科磊 (KLAC) 2022 Q3 法說會逐字稿

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

下午好。我的名字是大衛，今天我將成為您的會議接線員。在這個時候，我想歡迎大家參加 KLA Corporation 2022 年 3 月季度收益電話會議和網絡直播。 （操作員說明）

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

我現在將把電話轉給投資者關係和市場分析副總裁 Kevin Kessel。請繼續。

Thank you, and welcome to KLA's fiscal Q3 2022 quarterly earnings call to discuss the results of the March quarter and the outlook for the June quarter.

謝謝，歡迎參加 KLA 的 2022 財年第三季度財報電話會議，討論 3 月季度的業績和 6 月季度的前景。

Joining me today is Rick Wallace, our Chief Executive Officer; and Bren Higgins, our Chief Financial Officer.

今天加入我的是我們的首席執行官 Rick Wallace；和我們的首席財務官 Bren Higgins。

During this call, we will discuss the results released today after the market close. You can find the press release, shareholder letter, slide deck and infographic, all on our KLA IR website.

在本次電話會議中，我們將討論今天收市後公佈的結果。您可以在我們的 KLA IR 網站上找到新聞稿、股東信函、幻燈片和信息圖表。

Today's discussion is presented on a non-GAAP financial basis, unless otherwise specified. And whenever references are made to full-year business performance, they are on a calendar year basis. A detailed reconciliation of GAAP to non-GAAP results are 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，今天的討論是在非公認會計原則財務基礎上提出的。每當提及全年業務績效時，它們都是以日曆年為基礎的。 GAAP 與非 GAAP 結果的詳細核對見我們網站上發布的收益材料。我們的投資者關係網站還包含未來的投資者活動以及演示文稿、公司治理信息和我們向 SEC 提交的文件的鏈接，包括我們最近的年度報告和關於表格 10-K 和 10-Q 的季度報告。

I would also like to take this opportunity to remind investors and analysts to sign up for our June 16 Investor Day taking place in New York. If you didn't receive an e-mail invitation, please reach out to the KLA IR team, and we will get you one.

我還想藉此機會提醒投資者和分析師報名參加 6 月 16 日在紐約舉行的投資者日。如果您沒有收到電子郵件邀請，請聯繫 KLA IR 團隊，我們會給您一份。

Our comments today are subject to risks and uncertainties reflected in the Risk Factors 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我們提交給美國證券交易委員會的風險因素披露中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做出的陳述，也都受到這些風險的影響。 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我們在前瞻性陳述中預測的結果大不相同。

I'd like to now turn the call over to our CEO, Rick Wallace. Rick?

我現在想把電話轉給我們的首席執行官里克·華萊士。瑞克？

Thanks, Kevin.

謝謝，凱文。

Before getting into KLA's results in more detail, I want to acknowledge and thank the global KLA team. Their perseverance and drive to be better remains at the center of our consistent execution and outperformance. You have remained focused despite challenging macro and supply chain conditions as our high-performing teams that drove KLAs indispensability to customers, resulting in additional process control market share growth for the recently ended year.

在更詳細地了解 KLA 的結果之前，我要感謝並感謝全球 KLA 團隊。他們的毅力和追求更好的動力仍然是我們始終如一的執行和出色表現的核心。儘管具有挑戰性的宏觀和供應鏈條件，您仍然保持專注，因為我們的高績效團隊推動 KLA 對客戶不可或缺，從而在最近結束的一年中實現了額外的過程控制市場份額增長。

KLA's March quarter results demonstrate strong execution across multiple areas of our business in a persistently challenging supply chain environment, delivering revenue, GAAP and non-GAAP earnings per share above the midpoint of the guidance ranges for the quarter.

KLA 的 3 月份季度業績表明，在持續充滿挑戰的供應鏈環境中，我們業務的多個領域都表現出色，實現了高於本季度指導範圍中點的收入、GAAP 和非 GAAP 每股收益。

We once again displayed strong execution across multiple areas of our business. Our focus on consistently meeting commitments and delivering on our long-term strategic objectives and financial targets is the hallmark for which KLA is known and the standard by which we measure our success.

我們再次在業務的多個領域展示了強大的執行力。我們專注於始終如一地履行承諾並實現我們的長期戰略目標和財務目標，這是 KLA 眾所周知的標誌，也是我們衡量成功的標準。

Customer demand across major product groups continues to build as secular trends drive broad-based growth across a range of markets and applications served by the semiconductor industry. This robust demand has been putting pressure on the industry's ability to supply semiconductors.

隨著長期趨勢推動半導體行業服務的一系列市場和應用的廣泛增長，主要產品組的客戶需求不斷增加。這種強勁的需求一直給該行業的半導體供應能力帶來壓力。

Simultaneously, our leading-edge customers are increasing their strategic CapEx investment to improve their competitive positioning while addressing growth in markets that demand new leading-edge semiconductor capabilities. Against this rising demand backdrop, KLA has remained focused on responding to evolving customer needs and navigating supply chain challenges.

同時，我們的領先客戶正在增加他們的戰略資本支出投資，以提高他們的競爭地位，同時滿足需要新的領先半導體能力的市場的增長。在這種不斷增長的需求背景下，KLA 一直專注於響應不斷變化的客戶需求和應對供應鏈挑戰。

Very important that KLA continues to operate with purpose and precision so we can create value for our customers, partners and shareholders by outperforming expectations. Our talented global teams both run and improve the KLA operating model and use it as a critical guide to rise to the challenges and opportunities of the evolving marketplace.

非常重要的是，KLA 繼續以目標和精確的方式運營，這樣我們才能通過超越預期為我們的客戶、合作夥伴和股東創造價值。我們才華橫溢的全球團隊運行和改進 KLA 運營模式，並將其用作應對不斷變化的市場挑戰和機遇的關鍵指南。

The market leader in process control, one of the fastest-growing segments of the overall WFE market, KLA remains in a position of strength when we look at the industry demand landscape. Semiconductor industry has evolved to be more significantly strategic and has an increasingly less cyclical end-market mix, with many fundamental drivers advancing the critical nature of semiconductors throughout the global economy.

作為整個 WFE 市場增長最快的細分市場之一的過程控制市場領導者，當我們審視行業需求格局時，KLA 仍然處於強勢地位。半導體行業已發展為更具戰略意義，並且終端市場組合的周期性越來越小，許多基本驅動因素推動了半導體在全球經濟中的關鍵性質。

Factors such as the continuing advancement of technology at the leading edge, increasing investment in legacy nodes, and innovation and growth of new enabling technologies such as advanced packaging, are fueling long-term growth for the semiconductor industry and for equipment and capabilities that make it possible.

前沿技術的持續進步、對傳統節點的投資增加以及先進封裝等新使能技術的創新和增長等因素正在推動半導體行業以及製造它的設備和能力的長期增長可能的。

Despite persistent supply challenges and macro headwinds, our outlook for the WFE industry this year remains intact, albeit with an expectation for a stronger second half than anticipated in January. We expect WFE demand to top $100 billion this calendar year, making it the third consecutive year of double-digit growth.

儘管持續存在供應挑戰和宏觀逆風，但我們對今年 WFE 行業的前景保持不變，儘管預計下半年將比 1 月份的預期更強勁。我們預計本日曆年 WFE 需求將超過 1000 億美元，連續第三年實現兩位數增長。

KLA's expected growth in calendar 2022 will mark the seventh consecutive year of growth. This sustained strength in customer demand is happening in an environment of increasing momentum for process control where KLA's market leadership has strengthened further, and our market share results remain 4x our nearest competitor.

KLA 在 2022 年的預期增長將是連續第七年增長。這種持續增長的客戶需求正發生在過程控制勢頭不斷增強的環境中，KLA 的市場領導地位進一步加強，我們的市場份額結果仍然是最接近競爭對手的 4 倍。

KLA's expanding lead is the result of our #1 market position in some of the fastest-growing segments in WFE that have a market size greater than $1 billion in terms of annual revenue. We attribute KLA's strengthening market leadership to our ongoing successful execution of the company's customer-focused strategies, including investing at a high level to drive differentiation with a unique portfolio of products and technologies that address the most critical process control challenges in the marketplace and help our customers drive their growth strategy.

KLA 不斷擴大的領先優勢是我們在 WFE 中一些增長最快的細分市場中排名第一的結果，這些細分市場的年收入規模超過 10 億美元。我們將 KLA 不斷加強的市場領導地位歸功於我們持續成功地執行公司以客戶為中心的戰略，包括通過獨特的產品和技術組合進行高水平投資以推動差異化，這些產品和技術解決了市場上最關鍵的過程控制挑戰並幫助我們客戶推動他們的增長戰略。

We're pleased to see the success of our strategies validated by our customers' purchasing decisions and reflected in the April 2022 Gartner market share report, showing KLA's market leadership advancement. This emphasizes the power of the portfolio strategy we employ.

我們很高興看到我們戰略的成功得到了客戶的採購決策的驗證，並反映在 2022 年 4 月的 Gartner 市場份額報告中，顯示了 KLA 的市場領先地位。這強調了我們採用的投資組合策略的力量。

The recently published Gartner market share report shows process control was one of the fastest-growing segments of WFE in 2021, growing 43% in the year to $10.4 billion. KLA's share of process control grew approximately 1 percentage point to over 54% and has increased over 3 percentage points since 2018 and remains greater than 4x our nearest competitor across all regions.

最近發布的 Gartner 市場份額報告顯示，過程控制是 2021 年 WFE 增長最快的部分之一，全年增長 43%，達到 104 億美元。 KLA 的過程控制份額增長了約 1 個百分點，達到 54% 以上，自 2018 年以來增長了 3 個百分點以上，在所有地區仍然是我們最接近的競爭對手的 4 倍以上。

Within process control, the optical inspection market grew to approximately $2.5 billion in annual sales, outpacing WFE by 40%, and our share of this market remained above 80%. Other highlights demonstrate the power of KLA's portfolio strategy in delivering strong growth in other critical process control markets, including metrology, macro inspection and very strong growth in e-beam review.

在過程控制領域，光學檢測市場的年銷售額增長到約 25 億美元，比 WFE 高出 40%，我們在該市場的份額保持在 80% 以上。其他亮點展示了 KLA 的投資組合戰略在其他關鍵過程控制市場實現強勁增長的力量，包括計量、宏觀檢查和電子束審查的強勁增長。

Turning now to the top 5 highlights for the March 2022 quarter. First, KLA's market leadership in some of the most critical and fastest-growing markets in WFE continues to fuel growth. We remain nimble and innovative in addressing global supply challenges to meet customer requirements and our financial targets.

現在轉向 2022 年 3 月季度的前 5 大亮點。首先，KLA 在 WFE 一些最關鍵和增長最快的市場中的市場領導地位繼續推動增長。我們在應對全球供應挑戰以滿足客戶要求和我們的財務目標方面保持靈活和創新。

Foundry and Logic, simultaneous investments across multiple nodes and rising capital intensity remain a tailwind. In memory, demand is broad-based across multiple customers.

Foundry 和 Logic、跨多個節點的同時投資和不斷上升的資本密集度仍然是一個順風。在內存中，需求廣泛分佈於多個客戶。

Second, our optical metrology business stood out in the March quarter, driven by KLA's market leadership and increasing customer adoption of market applications and leading-edge technology development and capacity monitoring. Optical metrology market is strongly leveraged to EUV and critical next-generation architectures, including gate-all-around and multi-stack 160-plus layer 3D NAND. This was further illustrated in the new Gartner market share report, which showed 50% growth in 2021.

其次，我們的光學計量業務在 3 月份季度表現出色，這得益於 KLA 的市場領導地位以及客戶對市場應用的日益採用以及領先的技術開發和容量監控。光學計量市場在 EUV 和關鍵的下一代架構中得到了強有力的利用，包括環柵和多堆棧 160 層以上的 3D NAND。 Gartner 新的市場份額報告進一步說明了這一點，該報告顯示 2021 年增長了 50%。

Third, KLA is intensifying our efforts in advanced packaging and automotive electronics, leveraging the combined portfolio of both the SPC and EPC groups. KLA is broadening our product portfolio and delivering a comprehensive suite of products and technologies that include wafer-level packaging and final assembly and test products for advanced packaging markets, and a portfolio of inspection systems and process tools designed to help customers achieve their 0 defect goals.

第三，KLA 正在加強我們在先進封裝和汽車電子領域的努力，利用 SPC 和 EPC 集團的組合產品組合。 KLA 正在擴大我們的產品組合併提供一整套產品和技術，包括面向先進封裝市場的晶圓級封裝和最終組裝和測試產品，以及旨在幫助客戶實現零缺陷目標的檢測系統和工藝工具組合.

These collaborations continue to grow with KLA recording our highest-ever customer engagement in terms of wafer inspection revenue for automotive applications in the March quarter.

這些合作繼續增長，KLA 在 3 月季度汽車應用晶圓檢測收入方面記錄了我們有史以來最高的客戶參與度。

Fourth, services revenue was $488 million, up 14% year-over-year. The company tallied a record 349 installs in the March quarter, well above the previous high of 293. This was a remarkable achievement given travel restrictions in Asia, lockdowns related to COVID-19 and complexities related to the supply -- current supply environment.

第四，服務收入為 4.88 億美元，同比增長 14%。該公司在 3 月季度的安裝量達到創紀錄的 349 次，遠高於之前的高點 293 次。考慮到亞洲的旅行限制、與 COVID-19 相關的封鎖以及與供應相關的複雜性——當前的供應環境，這是一項了不起的成就。

Service revenue is consistently outperforming the 9% to 11% long-term growth target, driven by growing installed base, increasing customer adoption of long-term service agreements, higher utilization rates, and expansion of service opportunities in the legacy nodes.

服務收入持續超過 9% 至 11% 的長期增長目標，這得益於不斷增長的安裝基數、客戶對長期服務協議的採用率不斷提高、利用率提高以及傳統節點服務機會的擴大。

Finally, the March quarter was another exceptional period from the free cash flow perspective. We generated quarterly free cash flow of $719 million for 23% year-over-year growth. We've also remained focused on returning capital to shareholders via our dividend and stock repurchase programs, both of which are up materially year-over-year, including a $565 million of quarterly share repurchases and an additional $159 million in dividends in the March quarter.

最後，從自由現金流的角度來看，3 月季度是另一個特殊時期。我們產生了 7.19 億美元的季度自由現金流，同比增長 23%。我們還一直專注於通過我們的股息和股票回購計劃向股東返還資本，這兩項計劃均同比大幅增長，其中包括 5.65 億美元的季度股票回購和 3 月季度額外的 1.59 億美元股息.

Before passing the call over to Bren to review the financial highlights and guidance, let me summarize briefly. KLA's March quarter demonstrates sustained outperformance, highlighting the critical nature of KLA's products and services and enabling the digital transformation of our lives.

在將電話轉給布倫審查財務亮點和指導之前，讓我簡要總結一下。 KLA 的 3 月季度表現出持續的優異表現，突出了 KLA 產品和服務的關鍵性質，並實現了我們生活的數字化轉型。

Our consistent strong execution against significant challenges in the marketplace, both in terms of meeting rising demand and addressing persistent supply issues highlights the resiliency of the KLA operating model and our commitment to productive capital allocation.

在滿足不斷增長的需求和解決持續供應問題方面，我們始終如一地強有力地應對市場上的重大挑戰，這凸顯了 KLA 運營模式的彈性和我們對生產性資本分配的承諾。

KLA is exceptionally positioned at the forefront of technology innovation with a comprehensive portfolio of products to meet demanding customer requirements, balancing sensitivity and throughput. Semiconductor and electronics landscape are constantly changing, and we continue to see more customer interest driven by technology change than ever before at the leading edge.

KLA 處於技術創新的最前沿，擁有全面的產品組合，可滿足苛刻的客戶要求，平衡靈敏度和吞吐量。半導體和電子領域不斷變化，我們繼續看到技術變革推動的客戶興趣比以往任何時候都處於領先地位。

Simultaneously, the need for increasing performance and reliability requirements for legacy nodes to support evolving markets like automotive and 5G are also important to help deliver new capabilities. We believe KLA will continue to benefit from numerous secular growth factors that drive long-term industry demand. At the same time, our strategy of driving diversified growth with strong long-term operating leverage should provide durable free cash flow generation and consistent capital returns to our shareholders.

同時，提高傳統節點的性能和可靠性要求以支持汽車和 5G 等不斷發展的市場對於幫助提供新功能也很重要。我們相信 KLA 將繼續受益於推動行業長期需求的眾多長期增長因素。與此同時，我們以強大的長期經營槓桿推動多元化增長的戰略應該為我們的股東提供持久的自由現金流和持續的資本回報。

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

有了這個，我會把電話轉給布倫。

Thanks, Rick.

謝謝，瑞克。

Our results reinforce the success of our execution and strong market position. We continue to focus on meeting customer needs in a robust demand environment while expanding market leadership, growing revenue, increasing gross and operating profit, generating strong free cash flow and maintaining our long-term strategy of productive capital allocation.

我們的業績鞏固了我們執行的成功和強大的市場地位。我們繼續專注於在強勁的需求環境中滿足客戶需求，同時擴大市場領導地位、增加收入、增加毛利潤和營業利潤、產生強勁的自由現金流並維持我們生產性資本配置的長期戰略。

Quarterly revenue was $2.289 billion at the upper end of the guided range of $2.1 billion to $2.3 billion. Non-GAAP gross margin was above the midpoint of guidance at 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.

季度收入為 22.89 億美元，處於 21 億美元至 23 億美元指導範圍的上限。非 GAAP 毛利率高於指導中點 62.9%，因為各種組件的表現大多符合預期，上行來自高於預期的半導體過程控制系統收入，這增強了本季度的產品組合。

Non-GAAP diluted EPS was $5.13, also towards the upper end of the guided range of $4.35 to $5.25. GAAP diluted EPS was $4.83. Non-GAAP operating expenses were $484 million, below our expectation of $495 million, mostly due to the pace of new hiring, which was slower than originally planned. Total operating expenses were comprised of $285 million in R&D and $199 million in SG&A.

非 GAAP 攤薄後每股收益為 5.13 美元，也接近 4.35 至 5.25 美元的指導範圍的上限。 GAAP 攤薄後每股收益為 4.83 美元。非美國通用會計準則運營費用為 4.84 億美元，低於我們預期的 4.95 億美元，主要是由於新招聘的步伐慢於原計劃。總運營費用包括 2.85 億美元的研發費用和 1.99 億美元的 SG&A。

Given the strong demand backdrop, rapid expansion of our business over the last couple of years and our revenue expectations for the business going forward, we expect to continue to invest in our global infrastructure and systems to scale the KLA operating model to facilitate growth. This includes investing in new product development programs and volume-dependent resources to support our business expansion as we position the company to execute against our long-term structural growth thesis.

鑑於強勁的需求背景、過去幾年我們業務的快速擴張以及我們對未來業務的收入預期，我們預計將繼續投資於我們的全球基礎設施和系統，以擴展 KLA 運營模式以促進增長。這包括投資於新產品開發計劃和依賴數量的資源，以支持我們的業務擴張，因為我們將公司定位為執行我們的長期結構增長論點。

Furthermore, we, as most companies, are seeing a strong labor market driving cost pressure across our global workforce and adjustments related to our annual merit process that went into effect during March. As a result, we expect operating expenses to grow to approximately $525 million in the June quarter, and we forecast quarterly operating expenses to trend higher over the balance of 2022, along with our sequential revenue growth expectations.

此外，與大多數公司一樣，我們看到強大的勞動力市場推動了我們全球勞動力的成本壓力，以及與 3 月生效的年度績效評估流程相關的調整。因此，我們預計 6 月季度的運營費用將增長至約 5.25 億美元，並且我們預計季度運營費用將在 2022 年剩餘時間內呈上升趨勢，同時我們對連續收入增長的預期也是如此。

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 our normalized time horizon.

我們繼續根據我們的目標運營模式調整公司規模，該模式在我們的正常時間範圍內為收入增長提供 40% 至 50% 的營業利潤率槓桿增量。

Non-GAAP operating income as a percentage of revenue was once again strong at 41.7% in the March quarter. Other income and expense net was $46 million compared with guidance of $41 million, with the variance from guidance reflecting the mark-to-market impact of a strategic supply investment.

非美國通用會計準則營業收入佔收入的百分比在 3 月季度再次強勁，達到 41.7%。其他收入和支出淨額為 4600 萬美元，而指引為 4100 萬美元，與指引的差異反映了戰略供應投資的按市值計價的影響。

For the June quarter, we forecast other income and expense net at approximately $43 million. The quarterly effective tax rate was 14.6%, above our guided tax rate of 13.5%. Non-GAAP earnings per share at the guided tax rate would have been $5.20. Non-GAAP net income was $776 million. GAAP net income was $731 million. Cash flow from operations was $819 million. And free cash flow was $79 million, resulting in free cash flow conversion of 93% and free cash flow margin of 31.4%.

對於六月季度，我們預計其他收入和支出淨額約為 4300 萬美元。季度有效稅率為 14.6%，高於我們 13.5% 的指導稅率。按指導稅率計算的非 GAAP 每股收益為 5.20 美元。非美國通用會計準則淨收入為 7.76 億美元。 GAAP 淨收入為 7.31 億美元。運營現金流為 8.19 億美元。自由現金流為 7900 萬美元，自由現金流轉換率為 93%，自由現金流利潤率為 31.4%。

Looking at revenue by reportable segments and end markets. Revenue for the Semiconductor Process Control segment, including its associated service business, was $1.98 billion, up 31% year-over-year and down 4% sequentially as expected. The approximate Semiconductor Process Control system customer segment mix for foundry logic customers was approximately 63%. Memory was approximately 37%, with a further breakdown comprised of 26% from DRAM customers and 11% from NAND.

按可報告細分市場和終端市場查看收入。半導體過程控制部門（包括其相關服務業務）的收入為 19.8 億美元，同比增長 31%，環比下降 4%，符合預期。晶圓代工邏輯客戶的半導體過程控制系統客戶細分組合約為 63%。內存約佔 37%，進一步細分為 26% 來自 DRAM 客戶，11% 來自 NAND。

Revenue for our EPC group continues to be driven by strength in automotive, 5G and advanced packaging. Within EPC, the specialty semiconductor process segment, which includes its associated service business, generated revenue of $117 million, up 28% over the prior year and up 4% sequentially. PCB, Display and Component Inspection revenue was $193 million, down 6% year-over-year and up 2% on a sequential basis.

我們 EPC 集團的收入繼續受到汽車、5G 和先進封裝實力的推動。在 EPC 中，包括其相關服務業務在內的專業半導體工藝部門創造了 1.17 億美元的收入，比上年增長 28%，環比增長 4%。 PCB、顯示器和組件檢測收入為 1.93 億美元，同比下降 6%，環比增長 2%。

For an additional breakdown of revenue by major products in region, please see the shareholder letter and slides.

如需按地區主要產品劃分的其他收入明細，請參閱股東信函和幻燈片。

In terms of the balance sheet, KLA ended the quarter with $2.6 billion in total cash, debt of $3.7 billion and a flexible and attractive bond maturity profile supported by strong investment-grade ratings from all 3 agencies.

在資產負債表方面，KLA 在本季度末的總現金為 26 億美元，債務為 37 億美元，債券期限靈活且有吸引力，得到所有 3 家機構的強大投資級評級的支持。

We have growing confidence in our business over the long run and are committed to a consistent strategy of cash returns to shareholders that enables growing dividends and increased share repurchases.

從長遠來看，我們對我們的業務越來越有信心，並致力於為股東提供一致的現金回報戰略，以實現增長的股息和增加的股票回購。

Over the long term, we target returning at least 70% of free cash flow generated. Our capital return strategy underscores our strong record of predictable and productive capital deployment and remains an important differentiating element of the KLA investment thesis.

從長遠來看，我們的目標是返還至少 70% 的自由現金流。我們的資本回報戰略強調了我們在可預測和生產性資本部署方面的良好記錄，並且仍然是 KLA 投資主題的重要差異化元素。

Over the last 12 months, KLA has returned $2.3 billion to shareholders, including $1.7 billion in share repurchases and $620 million in dividends paid. KLA has an impressive history of consistent free cash flow generation, high free cash flow conversion and a strong free cash flow margin across all phases of the business cycle and economic conditions.

在過去 12 個月中，KLA 已向股東返還 23 億美元，其中包括 17 億美元的股票回購和 6.2 億美元的股息支付。 KLA 在商業周期和經濟條件的所有階段都擁有持續的自由現金流生成、高自由現金流轉換和強大的自由現金流利潤率，令人印象深刻。

Turning to the outlook. Our overall semiconductor demand and WFE outlook for calendar '22 remains unchanged. We expect the WFE market to grow in the mid-teens to over $100 billion in 2022, off a higher base of approximately $87 billion in calendar '21 after assessing reported results for the December quarter.

轉向前景。我們對 22 年日曆的整體半導體需求和 WFE 前景保持不變。在評估了 12 月季度報告的結果後，我們預計 WFE 市場將在 2022 年中期增長到 1000 億美元以上，而 21 年日曆的基數約為 870 億美元。

Although based on pure company March reporting, it appears that industry supply issues will increase the loading in the second half of the year. This reflects the continued broad-based strength of demand across all customer segments. While we add capacity at KLA and with our suppliers, supply chain shortages continue to constrain our ability to meet customer demand.

雖然基於純公司 3 月份的報告，但行業供應問題似乎將增加下半年的負荷。這反映了所有客戶群的持續廣泛需求強度。雖然我們在 KLA 和我們的供應商處增加產能，但供應鏈短缺繼續限制我們滿足客戶需求的能力。

In addition, the duration and potential expansion of COVID-19-related lockdowns in China are unknown and could adversely impact some suppliers with operations in the affected areas. Furthermore, these lockdowns could delay systems installations and customer acceptance processes due to resource mobility restrictions in the country. In short, the situation is fluid and will be monitored closely.

此外，中國與 COVID-19 相關的封鎖的持續時間和潛在擴大尚不清楚，可能會對在受影響地區開展業務的一些供應商產生不利影響。此外，由於該國的資源流動性限制，這些封鎖可能會延遲系統安裝和客戶接受過程。簡而言之，情況是多變的，將受到密切監視。

Supplier visibility remains challenging and has not improved over the past 3 months. We still expect to see quarterly sequential revenue growth throughout calendar 2022 and overall revenue growth for the calendar year to exceed 20%. In addition, we believe that demand will continue to exceed supply through the remainder of the calendar year. KLA is in position to deliver another year of sustainable outperformance in our semiconductor process control business and strong relative growth overall.

供應商的可見性仍然具有挑戰性，並且在過去 3 個月中沒有改善。我們仍然預計整個 2022 年的季度收入將連續增長，整個日曆年的整體收入增長將超過 20%。此外，我們認為在本日曆年剩餘時間內，需求將繼續超過供應。 KLA 有能力在我們的半導體過程控制業務和整體強勁的相對增長中實現又一年的可持續優異表現。

Looking ahead, we remain encouraged by the strength and sustainability of our current demand profile. Our bookings momentum and strong backlog positions us to outperform WFE. As in calendar 2021, we are strategically adding capacity across our global manufacturing footprint to support this outlook and our customers' growing process control requirements.

展望未來，我們仍然對我們當前需求狀況的實力和可持續性感到鼓舞。我們的預訂勢頭和強大的積壓使我們的表現優於 WFE。與 2021 年一樣，我們正在戰略性地增加我們全球製造業務的產能，以支持這一前景和客戶不斷增長的過程控制要求。

Our June quarter guidance is as follows: Total revenue is expected to be in a range of $2.425 billion, plus or minus $125 million. Foundry logic is forecasted to be approximately 56%, and memory is expected to be approximately 44% of semiconductor process control systems revenue.

我們的 6 月季度指導如下：總收入預計在 24.25 億美元之間，上下浮動 1.25 億美元。晶圓代工邏輯預計約為 56%，存儲器預計將佔半導體工藝控制系統收入的約 44%。

Within memory, DRAM is expected to be about 66% of the segment and NAND is forecasted to be about 34%. We forecast non-GAAP gross margin to be in a range of 61.5% to 63.5% as we expect sequential growth in EPC revenue in the quarter and a slightly weaker product mix within semi process control to dilute margins modestly versus the March quarter.

在內存中，DRAM 預計將佔該細分市場的 66% 左右，NAND 預計將佔 34% 左右。我們預計非 GAAP 毛利率將在 61.5% 至 63.5% 的範圍內，因為我們預計本季度 EPC 收入將連續增長，並且半製程控制內的產品組合略弱，與 3 月季度相比將適度稀釋利潤率。

Longer term, infrastructure investments, labor cost inflation, supply chain strain and rising global logistics costs are surpassing the benefits of economies of scale normally seen in a rising revenue environment. Given expectations for revenue for the year, we continue to expect that calendar '22 gross margins will be in a range of 63%, plus or minus 50 basis points.

從長遠來看，基礎設施投資、勞動力成本膨脹、供應鏈緊張和全球物流成本上升正在超過通常在收入增長環境中看到的規模經濟帶來的好處。鑑於對今年收入的預期，我們繼續預計 22 年日曆毛利率將在 63% 的範圍內，正負 50 個基點。

Other model assumptions for the June quarter include non-GAAP operating expenses of approximately $525 million, other income and expense net of approximately $43 million and an effective tax rate of approximately 13.5%. Finally, GAAP diluted EPS is expected to be in a range of $4.60 to $5. And non-GAAP diluted EPS in a range of $4.93 to $6.03. The EPS guidance is based on a fully diluted share count of approximately 150 million shares.

六月季度的其他模型假設包括約 5.25 億美元的非公認會計原則運營費用、約 4300 萬美元的其他收入和支出淨額以及約 13.5% 的有效稅率。最後，GAAP 攤薄後每股收益預計在 4.60 美元至 5 美元之間。非 GAAP 攤薄後每股收益在 4.93 美元至 6.03 美元之間。每股收益指引是基於大約 1.5 億股的完全稀釋後的股票數量。

In closing, the secular trends driving semiconductor growth and investments in WFE are compelling despite the current macroeconomic headwinds. Broad-based customer demand and simultaneous investments across technology nodes are strong and resilient trends.

最後，儘管當前存在宏觀經濟逆風，但推動半導體增長和 WFE 投資的長期趨勢仍然引人注目。廣泛的客戶需求和跨技術節點的同步投資是強勁且有彈性的趨勢。

We have confidence in the leading indicators for our business, including our backlog and bookings visibility, which motivates 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.

我們對我們業務的領先指標充滿信心，包括我們的積壓和預訂可見性，這促使我們投資於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劃為未來的需求前景提供了穩定因素。

KLA operating model positions us well to outperform our industry and guides our important strategic objectives. These objectives fuel our growth, reliable 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 consistent capital returns to shareholders.

KLA 運營模式使我們能夠很好地超越我們的行業並指導我們的重要戰略目標。這些目標推動了我們在日益多樣化的產品和服務中的增長、可靠的卓越運營和差異化。它們也是我們持續的技術領先地位、廣泛的競爭護城河、領先的財務業績、強勁的自由現金流產生和持續的股東資本回報的長期記錄的基礎。

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

有了這個，我將把電話轉回給凱文開始問答環節。凱文？

Thank you, Bren.

謝謝你，布倫。

David, please queue for questions.

大衛，請排隊提問。

(Operator Instructions) We'll now take our first question from Harlan Sur with JPMorgan.

（操作員說明）我們現在將回答來自摩根大通的 Harlan Sur 的第一個問題。

Great job on the solid execution.

在堅實的執行方面做得很好。

As you guys pointed out, the market share numbers are out for last year. You grew your process control market share at almost 55% or well over 4x larger than your nearest competitor.

正如你們所指出的，去年的市場份額數字已經出來了。您的過程控制市場份額增長了近 55%，甚至是最接近的競爭對手的 4 倍以上。

I was looking at the data. So in the 7 major categories under process control, you have the #1 market share position in 5 of the 7 categories. And the categories where you guys actually grew 50% -- more than 50% were pattern wafer inspection, overlay and metrology, macro inspection and review and classification.

我在看數據。因此，在過程控制下的 7 個主要類別中，您在 7 個類別中的 5 個中擁有第一的市場份額。你們實際增長了 50% 的類別——超過 50% 是圖案晶圓檢測、覆蓋和計量、宏觀檢測以及審查和分類。

Obviously, all of these are very critical solutions for next-generation manufacturing technologies. So on the strong growth outlook for this year, what areas or segments do you anticipate driving the outperformance and maybe even further share gains in your process control franchise for this year?

顯然，所有這些都是下一代製造技術非常關鍵的解決方案。那麼對於今年強勁的增長前景，您預計哪些領域或細分市場將推動今年的出色表現，甚至可能進一步分享您的過程控制專營權的收益？

Yes. Harlan, I'll go ahead and start and let Rick add if he needs to here. But it was a very strong year, obviously, for the company. And we're really pleased with the share results.

是的。 Harlan，我會先開始，如果 Rick 需要，我會在這裡添加。但顯然，對於公司來說，這是非常強勁的一年。我們對共享結果感到非常滿意。

One of the things is we look at just our expectation this year is as we expect to see continued momentum in a lot of the markets that you referenced, so there's certainly strength that's expected there. We're expecting greater than market growth out of our reticle inspection business, which was a little slower than market last year, and it tends to be a lumpier business. But as we move into this year, it should be a little bit stronger.

其中一件事是，我們只關註今年的預期，因為我們預計您提到的許多市場將繼續保持勢頭，因此那里肯定有預期的實力。我們預計我們的分劃板檢測業務的增長將超過市場增長，這比去年的市場要慢一些，而且它往往是一個笨重的業務。但隨著我們進入今年，它應該會更強大一些。

So overall, we feel pretty good about the road map across our products. As we said in the prepared remarks, our biggest challenge is just getting the parts we need to meet the very strong customer demand that's out there.

所以總的來說，我們對我們產品的路線圖感覺很好。正如我們在準備好的評論中所說，我們最大的挑戰是獲得我們需要的零件來滿足非常強大的客戶需求。

But we're encouraged by the momentum we have, and our internal plan is to continue to gain share. We think there's more opportunity for us given what you said in terms of where we are.

但我們對我們所擁有的勢頭感到鼓舞，我們的內部計劃是繼續獲得份額。鑑於您所說的我們所處的位置，我們認為我們有更多的機會。

(technical difficulty) go linearly, but at the same time, we've had a nice trajectory over the last few years and would expect to see it grow as we move forward.

（技術難度）呈線性增長，但與此同時，我們在過去幾年的發展軌跡很好，並且希望隨著我們的前進看到它的增長。

Yes. Just to add a couple of things, Harlan. One is, of course, Gartner's data is revenue and the bookings picture is even stronger. So we're in really good shape in terms of that.

是的。只是補充幾件事，哈倫。其中之一當然是 Gartner 的數據是收入，而預訂情況則更為強勁。所以我們在這方面處於非常好的狀態。

We've talked about the backlog and the demand that we have. So we'll continue to see share gain in terms of -- or strength of share in the segments that you outlined. Also, the new technologies that are coming offer more process control intensity opportunities.

我們已經討論了積壓和我們的需求。因此，我們將繼續在您概述的細分市場中看到份額增加或份額強度。此外，即將到來的新技術提供了更多的過程控制強度機會。

For example, High-K/Metal Gate, if you look at that, if you look at gate-all-around, the metrology, bigger die size, all those things are going to allow -- there would be more opportunity. And we have products in the queue as well as in the field that are going to take advantage of that. So we feel very well positioned.

例如，High-K/Metal Gate，如果你看一下，如果你看一下整個門，計量學，更大的芯片尺寸，所有這些都會允許 - 會有更多的機會。我們在隊列中以及將利用這一點的領域中都有產品。所以我們覺得定位很好。

The biggest challenges we've talked about is satisfying demand, and that's related to -- we think we've done a really good job with supply chain, but there's more work to do there to continue to support our customers.

我們談到的最大挑戰是滿足需求，這與 - 我們認為我們在供應鏈方面做得非常好，但還有更多工作要做，以繼續支持我們的客戶。

I appreciate the insights there. And then on your EPC franchise, specialty semiconductor, manufacturing, packaging, PCB, display franchises. It's been a great diversification for the KLA business. And I know, going back -- and you guys will probably update us, but going back to the last Analyst Day, the team's outlook for EPC was to grow that business at a 9% to 10% CAGR. You grew that business -- and this includes services, you grew that business about 15% last year. The 2-year CAGR up to last year has been about 12%.

我很欣賞那裡的見解。然後是您的 EPC 特許經營權、特種半導體、製造、包裝、PCB、顯示器特許經營權。這對 KLA 業務來說是一個巨大的多元化。我知道，回過頭來——你們可能會更新我們，但回到上一個分析師日，團隊對 EPC 的展望是以 9% 到 10% 的複合年增長率增長該業務。你發展了這項業務——這包括服務，去年你的業務增長了大約 15%。截至去年的 2 年復合年增長率約為 12%。

So tracking ahead of your targets, what type of growth do you guys expect for EPC this calendar year, just given the strong focus by your semi customers on power, RF sensors, advanced packaging and new PCB architectures? And maybe that's been slightly offset by smartphone and display weakness, but wanted to get your views on EPC growth for this year.

因此，在您的目標之前跟踪，鑑於您的半導體客戶對功率、射頻傳感器、先進封裝和新 PCB 架構的高度關注，你們預計 EPC 在本日曆年會出現什麼樣的增長？也許這被智能手機和顯示器的疲軟稍微抵消了，但想了解您對今年 EPC 增長的看法。

Yes, Harlan. So in terms of the systems part of EPC, we're somewhere close to 20% is our expectation for the year. Obviously, we'll have to see how that plays out. That tends to be a little bit of a shorter lead time business and have some parts of its markets that are a little bit more sensitive to some of the consumer dynamics.

是的，哈蘭。因此，就 EPC 的系統部分而言，我們對今年的預期接近 20%。顯然，我們必須看看結果如何。這往往是一個較短的交貨時間業務，並且其市場的某些部分對某些消費者動態更加敏感。

But in general, we expect to see about a 20% growth there. Now if you blend it with its service business, it will be in the high teens. That service business tends to grow a little bit slower than that.

但總的來說，我們預計那裡會有大約 20% 的增長。現在，如果你將它與它的服務業務結合起來，它將處於十幾歲。該服務業務的增長往往比這慢一些。

But you're right, over the last couple of years, on the systems side, we've been in that 20% range. And it hasn't gotten as much of a play as -- given the strength of our semi process control business. But we're pleased with where we're going directionally there. And we'll have more to say about the longer-term view at our Investor Day in mid-June.

但你是對的，在過去的幾年裡，在系統方面，我們一直處於 20% 的範圍內。考慮到我們的半過程控制業務的實力，它並沒有發揮那麼大的作用。但我們對我們的方向感到滿意。我們將在 6 月中旬的投資者日就長期觀點發表更多看法。

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

我們將從 C.J. Muse 和 Evercore 提出我們的下一個問題。

I guess first question, can you speak to your backlog? What your blended kind of lead times look like today? And what kind of visibility that provides you into 2023?

我想第一個問題，你能談談你的積壓工作嗎？您今天的混合交貨時間是什麼樣的？什麼樣的知名度可以為您提供到 2023 年？

Yes, C.J, it's a great question. Right now, blended lead times, and they're blended across right products and the revenue value of the composition of the backlog, but it's well over a year now in terms of where lead times are. Obviously, certain product lines are longer than that. We're slotting certain product lines now today out into 2024. So there's quite a bit of demand for some of the products.

是的，C.J，這是一個很好的問題。現在，混合交貨時間，它們混合在正確的產品和積壓的構成的收入價值中，但就交貨時間而言，現在已經超過一年了。顯然，某些產品線比這更長。我們今天將某些產品線排到 2024 年。因此對某些產品有相當多的需求。

And given the constraints we have around key components and the lead time for those components, it just pushes that -- those lead times out. So overall, we've seen it trend up here. And as I said in the prepared remarks, as we go through the year, I continue to expect to see demand exceeding supply. So I would expect lead times to probably increase a little bit as we move over the course of the year.

考慮到我們對關鍵組件的限制以及這些組件的交貨時間，它只會推動那些交貨時間。所以總的來說，我們已經看到它在這裡呈上升趨勢。正如我在準備好的講話中所說，隨著我們度過這一年，我繼續預計需求將超過供應。因此，我預計隨著我們在一年中的移動，交貨時間可能會增加一點。

Very helpful. As my follow-up. Curious, on the China lockdowns, any impact or future impact in your view, particularly around kind of PCB and display area? I would imagine that might be a downstream potential risk in terms of taking deliveries.

很有幫助。作為我的後續。好奇，關於中國的封鎖，您認為有什麼影響或未來的影響，尤其是在 PCB 和顯示區域方面？我想這可能是收貨方面的下游潛在風險。

Well, our guidance implies a risk-adjusted assessment of where we're at. Obviously, there's always some unknowns about that, both from a supply point of view, which we feel pretty good about, but also more so from just can we get access to customers, can we get tools installed, can we get acceptances done and so on.

好吧，我們的指導意味著對我們所處的位置進行風險調整評估。顯然，這總是有一些未知數，無論是從供應的角度來看，我們感覺很好，但更重要的是，我們能否接觸到客戶，我們能否安裝工具，能否完成驗收等等在。

We've contemplated that in the guidance we've given. We do have an expectation of seeing some opening begin in the, call it, sort of the middle of May. If things drift out further than that or there's a significant expansion of lockdown activity, it could have more of an impact.

我們已經在我們給出的指導中考慮到了這一點。我們確實希望看到一些開放在五月中旬開始。如果情況超出此範圍，或者鎖定活動顯著擴大，則可能會產生更大的影響。

But we -- I think we've risk-adjusted it as best as we can. There's certainly some unknowns. But we feel pretty good about the guidance we provided.

但是我們 - 我認為我們已經盡可能地對其進行了風險調整。肯定有一些未知數。但是我們對我們提供的指導感覺很好。

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

我們將回答瑞銀的蒂莫西·阿庫裡（Timothy Arcuri）的下一個問題。

Bren, I wanted to try to probe a little bit on that question around backlog because backlog really doesn't mean a whole lot when your lead times are sitting beyond that 12-month window for backlog.

Bren，我想嘗試探討一下關於積壓的問題，因為當您的交貨時間超過 12 個月的積壓窗口時，積壓實際上並不意味著太多。

So I guess the question is more on purchase obligations. I think you report that in the Q, and it was greater than $8 billion, I think, exiting December. And so I guess the first question is sort of where does that stand now? I'm just trying to get a sense of sort of how long book-to-bill is going to stay above 1. And maybe if you could give us backlog, a number.

所以我想問題更多的是關於購買義務。我認為您在 Q 中報告了這一點，我認為，在 12 月退出時超過 80 億美元。所以我想第一個問題是它現在處於什麼位置？我只是想了解訂單到賬單將保持在 1 以上多長時間。也許你可以給我們積壓，一個數字。

Yes. So Tim, you'll see the exact number in the 10-Q that we file. And it's the performance obligations, not purchase commitments. But anyway, the performance obligations, where you're right, we're over $8 billion last quarter and we'll be in excess of $10 billion this quarter. And to my earlier comment, I think we'll see book-to-bill above 1 through the year.

是的。所以蒂姆，你會在我們提交的 10-Q 中看到確切的數字。這是履約義務，而不是購買承諾。但無論如何，履約義務，你是對的，我們上個季度超過 80 億美元，本季度我們將超過 100 億美元。根據我之前的評論，我認為我們將看到全年的訂單出貨量高於 1。

I guess I had a question also on process control systems. So March came in like almost $100 million better than what I had and what I think your sort of guidance was implying. June is about in line. I think before, you were talking about the second half of the year, process control systems being up sort of low to mid-teens. And I guess the question within that is, is that still the right number even though March came in a bit better? And part of that is a question really on timing because the films guys, as you said, they're having problems shipping tools. And so that is tending to push some WFE from the first half into the back half.

我想我對過程控制系統也有疑問。所以三月份的收入比我所擁有的以及我認為你的指導所暗示的要高出近 1 億美元。六月即將上線。我認為之前，你在談論下半年，過程控制系統正在上升到十幾歲。我想其中的問題是，即使三月份的情況好一點，這仍然是正確的數字嗎？其中一部分是關於時間的問題，因為電影人，正如你所說，他們在運送工具方面遇到了問題。因此，這往往會將一些 WFE 從上半場推到後半場。

And I guess the question is, since you guys are sort of upsiding shipments and they're sort of downsiding shipments, does it become a problem for you, where you have like timing mismatches and maybe -- because they can't get film tools, maybe they start to push out your tools?

我想問題是，既然你們的出貨量在上升，而出貨量在下降，這對你來說是否會成為一個問題，比如時間不匹配，也許——因為他們無法獲得電影工具，也許他們開始推出你的工具？

Tim, usually, that doesn't impact us all that much because we tend to see process control tools go in early. Also, given the demand environment, customers will deal with timing issues in terms of taking tools and storing them to align with expectations around their other tool sets.

蒂姆通常不會對我們產生太大影響，因為我們傾向於看到流程控制工具儘早投入使用。此外，鑑於需求環境，客戶將在獲取工具和存儲工具方面處理時間問題，以符合他們對其他工具集的期望。

So I'm less concerned about that given that the strength of demand. Customers are beating on us every day to ship sooner, so I'm not I'm not concerned about delays in other types of tools impacting our products.

因此，鑑於需求的強度，我不太擔心這一點。客戶每天都在要求我們盡快發貨，所以我不擔心其他類型工具的延遲會影響我們的產品。

And you're right, we did have -- Q1 was stronger. Certainly the execution by the teams in the last month as we dealt with a lot of delays in parts, particularly around automation for our systems, the execution was really solid. And we're really pleased with the upside we saw in Q1.

你是對的，我們確實有 - 第一季度更強。當然，團隊在上個月的執行情況，因為我們處理了很多部分延誤，特別是在我們系統的自動化方面，執行非常可靠。我們對第一季度看到的上行空間感到非常滿意。

So as I think about the second half, the second half, I'm still in the same range, low to mid-teens in terms of semiconductor process control systems. So half to half versus the first half.

所以當我考慮下半年，下半年，我仍然在同一個範圍內，就半導體過程控制系統而言，從低到十幾歲。所以半對半與上半場相比。

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

我們將向富國銀行的 Joe Quatrochi 提出下一個問題。

I was curious, how should we think about the -- you mentioned slower-than-planned or hiring in a difficult labor environment. I assume that's more maybe geared towards 2023. Or how do we think about that in terms of your ability to have enough labor to meet demand for this year?

我很好奇，我們應該如何考慮 - 你提到的比計劃慢或在艱難的勞動環境中招聘。我認為這可能更適合 2023 年。或者我們如何看待您是否有能力擁有足夠的勞動力來滿足今年的需求？

Joe, it's Rick. It wasn't really -- it was much more about the impact to cost about when they're hired. We actually did quite well of hiring in Q1. It's just if they're not hired at the beginning of the quarter and we factored in the payroll for the whole quarter, we're on track for our hiring this year.

喬，是瑞克。這不是真的——更多的是關於他們被雇用時的成本影響。實際上，我們在第一季度的招聘工作做得很好。只是如果他們在本季度初沒有被聘用，並且我們將整個季度的工資單考慮在內，我們今年的招聘工作就走上了正軌。

And most of that had to do, frankly, more with some of the engineering work than it does the work that's associated with both operations and service, where you could potentially, if you didn't have the resources, see a shortfall for the year.

坦率地說，其中大部分與一些工程工作有關，而不是與運營和服務相關的工作，如果你沒有資源，你可能會看到今年的短缺.

But even then, it would just -- right now, we're trying to alleviate the teams who are doing a lot of overtime and trying to provide them some backfill. So none of our hiring challenges are affecting our ability to support the revenue for this year or next year. But we do want to get people in, and we've had good success, but it's more -- we're talking months as opposed to quarters or years behind.

但即便如此，它也只是——現在，我們正在努力緩解那些加班很多的團隊，並試圖為他們提供一些回補。因此，我們的招聘挑戰都不會影響我們支持今年或明年收入的能力。但我們確實希望讓人們參與進來，我們已經取得了很好的成功，但更重要的是——我們談論的是幾個月而不是幾個季度或幾年。

Got it. That's helpful. And then just as a quick follow-up. I was wondering if you could talk about the strength you saw in DRAM during the quarter. And I think you even implied in the guide, I think we're at record levels for process control systems. Just kind of curious what drove that, if it's architectural changes, EUV. Anything like that would be helpful.

知道了。這很有幫助。然後作為快速跟進。我想知道你是否可以談談你在本季度看到的 DRAM 的實力。而且我認為您甚至在指南中暗示，我認為我們的過程控制系統處於創紀錄的水平。只是有點好奇是什麼驅動了它，如果是架構變化，EUV。任何類似的事情都會有所幫助。

Yes, Joe, it's mostly technology transitions this year. And certainly, the introduction of EUV and DRAM has been a driver for investment from our customers. It's pretty broad. As I look at the DRAM investment, it's pretty broad-based across our customer set.

是的，喬，今年主要是技術轉型。當然，EUV 和 DRAM 的推出一直是我們客戶投資的驅動力。它相當廣泛。當我查看 DRAM 投資時，它在我們的客戶群中非常廣泛。

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

我們將帶著 Stifel 回答 Patrick Ho 的下一個問題。

Maybe first off for you, Rick. In terms of the advanced packaging market, you've done a great job in terms of getting the value proposition for front-end chipmakers with your process control solutions.

瑞克，也許首先適合你。在先進封裝市場方面，您在為前端芯片製造商提供過程控制解決方案的價值主張方面做得很好。

Now some of these customers are the same ones on the advanced packaging side. Some of them obviously are OSAT and customers like that. As advanced packaging becomes a much more complex problem, how do you get the customer mindset changed to get that same value proposition for those type of processes given the complexities that are occurring?

現在，其中一些客戶與先進封裝方面的客戶相同。其中一些顯然是 OSAT 和這樣的客戶。隨著先進封裝成為一個更加複雜的問題，鑑於正在發生的複雜性，您如何改變客戶的思維方式，從而為這些類型的流程獲得相同的價值主張？

Yes, good question, and one that -- obviously, we're excited about the EPC acquisition for exactly this. So I would say really, for EPC, even in earlier question we had about how we're doing and how we think about it, I really think of it in 3 stages. The first stage for EPC for KLA was to employ the operating model and how we run the businesses, and that was really what we did initially.

是的，好問題，還有一個問題——顯然，我們對 EPC 的收購感到興奮。所以我想說的是，對於EPC，即使在之前的問題中，我們也有關於我們如何做以及我們如何看待它的問題，我真的認為它分為三個階段。 KLA 的 EPC 的第一階段是採用運營模式以及我們如何運營業務，而這正是我們最初所做的。

The second stage was customer engagement. And because, as you say, some of these customers are bigger customers, have more complex problems. And they know KLA, they wanted to engage with us. So that's actually been going quite well, and we've been having a lot of discussions.

第二階段是客戶參與。因為，正如你所說，其中一些客戶是更大的客戶，有更複雜的問題。他們知道 KLA，他們想與我們合作。所以這實際上進展得很順利，我們已經進行了很多討論。

But of course, then you get to the third part of that, which is technology leverage from the rest of KLA into EPC. And we're kind of in Phase 2 and Phase 3 now, where we've been having those meetings. There are a lot of clear opportunities for us, and we're developing those solutions and rolling those out.

但是，當然，接下來您會看到第三部分，即從 KLA 的其餘部分到 EPC 的技術槓桿作用。我們現在處於第 2 階段和第 3 階段，我們一直在舉行這些會議。我們有很多明確的機會，我們正在開發這些解決方案並將其推出。

So I think that you'll see the leverage, the revenue synergy associated from the additional channel access and the needs and then the benefit of our technology as we go forward. That's really -- that's coming. We're going to talk more about that at the Analyst Day in June as we roll that out. But right now, huge opportunities, and we feel like we're just at time with that acquisition to be in a position to support them.

所以我認為你會看到槓桿作用，與額外渠道訪問和需求相關的收入協同作用，然後是我們前進的技術帶來的好處。這真的是——即將到來。我們將在 6 月的分析師日上更多地討論這個問題。但是現在，巨大的機會，我們覺得我們正處於收購的時候，能夠支持他們。

Great. As my follow-up maybe for Bren. Given WFE, the outlook looks like it's going to be a much more second half-weighted year, particularly in terms of revenues and when the equipment companies receive cash.

偉大的。作為我的後續可能是布倫。鑑於 WFE，下半年的前景看起來將更加重要，尤其是在收入和設備公司收到現金方面。

You guys have been executing well, getting tools out on time. But we've heard from other companies where they're "shipping incomplete tools", where they'll finish the install and get the revenue recognition later on, so to not expect a huge "shipment ramp" or a huge production ramp the second half of the year.

你們一直執行得很好，按時推出工具。但是我們從其他公司那裡聽說他們正在“運送不完整的工具”，他們將在那裡完成安裝並稍後獲得收入確認，所以不要指望巨大的“出貨量”或第二個巨大的生產量半年。

How are you balancing those dynamics? Are you shipping any incomplete tools at the customer site where you can then go back later on so it doesn't overly imbalance both shipments as well as your revenue recognition?

你如何平衡這些動態？您是否在客戶站點運送了任何不完整的工具，您可以稍後再返回，這樣就不會過度不平衡發貨以及您的收入確認？

Yes, Patrick, that's a great question. And when you're talking about process tools, you have modular systems. And so they kind of come together at the customer site in a lot of cases between the automation and then the gas boxes and the process chambers. And so if you're missing parts, sometimes, you have that issue.

是的，帕特里克，這是一個很好的問題。當您談論流程工具時，您擁有模塊化系統。因此，在很多情況下，它們會在客戶現場聚集在自動化設備、氣箱和工藝室之間。因此，如果您缺少零件，有時您會遇到這個問題。

With our systems, and we internally source the handlers for our systems. But our systems ship completely, and so they don't come -- for the most part, I mean, we might have an issue here or there on the FPD business, where you'll have a similar dynamic. And in some cases, there isn't a reasonable carve-out based on the substance of the transaction, where you defer some of the revenue. But it's a very, very small part of KLA.

使用我們的系統，我們在內部為我們的系統採購處理程序。但是我們的系統是完全發貨的，所以它們不會出現——我的意思是，在大多數情況下，我們可能會在 FPD 業務上或那裡遇到問題，在那裡你會有類似的動態。在某些情況下，沒有基於交易實質的合理分割，您可以推遲部分收入。但它只是 KLA 非常非常小的一部分。

So on our semi process control part of the business, we're shipping complete systems. And so you wouldn't see a big correction in a deferred revenue that all of a sudden comes together as you move forward. So what we're shipping is complete systems, and that's what's revenue-ing as we go forward.

因此，在我們業務的半過程控制部分，我們正在運送完整的系統。因此，您不會看到遞延收入出現大幅修正，而隨著您的前進，這些修正會突然匯集在一起。所以我們交付的是完整的系統，這就是我們前進的收入。

We'll take our next question from Vedvati Shrotre with Jefferies.

我們將從 Vedvati Shrotre 與 Jefferies 一起回答我們的下一個問題。

I think my first question is, I wanted to understand if you have a sense of what the industry wafer capacity is expected to grow in this year and for the next year.

我想我的第一個問題是，我想了解您是否了解今年和明年的行業晶圓產能預計將增長多少。

So WFE is expected to be around the mid-teens growth for this year. Like how does that translate to an increased capacity? If you can provide any color here. And I understand if you don't have an industry view, maybe you could talk to a subset of your customers, that would be helpful.

因此，預計今年 WFE 的增長將在十幾歲左右。就像這如何轉化為增加的容量？如果你可以在這裡提供任何顏色。我理解如果你沒有行業觀點，也許你可以和你的一部分客戶交談，這會很有幫助。

Yes. So at least $100 billion in WFE. It's translating. And I don't have the exact numbers, but we're seeing new wafer starts per month being added across all production nodes. And you're seeing it in memory at a limited level, certainly this year compared to prior years, less because it's more of a technology transition-focused year.

是的。所以至少有 1000 億美元的 WFE。正在翻譯。而且我沒有確切的數字，但我們看到每個月都會在所有生產節點上添加新的晶圓。而且你在記憶中看到它的水平有限，與往年相比，今年肯定會減少，因為它更多的是以技術轉型為重點的一年。

But certainly, on the foundry logic side, you're seeing increases in the 3-nanometer, 5-nanometer. And 7- and 10-nanometer is probably flattish, but then you get 28 and 40 and above and sort of those nodes. You've got the legacy investment that's happening there. So you're really seeing wafer start additions across just about all production nodes.

但可以肯定的是，在代工邏輯方面，您會看到 3 納米、5 納米的增長。 7 納米和 10 納米可能是平的，但是你會得到 28 和 40 及以上的節點以及類似的節點。您已經獲得了那裡正在發生的遺留投資。所以你真的看到幾乎所有生產節點都開始添加晶圓。

So is that in line with WSE growth? That's what I was trying to get at. Or is it -- so is that like an 18% increase? Or if you could help me characterize what kind of capacity increase that is.

那麼這符合華爾街英語的增長嗎？這就是我想要達到的目的。或者是——那是不是增加了 18%？或者，如果你能幫我描述一下那是什麼類型的容量增加。

Yes, I don't think I can help you with that right now. By node, the capital intensity changes. And so it's not dollar for dollar in terms of how it applies to wafer starts at a given node.

是的，我想我現在不能幫你。通過節點，資本密集度發生變化。因此，就它如何應用於從給定節點開始的晶圓而言，這並不是一分錢一分貨。

Got it. Okay. Okay. And for my follow-up. Four to 5 years ago, most of the customers used to talk about reusing about 70% to 80% of their tools. How has this changed now? Is this -- is majority of the WFE spend on capacity additions? Like how has that changed since, if you could help me understand.

知道了。好的。好的。並為我的後續行動。 4 到 5 年前，大多數客戶曾經談論過重用 70% 到 80% 的工具。現在情況發生了怎樣的變化？這是——WFE 的大部分支出都用於增加產能嗎？如果你能幫助我理解的話，從那以後情況發生了怎樣的變化。

Yes. That's an interesting change in the dynamics of the industry. And that was really more isolated to one period in time than if you look at the overall history of the industry. And that was largely because there were not very many new starts on advanced nodes. There were primarily just a handful of customers, a handful of devices.

是的。這是行業動態的一個有趣變化。與查看該行業的整體歷史相比，這確實更孤立於某個時期。這主要是因為在高級節點上沒有太多新的開始。主要只有少數客戶，少數設備。

And so that reuse was something that happened when Moore's Law wasn't scaling. We're seeing very little reuse now, and there's a couple of reasons for that. One of the primary reasons is the number of starts, the broad-based number of devices that's being run on these nodes and the ability of more and more customers to support that. That means that our customers are running flat out those technology nodes as they're introducing new ones.

因此，當摩爾定律沒有擴展時，重用就發生了。我們現在看到的重用很少，這有幾個原因。主要原因之一是啟動的數量、在這些節點上運行的設備的廣泛數量以及越來越多的客戶支持它的能力。這意味著我們的客戶在引入新的技術節點時會耗盡這些技術節點。

So we're actually seeing kind of the opposite effect, if you will. We're seeing some capacity. Some of our sales are actually into ramps that historically we would have considered to be done. And they're actually buying tools, for example, for 7-nanometer right now. There's still some of that going on in spite of the new investment being advanced.

所以我們實際上看到了相反的效果，如果你願意的話。我們看到了一些容量。我們的一些銷售實際上進入了歷史上我們會考慮完成的坡道。他們現在實際上正在購買工具，例如 7 納米。儘管新的投資正在推進，但仍有一些這樣的事情發生。

So reuse is significantly down in terms of the amount. And that's a trend that our customers believe is going to continue is that it's going to be a focus on supporting that. And if you look at the overall semiconductor shortage in the world, you can imagine that, that's not something that they can really afford to do because they're running those old lines flat out, and we see that in our service business and the overall fabulization around the world.

因此，就數量而言，重用率顯著下降。我們的客戶相信這種趨勢將繼續下去，它將成為支持這一趨勢的重點。如果你看看世界上的整體半導體短缺，你可以想像，這不是他們真正負擔得起的事情，因為他們正在全力以赴地運行那些舊生產線，我們在我們的服務業務和整體世界各地的虛構。

(Operator Instructions) We'll take our next question from Krish Sankar with Cowen.

（操作員說明）我們將從 Krish Sankar 和 Cowen 那裡得到下一個問題。

This is Rob Mertens on behalf of Krish.

我是代表 Krish 的 Rob Mertens。

I guess, looking into the services, you've been growing the business nicely. You mentioned a strong installed base component in the quarter and just in general.

我想，看看服務，你一直在很好地發展業務。您在本季度提到了一個強大的安裝基礎組件，而且只是總體而言。

But looking at the attach rate opportunity, I think you've mentioned maybe over 75% process control systems and maybe 90% in PCB. Is that a fair assessment? And is there further room to growth in terms of that side of the service business?

但看看附加率機會，我想你提到的過程控制系統可能超過 75%，PCB 可能超過 90%。這是一個公平的評價嗎？就服務業務的這一方面而言，還有進一步的增長空間嗎？

Yes. Look, certainly, as the tools increase in complexity and the demand on uptime increases, it does create opportunities for us to drive a contract model, a subscription-like model with those customers.

是的。當然，隨著工具複雜性的增加和對正常運行時間的需求的增加，它確實為我們創造了推動合同模式的機會，與這些客戶建立類似訂閱的模式。

And so we do think there's some upside potential over time, and we'll talk a little bit about some of the longer-term drivers of our service business and its trajectory going forward at our Investor Day in June.

因此，我們確實認為隨著時間的推移存在一些上行潛力，我們將在 6 月的投資者日討論我們服務業務的一些長期驅動因素及其發展軌跡。

But obviously, PCB at closer to 90%, it's hard to improve much on that, but I think that there's still some opportunity on the semi PC side given the dynamics I mentioned.

但很明顯，PCB 接近 90%，這方面很難有太大改善，但我認為考慮到我提到的動態，半 PC 方面仍有一些機會。

One of the other opportunities we have in our acquired businesses is to try to drive more and higher attach on those tools in terms of service. And certainly, smaller players have a harder time having the infrastructure to be able to engage with customers to try to monetize that service business.

我們在收購的業務中擁有的其他機會之一是嘗試在服務方面推動對這些工具的更多和更高的重視。當然，較小的參與者更難擁有能夠與客戶互動以嘗試將服務業務貨幣化的基礎設施。

And so there's opportunities for us in our specialty semiconductor business, our flat panel business and some other smaller acquisitions we've done to drive more service opportunity. We'll have a lot more to say about it in June, but hopefully, that helps for now.

因此，我們的特種半導體業務、平板業務以及我們為推動更多服務機會而進行的一些其他較小的收購，都為我們提供了機會。我們將在 6 月份對此進行更多討論，但希望對現在有所幫助。

Great. That's helpful. And then just as a follow-up. In terms of the WFE view you gave and sort of peers are indicating, would assume that supply issues are going to sort of ease in the second half.

偉大的。這很有幫助。然後只是作為後續行動。就您給出的 WFE 觀點和一些同行所表示的而言，假設供應問題將在下半年有所緩解。

What sort of incremental challenges have you seen within the industry over the past couple of months? Are there any sort of specific shortages, key components? Or is it sort of an ongoing rolling issue where things pop up and are dealt with and then other things pop up?

在過去的幾個月裡，您在行業中看到了什麼樣的增量挑戰？是否有任何特定的短缺，關鍵部件？或者它是一種持續的滾動問題，事情會突然出現並得到處理，然後其他事情就會出現？

Yes. I think the whack-a-mole analogy is applicable here. It seems that as we work certain issues, other issues materialize. The dynamic in China with the COVID lockdowns does have some potential impact on some suppliers. Although we think we've dealt with it in the guidance we've given in terms of just our assessment of the risk profile of that.

是的。我認為打地鼠的比喻適用於此。似乎當我們處理某些問題時，其他問題就會出現。由於 COVID 封鎖，中國的動態確實對一些供應商產生了一些潛在影響。儘管我們認為我們已經在我們提供的指導中處理了它，但我們只是根據我們對其風險狀況的評估來評估它。

But I would say they're all the same issues, and we just continue to work and the teams have done a really good job of it.

但我想說它們都是相同的問題，我們只是繼續工作，團隊做得非常好。

We will take our next question from Atif Malik with Citi.

我們將向花旗的 Atif Malik 提出我們的下一個問題。

First one for, maybe, Rick. If you can update us on your single beam eSL10 platform in terms of design wins and sales expectations this year. And the reason I asked that question is because we were at SPIE conference this year, and it appears that the multi-e-beam platforms are showing limited flexibility and gaps to HVM manufacturing at logic makers like Intel. And then I have a follow-up.

第一個可能是 Rick。如果您能在今年的設計勝率和銷售預期方面向我們更新您的單光束 eSL10 平台。我問這個問題的原因是因為我們今年參加了 SPIE 會議，而英特爾等邏輯製造商的多電子束平台似乎顯示出有限的靈活性和與 HVM 製造的差距。然後我有一個跟進。

Yes. I guess the landscape, let me just generalize and I would say the e-beam inspection landscape has not really dramatically shifted. We've had some success, as we indicated, with the eSL10. But if you back up and look more about the overall balance between optical and e-beam for inspection, it's continuing remarkably to be at about that 80/20 split from optical to e-beam. It's been true for over the years.

是的。我想情況，讓我概括一下，我會說電子束檢測領域並沒有真正發生巨大變化。正如我們所指出的，我們在 eSL10 上取得了一些成功。但是，如果您備份並更多地了解用於檢查的光學和電子束之間的整體平衡，它會繼續顯著地保持在從光學到電子束的 80/20 左右。多年來一直如此。

So there are more e-beam applications, I think, that are showing up. The one -- for inspection, for example, that's showing up that we're participating in uniquely is for reticle inspection. And that's what we're doing with our new 8xx to address the -- some of the opportunities in EUV.

因此，我認為出現了更多的電子束應用。例如，用於檢查的一個是我們唯一參與的檢查，即標線檢查。這就是我們正在使用我們的新 8xx 來解決 - EUV 中的一些機會。

But not really a lot has changed. I mean we go back and forth with the latest introductions from e-beam inspection. But by and large, we've had some success, but the market is on a relative basis. Overall, the EV market is about 20% to the 80% that is optical inspection.

但實際上並沒有太大變化。我的意思是我們來回了解電子束檢測的最新介紹。但總的來說，我們取得了一些成功，但市場是相對而言的。總體而言，電動汽車市場大約佔 20% 到 80%，即光學檢測。

Bren, anything to add?

布倫，有什麼要補充的嗎？

No, I think they're complementary technologies and scaling into production is the challenge, as you mentioned. And even as you increase the beams, it doesn't necessarily equate to a lot of throughput. It does equate to some, but there is still a challenge in the throughput disparity that's quite significant relative to optical solutions.

不，我認為它們是互補的技術，正如你所提到的，將其擴展到生產是挑戰。即使你增加了光束，它也不一定等同於大量的吞吐量。它確實等同於一些，但在吞吐量差異方面仍然存在挑戰，這與光學解決方案相比非常重要。

So it's relegated to defect discovery and engineering analysis-type cases and doesn't -- isn't all that applicable to a production environment. And that's -- I think it's been very well validated, I think, with the strength that we've seen in optical pattern inspection over the last few years.

因此，它被歸類為缺陷發現和工程分析類型的案例，並且並不適用於生產環境。那就是 - 我認為它已經得到了很好的驗證，我認為，在過去幾年中，我們在光學圖案檢測中所看到的實力。

Just one more example. I think this is important to understand. If you look at calendar 2021, our Gen 4 optical actually outsold our Gen 5 optical in terms of amount of revenue in that split of the 80% of the market, and then the rest was divided in the e-beam among the different e-beam players.

再舉一個例子。我認為理解這一點很重要。如果你看一下 2021 年日曆，我們的 Gen 4 光學器件在 80% 的市場份額中的收入金額實際上超過了我們的 Gen 5 光學器件，然後其餘部分在不同的電子束中分配光束播放器。

So this idea that the latest technologies would require e-beam inspection hasn't been proven. In fact, if anything, it shows the extendability of optical as we -- even in 2021 and what we're seeing in 2022. In fact, we expect the Gen 4 to continue to have significant success in terms of serving the overall inspection needs.

因此，最新技術需要電子束檢測的想法尚未得到證實。事實上，如果有的話，它顯示了光學的可擴展性——即使在 2021 年以及我們在 2022 年看到的情況。事實上，我們預計 Gen 4 在滿足整體檢測需求方面將繼續取得重大成功.

So the view is they'll be complementary. e-beam will primarily be a tool that will be used for engineering analysis but not for in-line inspection.

因此，他們認為它們將是互補的。 e-beam 將主要是一種用於工程分析但不用於在線檢測的工具。

Great. And then my follow-up, Bren. Is it possible to break out the leading-edge sales, let's say, 10-nanometer or below, within your foundry logic sales?

偉大的。然後是我的跟進，布倫。是否有可能在您的代工邏輯銷售中突破領先的銷售，比如說 10 納米或以下？

Yes, it's about 80% is leading edge. Yes, that might include 14, 16, but that's only a few percent. So it's safe to say that pretty much 80% or so is 10-nanometer and below.

是的，大約 80% 是領先優勢。是的，可能包括 14、16，但這只是百分之幾。所以可以肯定地說，幾乎 80% 左右是 10 納米及以下。

We'll take our next question from Weston Twigg with Piper Sandler.

我們將從 Weston Twigg 和 Piper Sandler 那裡得到下一個問題。

I just wanted to follow up on your comments about reticle outgrowing the market this year. Can you just let us -- help us understand why it undergrew a little bit last year? Was it customer mix? Or is it just lumpiness? And what makes you confident that you get faster than market growth this year?

我只是想跟進你關於今年標線超出市場的評論。你能不能讓我們 - 幫助我們理解為什麼它去年增長了一點？是客戶組合嗎？還是只是腫塊？是什麼讓你有信心今年的增長速度超過了市場增長速度？

Well, yes, last year, it was a very strong 2020 and then 2021 was below market growth. It was still an up year for the business but below the market. And then we do have more strength this year. It tends to be lumpy.

嗯，是的，去年，這是一個非常強勁的 2020 年，然後 2021 年低於市場增長。這仍然是業務增長的一年，但低於市場。然後我們今年確實有更多的實力。它往往是塊狀的。

If you're thinking about mass shop systems, so our Teron systems that we sell into the mass shop, those are very high-dollar -- revenue dollar tool. So the ASP is quite high. So they tend to skew the numbers a bit in that market given that.

如果您正在考慮大眾商店系統，那麼我們出售給大眾商店的 Teron 系統，這些都是非常高的美元 - 收入美元工具。所以ASP是相當高的。因此，鑑於此，他們往往會稍微扭曲該市場的數字。

But certainly, we're seeing strength both in terms of EUV and new layers given the strength of foundry and logic, and that drives more reticle sets. And you've got, obviously, a lot of new designs, but you have re-spins of older designs. And so that's driving a lot of reticle demand. That's probably the biggest driver.

但可以肯定的是，鑑於代工和邏輯的實力，我們在 EUV 和新層方面都看到了實力，這推動了更多的光罩組。很明顯，你有很多新設計，但你有舊設計的重新設計。所以這推動了很多光罩需求。這可能是最大的驅動力。

You have also applications that are in the wafer fab for contamination monitoring. And we would also expect to see some revenue this year from the e-beam system that Rick mentioned as we get to the end of the year.

您還有晶圓廠中用於污染監測的應用程序。我們還希望今年年底前 Rick 提到的電子束系統能帶來一些收入。

So I think it's those factors that are driving that.

所以我認為是這些因素推動了這一點。

Yes. Wes, I would add one thing to it also is we're talking about the reticle inspector. But if you look at the application itself of qualifying reticles, a lot of the success we had in 2021 and continue to have now is use of Gen 5 to qualify EUV reticles.

是的。韋斯，我要補充一件事，就是我們正在談論標線檢查器。但是，如果您看一下合格標線片的應用程序本身，我們在 2021 年取得的許多成功以及現在繼續取得的很多成功都是使用第 5 代來合格 EUV 標線片。

So while it may not be the rapid systems we're selling, it's the application in support of those, largely because that is the most effective way to determine the quality of those reticles is to actually inspect them.

因此，雖然它可能不是我們銷售的快速系統，但它是支持這些系統的應用程序，主要是因為這是確定這些掩模版質量的最有效方法是實際檢查它們。

And finally, we have the capability to do it on the wafers with Gen 5. And so we saw a huge push from customers, multiple customers, everyone who's essentially doing EUV to utilize Gen 5 to qualify those reticles.

最後，我們有能力在第 5 代晶圓上進行此操作。因此，我們看到了來自客戶、多個客戶以及基本上在做 EUV 以利用第 5 代來驗證這些掩模版的每個人的巨大推動。

Okay. That's helpful. And that actually leads to a follow-on question. Just as high NAV comes down the pipeline over the next 2 or 3 years, do you have a solution ready for that, maybe leveraging your optical inspection platform? Or do you have to develop something novel?

好的。這很有幫助。這實際上導致了一個後續問題。就像未來 2 或 3 年將出現高資產淨值一樣，您是否有為此準備好的解決方案，也許可以利用您的光學檢測平台？還是你必須開發一些新奇的東西？

We have continued evolution of the platforms to support it. And we continue to work on additional reticle capabilities to support it. So I think the answer is a little bit of both.

我們不斷發展平台來支持它。我們將繼續努力開發額外的標線功能來支持它。所以我認為答案是兩者兼而有之。

I mean, the advantage of the on-wafer with the Gen 5 is that those tools already exist. And so right now, they could inspect those, albeit at a slower throughput. But of course, we're working on continuing to improve that capability both with increases in hardware but also a lot of the work we've been doing with machine learning and AI and the algorithm front to support those applications.

我的意思是，第五代晶圓上的優勢在於這些工具已經存在。所以現在，他們可以檢查那些，儘管吞吐量較慢。但是，當然，我們正在努力通過增加硬件以及我們在機器學習和人工智能以及支持這些應用程序的算法前端所做的大量工作來繼續提高這種能力。

And then at the same time, we have the 8xx, which we'll continue to support as well as 6xx. And as I think you know, we also are working on next-generation reticle inspection as well.

同時，我們還有 8xx，我們將繼續支持它以及 6xx。正如我想你知道的那樣，我們也在研究下一代標線檢測。

So we got quite a bit of -- I think our 2 biggest investment programs inside the company are both dealing with the challenges of reticle inspection over the next several years.

所以我們得到了很多——我認為我們公司內部最大的兩個投資項目都在應對未來幾年的標線檢查挑戰。

Thank you, Wes, and it looks like that brings us to the end of the call.

謝謝你，韋斯，看來這讓我們結束了通話。

I wanted just to again remind everyone that we're hoping we can see you in person in New York, June 16. If you don't have an invitation, please do reach out to KLA IR team, and we will get you one.

我想再次提醒大家，我們希望我們能在 6 月 16 日在紐約親自見到您。如果您沒有收到邀請，請聯繫 KLA IR 團隊，我們會給您一份。

And with that, I'll turn the call back over to David for any final statements.

有了這個，我將把電話轉回給大衛，以獲得任何最終陳述。

And this does conclude the KLA Corporation March Quarter 2022 Earnings Call and Webcast. Please disconnect your line at this time, and have a wonderful day.

這確實結束了 KLA Corporation 2022 年 3 月季度收益電話會議和網絡直播。請在此時斷開您的線路，並祝您有美好的一天。