a few dynamics that are there that I think are good for us in terms of solving some of these problems as technology road maps get more and more complicated, but then also driving operating margin leverage over time.

因此，我認為，隨著技術路線圖變得越來越複雜，存在一些對我們解決其中的一些問題有益的動態，但同時也會隨著時間的推移推動營業利潤率槓桿。

And we will 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。

As you think about your implied revenue guide for December, it looks like it's about $250 million of process control. And it sounds like that is coming on -- based on new manufacturing capabilities that you're bringing online. So curious, what's the impact to gross margins at that time frame? And will that satisfy all pent-up demand? Or will your lead times still be extended heading into calendar '22?

當您考慮 12 月的隱含收入指南時，它看起來像是約 2.5 億美元的流程控制。聽起來這即將實現——基於你們正在上線的新製造能力。所以很好奇，這對那個時段的毛利率有什麼影響？這能滿足所有被壓抑的需求嗎？或到 22 年您的交貨時間是否仍會延長？

Yes, C.J., it's a great question. As far as lead times go, I think lead times are holding pretty flat. One of the challenges -- and we had hoped that we'd start to see those pull in a bit, but demand has continued to increase. So we're seeing stronger demand, and we're doing a lot of work to add capacity. So things aren't extending out, but they're not necessarily pulling in either.

是的，C.J.，這是一個很好的問題。就交貨時間而言，我認為交貨時間保持相當穩定。其中一個挑戰是──我們原本希望看到這些需求回升，但需求卻持續增加。因此，我們看到了更強勁的需求，我們正在做大量工作來增加產能。因此，事物不會向外延伸，但也不一定是向內拉。

Yes, based on our comments, you do have a ramp in our -- in Semi Process Control Equipment into the December quarter. That's a richer mix. So I'm not going to guide December, but that should carry a richer gross margin profile given the nature of the products that we're shipping. That capacity has come online. I've got some revenue recognition dynamics related to new facilities and product transitions that's pushing some of those shipments, if you will, that are happening this quarter -- rather, that will happen next quarter. So that's also part of the higher sequential growth that we're seeing into the December quarter. Did I answer your questions?

是的，根據我們的評論，我們在 12 月季度的半製程控制設備銷售確實有所成長。這是一個更豐富的組合。因此，我不會對 12 月的業績做出預測，但考慮到我們所運送產品的性質，12 月的毛利率應該會更高。該產能已上線。我有一些與新設施和產品轉型相關的收入確認動態，這些動態正在推動一些出貨量，如果你願意的話，這些出貨量將在本季度發生 - 或者說，將在下個季度發生。因此，這也是我們在 12 月季度看到的更高連續成長的一部分。我回答你的問題了嗎？

Yes, that's great. If I could just sneak a second 1 in. As you think about your Foundry/Logic outlook for 2022, and you talked about continued strength. I was hoping you could speak to perhaps any changes that you see in the landscape, whether leading edge, lagging edge, EUV adoption, DRAM, anything we should be thinking about portfolio-wise that could be a little different than 2021?

是的，太棒了。如果我能偷偷地把第二個 1 放進去就好了。當您思考 2022 年的 Foundry/Logic 前景時，您談到了持續的實力。我希望您能談談您所看到的產業格局變化，無論是尖端技術、落後技術、EUV 採用、DRAM，還是我們應該從投資組合角度考慮的任何可能與 2021 年略有不同的變化？

Not really. I think just in terms of overall sustainability, we would expect to see the leading edge continue to invest as we go into next year. And given the public statements that have been made there, I think that's pretty consistent with what we're seeing. On the trailing edge side, we are seeing orders that are coming into backlog, but also in the funnel from a number of customers, a much more meaningful level of customers that haven't invested all that much in the past and are addressing some of these automotive and industrial and some of these other more trailing edge challenges. So I would think from a shipment or revenue point of view, we'll see that business actually start to come to the P&L as we move into '22.

並不真地。我認為，就整體永續性而言，我們預計在進入明年時前沿領域將繼續進行投資。鑑於在那裡發表的公開聲明，我認為這與我們所看到的情況非常一致。在後緣方面，我們看到訂單正在積壓，但也有來自許多客戶的訂單，這些客戶的層次更為重要，他們過去並沒有投入太多，正在解決一些汽車和工業以及其他一些後緣挑戰。因此，我認為從出貨量或收入的角度來看，隨著我們進入22年，我們會看到業務實際上開始進入損益表。

China has been mostly Logic-centric this year, native China. And so I think we'll have to see how that plays out as we move into next year in terms of growth. Certainly, there's, I think, sustainability with the business levels that have been elevating through this year. But I would expect to see a little bit more memory activity probably next year in China. And I think that's probably the 1 area where we don't have as much visibility in terms of logic growth there. So I think those are the dynamics and how they're playing.

今年中國主要以邏輯為中心，本土化。因此，我認為我們必須觀察明年的成長情況。當然，我認為，今年業務水準的提升具有可持續性。但我預計明年中國可能會出現更多的記憶活動。我認為這可能是我們在邏輯成長方面不太了解的一個領域。所以我認為這些就是他們的動態和表現方式。

I think in terms of DRAM and NAND, I would expect those to continue to maintain the momentum that we've been seeing through '21.

我認為就 DRAM 和 NAND 而言，我預計它們將繼續保持我們在 21 年看到的勢頭。

But C.J., I mean, just 1 thing to add, a lot of the business that we're booking now is revenue in '22. I mean, that's part of our confidence in '22. We're filled out for '21. And so that's part of what we're seeing. And then some of the players you know who are trying to regain the lead, a lot of that investment hasn't really shown up in our revenue numbers yet.

但 C.J.，我的意思是，我只想補充一點，我們現在預訂的很多業務都是 22 年的收入。我的意思是，這是我們對 22 年信心的一部分。我們已經為 21 年做好了準備。這就是我們所看到的部分情況。而你知道，一些試圖重新奪回領先地位的參與者，他們的許多投資還沒有真正體現在我們的收入數字上。

We will 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。

Congrats on the strong results. I have 2 of them. First 1 for reticle brand. I just want to ask the December quarter question in a different way. You said your Semi Process Control should grow 40% this year and half-over-half is mid-teens growth. So if I look at that, it looks like December quarter is around $2.3 billion, give or take. Is that a decent proxy for December revenues? And are you not seeing any impact from any of the component shortages that's affecting some of your friends in the industry?

恭喜您取得如此優異的成績。我有 2 個。標線品牌排名第一。我只是想以不同的方式詢問 12 月季度的問題。您說今年您的半過程控制應該會成長 40%，其中一半以上的成長率是百分之十幾。因此，如果我看一下，看起來 12 月季度的金額大約是 23 億美元，差不多。這是 12 月份收入的合理代表嗎？您是否沒有看到零件短缺對您業內的一些朋友造成任何影響？

And then I had a follow-up.

然後我進行了後續跟進。

Yes. So I'm not going to guide December specifically, what we try to do is give you some perspective on our expectations for growth of Semiconductor Process Control equipment for the year. That was the high 30s to low 40s statement. We also talked about the total company growing mid-teens half to half. And so that was another statement there as well.

是的。因此，我不會具體指導 12 月的情況，我們試圖做的是讓您了解我們對今年半導體製程控制設備成長的預期。那是 30 多歲到 40 多歲的聲明。我們也談到了整個公司的成長速度有一半到一半。這也是另一種說法。

So I don't want to put a point out there in terms of the revenue guide, but hopefully, you can get there with the details we have provided.

因此，我不想在收入指南方面提出任何觀點，但希望您能夠透過我們提供的詳細資訊來了解情況。

Components are a daily challenge. We are managing across our factories, across our teams, managing our suppliers to be able to deliver the parts that we need. Some components have intrinsic lead times for us that are long-term. And so we have to make decisions, and we've been making decisions to make investments or for that to commit -- make commitments to those suppliers to be able to provide that supply for us as we move into '22. So it's a challenge. We're working our way through it. I'm spending more time. I've been with KLA for 21 years, and I'm spending more time on supply chain than I ever have and certainly as CFO since 2013. So we're dealing with it. We're making our way through it.

組件是每天面臨的挑戰。我們管理我們的工廠、我們的團隊、我們的供應商，以便能夠交付我們所需的零件。對我們來說，有些組件的內在交付週期是長期的。因此，我們必須做出決定，我們一直在做出投資決定或承諾——向那些供應商做出承諾，以便在我們進入22年時能夠為我們提供供應。所以這是一個挑戰。我們正在努力解決這個問題。我花更多的時間。我在 KLA 工作了 21 年，在供應鏈上花費的時間比以往任何時候都多，而且自 2013 年以來一直擔任財務長。所以我們正在處理它。我們正在努力解決它。

And the guidance and context we provided contemplates what we expect to happen. It's our best expectations based on what we know today.

我們提供的指導和背景考慮了我們期望發生的情況。這是我們根據目前所知所做的最佳預期。

Got it. Got it. And then just as a follow-up, just 1 question on China. Obviously, you had really strong sales there in the June quarter. And if I try to back out your ex-China sales it actually declined from March to June. And you also said China is mostly logic. So I'm kind of curious, are there that many logic-foundry players in China? Or is this just a long tail of smaller players buying equipment? And any kind of color you can give on China with regards to your sales? And any kind of split between domestic and MNCs would be very helpful.

知道了。知道了。接下來作為後續問題，我只想問一個關於中國的問題。顯然，你們六月季度的銷售業績非常強勁。如果我嘗試回顧中國以外的銷售額，它實際上從 3 月到 6 月有所下降。而且您還說中國主要是邏輯。所以我有點好奇，中國有那麼多邏輯代工廠商嗎？還是這只是小型企業購買設備的長尾現象？能透露一下貴公司在中國的銷售情況嗎？國內企業和跨國企業之間的任何形式的劃分都會非常有益。

Yes. You have to remember that when we just talk about our mix of business, that's the total company. So that includes EPC. So I believe our China percentage was like 32%. If you look at the native investment as a percent of our Semiconductor Process Control segment, it's about 25%. So the numbers, when you're extrapolating like that can lead you to different conclusions.

是的。你必須記住，當我們談論業務組合時，指的是整個公司。這包括 EPC。所以我相信我們的中國市佔率是32%。如果將本土投資視為我們半導體製程管制部門的百分比，則約為 25%。因此，當你這樣推論時，這些數字可能會讓你得出不同的結論。

There are a number of small projects that are logic-centric projects in China that are targeting specific markets around IoT and image sensors and a bunch of those kinds of opportunities, obviously, automotive and industrial. So I think there are new projects in a lot of cases, which are going to be coming online over time. And -- but there is a lot of activity there. So yes, there are.

中國有許多以邏輯為中心的小型項目，針對物聯網和影像感測器等特定市場以及一系列此類機會，顯然是汽車和工業。因此我認為在許多情況下都會有新的項目，這些項目將會隨著時間的推移而上線。而且——但是那裡有很多活動。是的，有。

And we will take our next question from Joseph Moore with Morgan Stanley.

我們將回答摩根士丹利的約瑟夫·摩爾提出的下一個問題。

Great. I wonder if you could talk about -- you mentioned having new products for the automotive sector. And how are you thinking about this. You sort of see the older foundry nodes looks like it's going to be a source of sustainable strength for a while. Can you actually target that business a little bit more directly than you have? And just generally, what kind of activity are you seeing in the older foundry nodes?

偉大的。我想知道您是否可以談談——您提到了針對汽車行業的新產品。您對此有何看法？您會看到，較舊的代工節點看起來將在一段時間內成為可持續力量的來源。您能否比現在更直接地瞄準該業務？總的來說，您在較舊的鑄造節點中看到了什麼樣的活動？

Yes, sure, Joseph. We've actually been engaged for quite a while with some of the leading automotive -- even the automotive customers coming to us asking us to help them with their suppliers. That's been going on for a few years. What's really happened now is it's broadened the number of customers that are recognizing, and of course, the shortage of automotive semiconductors contributed to that. So we've been developing products that have, I would say, our adaptations of existing products that provide additional capability in support of automotive, where as you know, they're looking for more reliability. There's some cases where we're helping traceability in terms of how they're driving those fabs.

是的，當然，約瑟夫。實際上，我們已經與一些領先的汽車公司合作了很長一段時間——甚至汽車客戶也來找我們，要求我們幫助他們聯繫供應商。這種情況已經持續好幾年了。現在真正發生的情況是，認識這個問題的客戶數量增加，當然，汽車半導體的短缺也是造成這現象的原因之一。因此，我們一直在開發產品，我想說，我們對現有產品進行了改進，以提供額外的功能來支援汽車，正如你所知，他們正在尋求更高的可靠性。在某些情況下，我們正在幫助他們追蹤這些晶圓廠的運作方式。

So yes, that's an area we outlined in our 2019 Analyst Day where we talked about that was a growth area for us, and we believe it continues to be. Obviously, it was a rough start in 2020, where a lot of customers shut down their plans for automotive semiconductor now to their dismay, but those are back on. And so we do have those products. We're engaging with customers. There's a strong demand for that, and we think that's sustainable, and we think that will continue to grow as more of the automotive players see the value in that and that will just continue to broaden. So we have a segment and a work area that we're focused on that. And it's also where our business that we got through Orbotech SPTS works also, some of the process capability there. So it's more than just inspection. It's broader for us than that.

是的，這是我們在 2019 年分析師日概述的一個領域，我們在會議上討論了這是我們的一個成長領域，我們相信它會持續下去。顯然，2020 年的開局並不順利，許多客戶沮喪地放棄了汽車半導體計劃，但這些計劃現在又重新開始了。所以我們確實有這些產品。我們正在與客戶互動。對此有強勁的需求，我們認為這是可持續的，我們認為隨著越來越多的汽車廠商看到其中的價值，這種需求將繼續增長，而且這種需求將繼續擴大。因此，我們有一個專注於此的部分和一個工作領域。我們透過 Orbotech SPTS 開展的業務也在這裡進行，部分流程能力也在這裡進行。所以這不僅僅是檢查。對我們來說，這比這更廣泛。

So it's pretty exciting. It's a good growth area, and I think it's 1 that we'll continue to see progress over the next several quarters.

所以這非常令人興奮。這是一個很好的成長領域，我認為我們將在接下來的幾個季度繼續看到進展。

And we will 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) 的下一個問題。

Curious on your advanced packaging, you recently talked about packaging becoming more like front end. I was curious, how would you compare maybe contrast the 2 in terms of just the increasing capital intensity? And then maybe can you touch on your position in front-end and how that maybe drives differentiation for the packaging?

我對您的先進封裝感到好奇，您最近談到封裝變得更像前端。我很好奇，就資本密集度的增加而言，您會如何比較這兩者？然後您能否談談您在前端的職位以及這如何推動包裝的差異化？

I think there's a couple of things. One is, as more of the big players are focused on packaging as a source of either maintaining differentiation or closing a differentiation gap, there's more investment with larger players that know KLA. And frankly, I think we're getting more seats at the table and engagements with them, because of their knowledge of KLA and their desire to put their bets behind a proven player. So we have capability. We have some products. We're doing some product development, some product adaptation, in support of that. But the technology there is moving. The process control intensity is significantly lower than it is, of course, in the leading edge. But the rate of growth is very fast, the rate of growth in process control.

我認為有幾件事。一是，隨著越來越多的大公司將重點放在包裝上，將其視為保持差異化或縮小差異化差距的來源，了解 KLA 的大型公司將獲得更多的投資。坦白說，我認為我們在與他們的合作中獲得了更多的席位和參與度，因為他們了解 KLA，並且願意將賭注押在一位經驗豐富的球員身上。所以我們有能力。我們有一些產品。為了支持這一點，我們正在進行一些產品開發和產品改造。但那裡的技術正在進步。當然，過程控制強度明顯低於尖端技術。但成長速度非常快，製程控制的成長率非常快。

So I would say we have an abundance of opportunities there to execute on, but it will require us to bring new capabilities. And so we're engaging with our customers in that. And I can tell you, we're getting as much pull there as we are in the front end for capabilities as customers try to accelerate their road map. So we're seeing strong growth as we increase the process control intensity. And it's not just process control. Once again, some of the process equipment we have with SPTS is also being leveraged in that area as well as in our PCB business, which isn't all inspection and measurement. So we do see strong growth. We see a lot of potential consistent with the plans we laid out in 2019 at our Investor Day.

所以我想說，我們有很多機會可以實現，但這需要我們有新的能力。因此我們正在與客戶進行這樣的互動。我可以告訴你，當客戶試圖加速他們的路線圖時，我們在前端的能力方面獲得了與在前端一樣多的吸引力。因此，隨著我們提高製程控制強度，我們看到了強勁的成長。這不僅僅是過程控制。再次強調，我們與 SPTS 合作的部分製程設備也在該領域以及我們的 PCB 業務中得到利用，而這些業務並非全部用於檢查和測量。因此我們確實看到了強勁的成長。我們看到了許多潛力，這與我們在 2019 年投資者日制定的計劃一致。

You also have the integration of the PCB board through IC substrate into the package. And so that's a good driver for us moving forward. We're working on new capability to better address that market. We also -- the ICOS finished component inspection business is inspecting the finished packages. And so that complexity is also driving an inflection in that market. We're seeing very strong growth in that market as well. Probably the fastest-growing part of EPC is -- today is through ICOS. So I think there's a lot of opportunity, as Rick said. And some of it's dependent on us bringing new capability to market, but certainly, customers are trying to leverage the different positions we have across a number of different applications, trying to leverage the relationship with us to do more there.

您也可以透過 IC 基板將 PCB 板整合到封裝中。這是我們前進的良好動力。我們正在努力開發新功能以更好地滿足該市場的需求。我們也—ICOS 成品元件偵測業務正在偵測成品封裝。因此，這種複雜性也推動了該市場的變化。我們也看到該市場非常強勁的成長。目前 EPC 成長最快的部分可能是透過 ICOS。所以我認為有很多機會，正如里克所說的。其中一些取決於我們為市場帶來新的功能，但可以肯定的是，客戶正試圖利用我們在許多不同應用程式中的不同地位，試圖利用與我們的關係在那裡做更多的事情。

Yes. And just to put a number on it. We said $400 million in 2019. We're ahead of plan, and we can beat that, do more than that with some of the developments we're contemplating. So I think we've got the products now to perform to that, and we can do more, and we're getting encouraged by the signs that we're seeing as -- engaging with these customers.

是的。並在上面加上一個數字。我們說2019年是4億美元。我們已提前完成計劃，而且我們可以超越計劃，透過我們正在考慮的一些發展做得更多。所以我認為我們現在有產品可以實現這一目標，而且我們還可以做得更多，我們看到的與這些客戶互動的跡像也讓我們感到鼓舞。

And we will 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 and outlook. Rick, maybe first off, a big picture and kind of the long-term outlook for the process control industry and your positioning. Gate all around is becoming -- or it will be coming on board in the next few years. And I know you've probably been working with your customers. You've got an incremental benefit when the industry transitions to FinFET transistors. How do you see the incremental opportunities as you go to gate all around where not only are you seeing new materials, but more materials in that transistor area?

恭喜本季業績和前景良好。里克，首先，請您概括地介紹一下製程控制行業的整體情況和長期前景，以及您的定位。全方位門正在成為——或者將在未來幾年內成為現實。我知道您可能一直在與您的客戶合作。當產業轉向 FinFET 電晶體時，您將獲得增量利益。當您進入閘極周圍時，您如何看待增量機會？您不僅看到了新材料，而且看到了晶體管領域的更多材料？

Yes, it's a great question. As you know, if you follow our business, any of these technology transitions, inflections, present opportunity for process control. Because the first thing that our customers need to figure out is how to get the process ramped. So I think we're seeing advanced indicators that that's going to be great for adoption of additional capability. It's also where the portfolio really matters. Because in the case of gate all around, adaptation to the GEN4 wafer inspection, in some ways, is more important than what GEN5 does. GEN5 is very important for the smaller defectivity that we need to detect and the lower rates, but GEN4 for the contrast. And so some of the development we've been doing with our customers has been to tune our products for that advanced transistor capability.

是的，這是一個很好的問題。如您所知，如果您關注我們的業務，您會發現任何這些技術轉型和變化都為流程控制提供了機會。因為我們的客戶需要弄清楚的第一件事就是如何加快這一進程。所以我認為我們看到的先進指標表明，這對於採用額外的功能將非常有利。這也是投資組合真正重要的地方。因為在gate all around的情況下，對GEN4晶圓檢測的適應，從某種程度上來說，比GEN5做的更重要。對於我們需要檢測的較小缺陷和較低的比率來說，GEN5 非常重要，但對於對比度來說，GEN4 非常重要。因此，我們與客戶一起進行的一些開發就是針對先進的電晶體功能調整我們的產品。

So I think that what you'll see is a continued increase in process control intensity. The way we modeled it is relatively modest over the long term, but of course, the cumulative effect is it adds up. And that's why we think process control intensity outgrows WFE on the order of 0.5 percentage point, if we're going from 15% to 15.5%, depending on what the aggregate, that's a blended between Logic and Memory. But we'll see it over time that you'll see it creep up as a result of those new inflections. Provided we have the products to support it, which is a lot of the work that we've been doing. So we feel like we're in really good position to support our customers to do that.

所以我認為你會看到過程控制強度的持續增加。從長遠來看，我們的建模方式相對溫和，但當然，累積效應是會累積的。這就是為什麼我們認為製程控制強度比 WFE 高出 0.5 個百分點，如果我們從 15% 增加到 15.5%，這取決於總量，這是邏輯和記憶體的混合。但隨著時間的推移，我們會看到它因這些新的變化而逐漸上升。只要我們有產品來支持它，這就是我們一直在做的大量工作。因此，我們覺得我們完全有能力支持我們的客戶做到這一點。

Great. That's helpful. And my follow-up question, maybe for you, Bren. In terms of the investments you're making, you talked about systems picking up, expanding capacity, bringing people on board to meet the increased shipments. Services are also growing quite rapidly, and you've mentioned that it's growing faster than the target CAGR you were looking at. What are the types of investments you need to make in services, given that not only is your semi services growing at the installed base growth, but PCB tends to be a very service-intensive business as well. And that marketplace is also showing signs of some more secular growth trends, given some of the marketplaces that they're penetrating. How do you look at service investments both near-term and over the next few years?

偉大的。這很有幫助。我的後續問題是針對你的，布倫。就您所做的投資而言，您談到了系統的恢復、產能的擴大、招募人員以滿足增加的出貨量。服務業也在快速成長，您提到它的成長速度超過了您所關注的目標複合年增長率。鑑於您的半導體服務不僅隨著安裝基數的增長而增長，而且 PCB 也往往是一種服務密集型業務，那麼您需要在服務方面進行哪些類型的投資？考慮到他們正在滲透的一些市場，該市場也顯示出一些更長期的成長趨勢的跡象。您如何看待近期和未來幾年的服務投資？

That's a great question. And certainly trying to get more leverage out of the service businesses of the acquired companies, acquired businesses for KLA, has been 1 of our parts -- a key component of the investment thesis when we look at these kinds of transactions. And smaller companies have a hard time trying to have the infrastructure just given the nature of their size to be able to support a broad service footprint.

這是一個很好的問題。當然，試圖從被收購公司的服務業務（為 KLA 收購的業務）中獲得更多槓桿一直是我們的工作內容之一——也是我們在研究此類交易時投資論點的關鍵組成部分。而規模較小的公司很難擁有能夠支援廣泛服務範圍的基礎設施。

So being able to leverage our infrastructure, now the go-to-market is different. How we engage with those customers is different. So leveraging the infrastructure we have is, I think, a big part of that. So there's a big cost element. We made the investments I think we need to make. Certainly, China and the investments we made back in 2016 and 2017 to build infrastructure to support the China business is great for us now, and we're seeing scale on that. With some of the regionalization dynamics that are out there, if you see new fabs popping up, we have to build that capability in some new places.

因此，能夠利用我們的基礎設施，現在的市場進入方式就不同了。我們與這些客戶的互動方式是不同的。因此，我認為，利用我們現有的基礎設施是其中很重要的一部分。因此，成本因素很大。我認為我們進行了需要進行的投資。當然，我們在 2016 年和 2017 年為支持中國業務而進行的基礎設施建設投資對我們來說非常有利，而且我們正在看到其規模化發展。隨著一些區域化動態的出現，如果你看到新的晶圓廠出現，我們必須在一些新的地方建立這種能力。

We think those are great opportunities for us because our customers rely on us to help bring those kinds of facilities up and to bring our capability to help them do that. And so whenever they're building a new fab in a new geography, it creates a big opportunity for KLA. We're working on remote diagnostics, remote capabilities. So we can do a lot more diagnosis of tool problems from back here, from the factory or from our development teams, depending on what's happening. One of the challenges in COVID, obviously, has been getting people in and out when we have an escalation situation.

我們認為這對我們來說是絕佳的機會，因為我們的客戶依靠我們來幫助建立這些設施，並利用我們的能力來幫助他們做到這一點。因此，每當他們在新的地區建造新的工廠時，都會為 KLA 創造巨大的機會。我們正在研究遠端診斷和遠端功能。因此，根據發生的情況，我們可以從這裡、從工廠或從我們的開發團隊對工具問題進行更多的診斷。顯然，新冠疫情的挑戰之一是，當疫情升級時，如何讓人們進出。

So I think those are the kinds of areas that we're investing. And it's a great opportunity for us just in terms of growth, given the strength of the WFE, but also the lengthening of lifetime on the tools and how customers are using that from a utilization point of view.

所以我認為這些就是我們正在投資的領域。考慮到 WFE 的實力，這對我們來說是一個很好的成長機會，同時也延長了工具的使用壽命，以及從利用率的角度來看客戶如何使用它。

Yes. And then the biggest investment really right now is in the workforce to support that. And so as Bren mentioned, we're working on that. I think that hiring, training, on-boarding as we anticipate the continued growth, is an area we've done well with. But as you know, there's a big demand for talent out there. So we have to keep on it, keep hiring and doing that training. So that's probably the biggest area of investment over time is going to be the workforce.

是的。目前最大的投資實際上是對支持這一目標的勞動力的投資。正如布倫所提到的，我們正在努力實現這一目標。我認為，正如我們預期的持續成長一樣，招募、培訓和入職是我們做得很好的領域。但正如你所知，市場對人才的需求很大。所以我們必須堅持下去，繼續招募和培訓。因此，從長遠來看，最大的投資領域可能是勞動力。

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

我們將回答瑞銀的 Timothy Arcuri 提出的下一個問題。

I had 2 clarifications, Bren, and then I had a real question. The first 2 clarifications are, the comment you made about 15% half-on-half. That was a corporate revenue comment. Somebody attached that to Process Control Systems. But I don't think -- I think your Process Control Systems comment was up like mid-30s, high 30s to 40% for the year. That half-on-half comment was a corporate revenue comment, correct?

布倫，我有兩點澄清，然後我有一個真正的問題。前兩個澄清是，您關於 15% 一半對一半的評論。這是有關企業收入的評論。有人將其附加到過程控制系統。但我不認為——我認為您對製程控制系統的評論今年上漲了 30% 左右，30% 到 40%。那個半對半的評論是有關公司收入的評論，對嗎？

That's correct. Yes. And I attempted to clarify that in 1 of the earlier questions. But yes, you're right. That's the total company aggregate revenue expectation second half versus first half, mid-teens.

沒錯。是的。我試圖在之前的一個問題中澄清這一點。但是的，你是對的。這是對公司下半年總收入的預期，而上半年則為十五六歲。

Perfect. And then the second clarification, did you say that domestic China is 25% of your Process Control Systems revenue? Because WFE, it's like 15% of total WFE.

完美的。然後第二個澄清，您是否說過中國國內佔您製程控制系統收入的 25%？因為 WFE 大約佔總 WFE 的 15%。

Yes, in the quarter that we just completed.

是的，在我們剛完成的這個季度。

Okay. Okay. Got it. Okay. Okay. Okay, so for my real question, I guess. So I wanted to ask about actinic. And it's always really been tiered to high NA for EUV. Otherwise, you use the 8XX. And now you have the big microprocessor maker that's now pushing more aggressively on High-NA. So are you going to accelerate your development time line for actinic?

好的。好的。知道了。好的。好的。好的，我想這就是我真正的問題了。所以我想問一下有關光化性的問題。而且對於 EUV 來說，它一直是高 NA 的分層。否則，您使用 8XX。現在，大型微處理器製造商正在更積極地推動 High-NA 的發展。那麼，您會加快光化學的開發時間表嗎？

Yes, Tim, it's a great question. We feel confident that we will have the capability we need when it's needed for the high NA. So I understand what your question is. We believe that with the products that we have, with the 8XX in particular, and actually, the continued capability we're seeing in 6XX, we feel that we will be there when the market is needed for the high NA.

是的，提姆，這是一個很好的問題。我們相信，當需要高 NA 時，我們將擁有所需的能力。所以我明白你的問題是什麼。我們相信，憑藉我們現有的產品，特別是 8XX，以及我們在 6XX 中看到的持續能力，當市場需要高 NA 時，我們就會在那裡。

And to also clarify on the China statement. So that's of the Semiconductor Process Control segment, which includes the service was 25% of the revenue in the June quarter.

並澄清有關中國的聲明。這就是半導體過程控制部門，其中包括服務，佔 6 月季度收入的 25%。

Ah, I see, including service. Okay, Bren.

啊，我明白了，包括服務。好的，布倫。

And we will 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。

I'm curious if, let's say, hypothetically, WFE is $90 million or $100 billion next year, are you prepared to support that, right, from your capacity perspective? Or I guess a different way of asking the question is how much additional capacity are you planning to bring online next year?

我很好奇，假設明年 WFE 達到 9000 萬美元或 1000 億美元，從產能角度來看，您是否準備好支持這一點？或者我想換一種問法，那就是您計劃明年上線多少額外容量？

Yes. Vivek, that's an interesting question. And right now, what we're trying to do is ramp up and to support the customer demand that we have and I have expectations for incremental capacity as we move forward. Now I feel like these are good investments to make for us over the long run, given our expectations for multiyear growth in WFE. I think given the strength of the WFE investments and some of the end market drivers that we're talking about that we would expect to see WFE grow over the next few years, at least in line with semiconductor revenue with rising capital intensity probably faster than that.

是的。Vivek，這是一個有趣的問題。現在，我們正在努力提高產量並滿足客戶的需求，我期望隨著我們前進，產能能夠不斷增加。現在我覺得，考慮到我們對 WFE 多年成長的預期，從長遠來看，這些都是對我們有利的投資。我認為，鑑於 WFE 投資的實力以及我們正在談論的一些終端市場驅動因素，我們預計 WFE 在未來幾年內會成長，至少與半導體收入保持一致，而資本密集度的上升速度可能更快。

So these investments and given the extendability of our platforms and the lifetime of our tools in terms of how we're shipping to a very broad demand environment from a technology point of view, that these are investments that are important for us in terms of just being able to support that kind of environment moving forward, sort of a through-cycle over time statement. But we're continuing to invest and make sure that we have the flexibility to be able to respond to our customer demand.

因此，考慮到我們平台的可擴展性和工具的使用壽命，從技術角度來看，我們如何將產品運送到非常廣泛的需求環境，這些投資對我們來說非常重要，因為我們能夠支持這種環境向前發展，這是一個貫穿整個週期的聲明。但我們仍在繼續投資，並確保我們能夠靈活地滿足客戶的需求。

So I think that's -- as I look at it right now in terms of the first half of the year in terms of expectations, hard for me to see how -- it's at least as strong as what we've seen in the second half of '21 in terms of what we see in the funnel and our backlog in terms of how we're managing it. I don't want to make any statements much beyond that.

因此，我認為 — — 就我現在對上半年的預期而言，我很難看出 — — 就我們在漏斗中看到的情況和我們如何管理積壓的情況而言，它至少和我們在 2021 年下半年看到的一樣強勁。除此之外我不想發表任何聲明。

I think the 1 thing I would add is we are cognizant of our customers' desire to get more capabilities sooner. And we're doing everything we can to size it. But the numbers you've talked about, we have contemplated in our plans.

我想補充的一點是，我們意識到客戶希望盡快獲得更多功能。我們正在盡一切努力擴大其規模。但是您談到的數字，我們已經在計劃中考慮過了。

Maybe a quick follow-up, if I can. At what point do you sense that because of all the headlines around the capacity crunch, you have players who are now trying to become foundries on their own, that there is a pull forward of demand. At what -- what's on your dashboard to tell you that whatever you're shipping, right, that the utilization levels are quite high, and it's not just customers scrambling to add more capacity. Like do you track what the usage is of the equipment that you ship?

如果可以的話，也許可以快速跟進。在什麼時候您感覺到，由於有關產能緊縮的所有頭條新聞，有些參與者現在正試圖自己成為代工廠，並且需求有所提前。您的儀表板上顯示什麼來告訴您，無論您運送什麼，利用率都相當高，而不僅僅是客戶爭相增加更多容量。例如，您是否追蹤所運送設備的使用情況？

Yes. Of course, we track the usage. I mean, that's a metric that we're looking at all the time. But I would back up a little bit and say that the industry actually has a self-governing mechanism in it, which is the ability of all the equipment companies to ramp to the demand. And right now, when you talk to customers, they would take more shipments, I think, from everyone if they could get them sooner. So there's a natural governance, and I'm sure you heard ASML talk about EUV through 2022. So it's naturally governed by that. So I don't -- I think we're -- we're in a good place for a sustained run at this point.

是的。當然，我們會追蹤使用情況。我的意思是，這是我們一直在關注的指標。但我想稍微回顧一下，這個行業其實有一個自我管理機制，就是所有設備公司都有能力滿足需求。現在，當你與客戶交談時，我認為，如果他們能更快收到貨物，他們會從每個人那裡接收更多的貨物。因此存在著自然的治理，我相信您已經聽過 ASML 談論 2022 年的 EUV 了。因此它自然受其支配。所以我認為，我們目前處於一個有利於持續發展的良好狀態。

Thanks, Vivek. Britney, we have time, it looks like for 1 last question.

謝謝，維韋克。布蘭妮，我們還有時間，看起來只能問最後一個問題了。

And we will take our final question from Sidney Ho with Deutsche Bank.

我們將回答德意志銀行的 Sidney Ho 提出的最後一個問題。

Great. So speaking of this multiyear investment plans that you just talked about. There -- obviously, there's a lot of new fabs being announced in the past few months. When do you expect those new fab investment to start generating revenue for you? And when do you expect to start seeing those orders coming in?

偉大的。說到您剛才談到的多年投資計畫。顯然，過去幾個月有許多新晶圓廠宣布落成。您預計這些新晶圓廠投資何時能開始為您帶來收入？您預計什麼時候會開始收到這些訂單？

Well, in a lot of cases, we've already seen the orders, right? So I think that customers are getting into the queue for deliveries. And then some products, deliveries could be 12 months from now. So it's absolutely happening and customers are trying to make those commitments as they're planning for their facilities. Obviously, they plan across a lot of different types of equipment. And so those planning cycles tend to move around a little bit. Sometimes they're also dependent on winning business and product ramps and so on. So there's always a little bit of variability around the timing.

嗯，在很多情況下，我們已經看到了訂單，對吧？所以我認為顧客正在排隊等待送貨。有些產品的交付可能要等到 12 個月後。所以這絕對是正在發生的，客戶在規劃他們的設施時也正在努力做出這些承諾。顯然，他們計劃涉及許多不同類型的設備。因此這些規劃週期往往會發生一些變化。有時他們也依賴贏得業務和產品提升等等。因此時間上總是存在一些變化。

And then, of course, generally, as you're trying to build something, there's always infrastructure and delays and pull-ins that can happen associated with just construction overall. But yes, we're absolutely seeing that demand in the backlog and certainly in the sales funnel.

當然，一般來說，當你試圖建造某些東西時，總是會遇到與整體建設相關的基礎設施、延誤和拉入問題。但是的，我們確實在積壓訂單和銷售管道中看到了這種需求。

Okay. Great. Maybe my follow-up. It's a lot of questions on the process -- Semi Process Control side. But on the EPC business, is 15% growth for this year still a realistic assumption given the strength in auto and 5G? And maybe you can talk about with or without the display side of things.

好的。偉大的。也許是我的後續行動。關於過程－半過程控制方面存在著許多問題。但就 EPC 業務而言，考慮到汽車和 5G 的強勁表​​現，今年 15% 的成長率仍然是現實的假設嗎？也許您可以討論一下有或沒有顯示方面的問題。

Yes, including display, we're in the high teens for that business. So we're seeing strength there. Displays, about as we expected, and we're seeing strength I mentioned earlier about component inspection. Specialty Semiconductor is also seeing strength. PCB is ahead of plan a little bit. So I think that's moving along. Obviously, it's very tied to mobility, 5G. So yes, we're seeing that tick up in terms of expectations for growth out of that product group.

是的，包括展示在內，我們的業務收入已經達到了十數億美元。所以我們在那裡看到了力量。顯示器，正如我們預期的那樣，我們看到了我之前提到的關於組件檢查的優勢。特種半導體也表現強勁。PCB 比計劃稍微提前了一點。所以我認為這正在順利進行中。顯然，它與移動性、5G 密切相關。所以是的，我們看到對該產品組的成長預期有所上升。

I would now like to turn the program back over to Kevin Kessler -- Kessel, I apologize, for any additional or closing remarks.

現在我想將節目交還給凱文·凱斯勒——凱塞爾，對於任何補充或結束語，我深表歉意。

Thank you very much, and wanted to thank everybody for their time, their interest and their questions. We will be in touch. Take care.

非常感謝，也感謝大家的時間、興趣和提問。我們將保持聯繫。小心。

This concludes today's KLA Corporation June quarter 2021 post earnings call. Please disconnect your line at this time. Have a wonderful day.

今天的 KLA Corporation 2021 年 6 月季度收益電話會議到此結束。此時請斷開您的線路。祝您有美好的一天。