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)

午安.我叫David，今天將擔任你們的會議主持人。現在，我歡迎大家參加KLA公司2022年3月季度業績電話會議及網路直播。 （接線生指示）

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

現在我將把電話轉給投資者關係和市場分析副總裁 Kevin Kessel。請您發言。

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 2022 財年第三季財報電話會議，討論 3 月季度的業績和 6 月季度的展望。

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

今天與我一起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 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，我們將討論今天收盤後發布的業績。您可以在我們的 KLA IR 網站上找到新聞稿、股東信、幻燈片和資訊圖表。

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，今天的討論均以非公認會計準則 (Non-GAAP) 財務數據為基礎。凡提及全年業績，均以自然年為準。我們網站上發布的收益資料中提供了 GAAP 與非 GAAP 業績的詳細對帳。我們的投資者關係 (IR) 網站還包含未來投資者活動、簡報、公司治理資訊以及我們提交給美國證券交易委員會 (SEC) 的文件鏈接，包括我們最新的年度報告以及 10-K 和 10-Q 表季度報告。

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.

我也想藉此機會提醒各位投資人和分析師，請報名參加我們6月16日在紐約舉行的投資人日。如果您沒有收到電子郵件邀請，請聯絡KLA IR團隊，我們會為您發送邀請。

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.

我們今天的評論受我們提交給美國證券交易委員會 (SEC) 的文件中「風險因素」揭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所做的陳述，也受這些風險的影響。 KLA 無法保證這些前瞻性陳述一定會實現。我們的實際結果可能與前瞻性陳述中的預測有顯著差異。

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

現在我想將電話轉給我們的執行長 Rick Wallace。 Rick？

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.

在詳細介紹 KLA 的表現之前，我想先感謝 KLA 的全球團隊。他們的堅持不懈和精益求精始終是我們持續執行和卓越表現的核心。儘管宏觀環境和供應鏈情況嚴峻，但你們始終保持專注，我們高效的團隊推動 KLA 成為客戶不可或缺的一部分，並在最近結束的財年中進一步提升了過程控制市場份額。

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 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表現強勁，收入、GAAP 和非 GAAP 每股收益均高於本季度指導範圍的中點。

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.

我們再次在多個業務領域展現出強大的執行力。我們專注於持續履行承諾，並實現我們的長期策略目標和財務目標，這是KLA的標誌性特徵，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產業眾多市場和應用的廣泛成長，主要產品類別的客戶需求持續成長。這種強勁的需求給該行業的半導體供應能力帶來了壓力。

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策略性資本支出，以提升競爭優勢，並因應市場對全新尖端半導體能力的需求成長。在這種需求不斷增長的背景下，KLA 始終專注於回應不斷變化的客戶需求並應對供應鏈挑戰。

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.

KLA 必須繼續以目標明確、精準運營，這樣我們才能超越預期，為客戶、合作夥伴和股東創造價值。我們優秀的全球團隊不僅運作並改進 KLA 的營運模式，還將其作為關鍵指南，幫助我們應對不斷變化的市場帶來的挑戰和機會。

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.

作為製程控制（WFE 市場中成長最快的細分領域之一）的市場領導者，KLA 在產業需求格局中仍保持著強勁優勢。半導體產業已發展成為更具戰略意義的產業，其終端市場結構也越來越不受週期性的影響，許多基本面驅動因素正在推動半導體在全球經濟中的關鍵地位。

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、對傳統節點的投資不斷增加以及先進封裝等新興技術的創新和發展等因素，正在推動半導體產業以及實現這一目標的設備和能力的長期成長。

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.

儘管供應挑戰和宏觀經濟逆風持續存在，我們對今年WFE產業的前景依然看好，並預計下半年將比1月的預期更加強勁。我們預計今年WFE需求將超過1,000億美元，連續第三年達到兩位數成長。

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 預計在 2022 年實現成長，這將是其連續第七年實現成長。在製程控制市場發展勢頭強勁的環境下，客戶需求持續強勁，KLA 的市場領導地位進一步增強，我們的市佔率仍是其最接近競爭對手的四倍。

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源於我們在 WFE 領域中一些成長最快的細分市場中佔據第一的位置，這些細分市場的年收入超過 10 億美元。我們將 KLA 不斷增強的市場領導地位歸功於我們持續成功執行以客戶為中心的策略，包括高水準投資，打造獨特的產品和技術組合，以應對市場上最關鍵的過程控制挑戰，並幫助客戶推動其成長策略。

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，我們策略的成功得到了客戶採購決策的認可，並在 2022 年 4 月 Gartner 市場佔有率報告中有所體現，彰顯了 KLA 市場領導地位的提升。這進一步彰顯了我們所採用的產品組合策略的強大力量。

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.

Gartner 最新發布的市佔率報告顯示，製程管制是 2021 年 WFE 成長最快的細分市場之一，全年成長 43%，達到 104 億美元。 KLA 在製程控制領域的份額增長了約 1 個百分點，達到 54% 以上，自 2018 年以來已增長超過 3 個百分點，並且在所有地區仍保持著最接近競爭對手的 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.

在製程控制領域，光學檢測市場的年銷售額成長至約25億美元，比WFE高出40%，我們在該市場的市佔率仍維持在80%以上。其他亮點也展現了KLA產品組合策略在其他關鍵製程控制市場（包括計量、宏觀檢測以及電子束審查）強勁成長方面的強大實力。

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.

現在來看看2022年3月季度的五大亮點。首先，KLA在WFE一些最關鍵、成長最快的市場中佔據市場領先地位，並持續推動成長。我們保持靈活創新，應對全球供應挑戰，以滿足客戶需求並實現我們的財務目標。

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

在晶圓代工和邏輯領域，跨多節點同步投資以及資本密集度的提升仍然是利多因素。在記憶體領域，多個客戶的需求廣泛。

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月季度表現突出，這得益於KLA的市場領導地位、客戶對市場應用的日益採用，以及尖端技術開發和產能監控。光學計量市場與EUV和關鍵的下一代架構（包括環繞柵極和多層堆疊的160層以上3D NAND）密切相關。 Gartner最新發布的市佔率報告進一步印證了這一點，該報告顯示2021年成長了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 正在加強在先進封裝和汽車電子領域的佈局，並充分利用 SPC 和 EPC 集團的整合產品組合。 KLA 正在拓展產品組合，提供全面的產品和技術，包括面向先進封裝市場的晶圓級封裝、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製程工具組合。

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.

這些合作不斷發展，KLA 在 3 月季度的汽車應用晶圓檢測收入方面創下了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，較去年成長14%。該公司3月季度的安裝量創下349台的新高，遠高於先前293台的最高紀錄。考慮到亞洲的旅行限制、新冠疫情相關的封鎖以及供應方面的複雜性——當前的供應環境——這一成就令人矚目。

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.

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

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月份季度是另一個非凡的時期。我們創造了7.19億美元的季度自由現金流，年增23%。我們也致力於透過股利和股票回購計畫向股東返還資本，這兩項計畫的金額均較去年同期大幅成長，其中包括3月份季度5.65億美元的股票回購和1.59億美元的額外股利。

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Bren回顧財務亮點和指引之前，請容許我簡單總結一下。 KLA的3月份季度表現持續優異，凸顯了KLA產品和服務的關鍵性，並協助我們生活的數位轉型。

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.

我們在應對市場重大挑戰方面始終表現出色，無論是在滿足不斷增長的需求方面，還是在解決持續存在的供應問題方面，都凸顯了 KLA 營運模式的彈性以及我們對生產性資本配置的承諾。

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 憑藉全面的產品組合，在技術創新領域佔據領先地位，能夠滿足客戶嚴苛的要求，並在靈敏度和吞吐量之間取得平衡。半導體和電子產業的格局瞬息萬變，我們持續看到，在尖端技術變革的推動下，客戶對前沿技術的興趣比以往任何時候都更加濃厚。

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，為了支援汽車和5G等不斷發展的市場，對傳統節點性能和可靠性的要求也不斷提高，這對於交付新功能也至關重要。我們相信，KLA將繼續受益於眾多推動長期產業需求的長期成長因素。同時，我們以強勁的長期營運槓桿推動多元化成長的策略，將為股東帶來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.

說完這些，我會把電話轉給布倫。

Thanks, Rick.

謝謝，里克。

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卓越的執行力和強大的市場地位。在強勁的需求環境下，我們將繼續專注於滿足客戶需求，同時擴大市場領先地位，增加收入，提升毛利和營業利潤，創造強勁的自由現金流，並維持我們長期高效的資本配置策略。

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.

季度營收為22.89億美元，處於21億美元至23億美元預期區間的上限。非公認會計準則毛利率高於預期中位數62.9%，主要由於各組成部分錶現基本符合預期，其中半導體製程控制系統營收高於預期，增強了本季的產品組合。

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.

非公認會計準則 (Non-GAAP) 攤薄每股收益為 5.13 美元，也接近 4.35 美元至 5.25 美元指導區間的上限。公認會計準則 (GAAP) 攤薄每股收益為 4.83 美元。非公認會計準則 (Non-GAAP) 營運費用為 4.84 億美元，低於我們預期的 4.95 億美元，主要原因是新員工招募速度低於原計畫。總營運費用包括 2.85 億美元的研發費用和 1.99 億美元的銷售、一般及行政費用。

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、過去幾年業務的快速擴張以及我們對未來業務收入的預期，我們預計將繼續投資於全球基礎設施和系統，以擴展 KLA 的營運模式，從而促進成長。這包括投資新產品開發項目和與產量相關的資源，以支持我們的業務擴張，同時使公司能夠執行我們的長期結構性成長策略。

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，我們也看到勞動力市場強勁，這導致我們全球員工的成本壓力加大，並對我們於3月份生效的年度績效考核流程進行了相關調整。因此，我們預計6月份當季營運費用將增加至約5.25億美元，並預測2022年全年季度營運費用將呈上升趨勢，同時我們的營收也將維持季比成長。

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.

我們繼續根據目標營運模式確定公司規模，該模式在正常時間範圍內為營收成長帶來 40% 至 50% 的增量營運利潤率槓桿。

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.

3月季度，非公認會計準則下營業利潤佔收入的比例再次強勁成長，達到41.7%。其他收入及支出淨額為4,600萬美元，而預期為4,100萬美元。與預期的差異反映了一項策略性供應投資的市價調整影響。

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%.

我們預測6月當季其他收入及支出淨額約為4,300萬美元。季度有效稅率為14.6%，高於我們13.5%的指導稅率。以指導稅率計算，非公認會計準則每股收益應為5.20美元。非公認會計準則淨利為7.76億美元。公認會計準則淨利為7.31億美元。經營活動現金流為8.19億美元。自由現金流為7,900萬美元，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.

按可報告的細分市場和終端市場劃分，收入如下。半導體製程控制部門（包括其相關服務業務）的收入為 19.8 億美元，較去年同期成長 31%，季減 4%，符合預期。代工邏輯客戶的半導體製程控制系統客戶細分組成約為 63%。記憶體客戶細分構成約為 37%，其中 DRAM 客戶佔 26%，NAND 客戶佔 11%。

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.

我們的EPC集團營收持續受到汽車、5G和先進封裝領域強勁成長的推動。 EPC集團旗下包括相關服務業務在內的特種半導體製程部門營收達1.17億美元，較去年同期成長28%，較上季成長4%。 PCB、顯示器和元件偵測部門營收達1.93億美元，年減6%，較上季成長2%。

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

有關各地區主要產品收入的詳細情況，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.

就資產負債表而言，KLA 本季末的總現金為 26 億美元，債務為 37 億美元，債券到期日安排靈活且具有吸引力，並得到了三家機構強勁的投資級評級的支持。

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.

我們對我們的長期業務越來越有信心，並致力於採取持續的現金回報股東的策略，以實現股息的成長和股票回購的增加。

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.

長期來看，我們的目標是至少達到70%的自由現金流回報。我們的資本回報策略彰顯了我們可預測且高效的資本配置的卓越記錄，並將繼續成為KLA投資理念的重要差異化要素。

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.

過去12個月，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6.2億美元的股利。 KLA在商業週期和經濟狀況的各個階段都擁有令人印象深刻的持續自由現金流產生、高自由現金流轉換率和強勁的自由現金流利潤率。

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.

展望未來。我們對2022年的整體半導體需求和WFE市場前景保持不變。根據12月季度的報告業績，我們預計WFE市場規模將在2021年約870億美元的較高基數基礎上，在2022年實現兩位數增長，超過1000億美元。

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.

儘管僅基於公司3月的報告，但行業供應問題似乎將導致下半年負荷增加。這反映了所有客戶群持續廣泛的需求強勁。雖然我們增加了KLA和供應商的產能，但供應鏈短缺仍然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，中國因新冠疫情而採取的封鎖措施的持續時間和可能擴大的範圍尚不清楚，這可能會對一些在受影響地區開展業務的供應商造成不利影響。此外，由於中國資源流動受限，這些封鎖措施還可能延遲系統安裝和客戶驗收流程。簡而言之，情勢瞬息萬變，我們將密切關注事態發展。

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.

供應商的可視性仍然充滿挑戰，且在過去三個月中未見改善。我們仍預計2022年全年季度營收將季增，全年總營收成長將超過20%。此外，我們相信，在今年剩餘時間內，需求將繼續超過供應。 KLA預計在半導體製程控制業務中再創佳績，並實現整體強勁的相對成長。

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，我們仍然對當前需求強勁且可持續的狀況感到鼓舞。我們強勁的訂單勢頭和強勁的積壓訂單使我們的表現超越WFE。與2021年一樣，我們將策略性地擴大全球製造業務的產能，以支持此前景並滿足客戶日益增長的製程控制需求。

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.

我們對六月季度的預期如下：預計總營收將在24.25億美元左右，上下浮動1.25億美元。預計代工邏輯業務約佔半導體製程控制系統營收的56%，記憶體業務約佔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.

在記憶體領域，DRAM 預計佔比約為 66%，NAND 預計佔比約為 34%。我們預測非 GAAP 毛利率將在 61.5% 至 63.5% 之間，因為我們預計本季度 EPC 收入將環比增長，而半製程控制產品組合略弱，這將導致利潤率較 3 月份季度略有下降。

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.

長期來看，基礎設施投資、勞動成本上漲、供應鏈緊張以及全球物流成本上升，正在超越通常在收入成長的環境中出現的規模經濟效益。鑑於對全年收入的預期，我們繼續預計22日曆年的毛利率將在63%左右，上下浮動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.

6月當季的其他模型假設包括非公認會計準則 (GAAP) 營運費用約5.25億美元，其他收入及費用淨額約4,300萬美元，有效稅率約13.5%。最終，預計GAAP稀釋每股收益在4.60美元至5美元之間。非GAAP稀釋每股盈餘在4.93美元至6.03美元之間。該每股收益指引基於約1.5億股完全稀釋股份。

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.

總而言之，儘管當前宏觀經濟面臨逆風，但推動半導體成長和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具韌性的趨勢。

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.

我們對業務的領先指標充滿信心，包括積壓訂單和訂單可見性，這激勵我們投資擴展業務基礎設施和必要的能力，以支持我們的前景。我們客戶的多年投資計畫為未來的需求前景提供了穩定性。

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 的營運模式使我們能夠超越產業，並指導我們重要的策略目標。這些目標推動著我們的成長、可靠的卓越營運以及日益多樣化的產品和服務的差異化。它們也是我們持續保持技術領先地位、廣泛的競爭優勢、領先的財務業績、長期強勁的自由現金流產生記錄以及持續的股東資本回報的基礎。

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

說完這些，我會把電話轉回給凱文，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.

（操作員指示）現在我們來回答摩根大通的 Harlan Sur 提出的第一個問題。

Great job on the solid execution.

出色的執行力。

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.

正如你們指出的，去年的市佔率數據已經公佈。你們的過程控制市場佔有率成長了近55%，遠超最接近的競爭對手的4倍。

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.

我看了數據。在製程控制的7個主要類別中，你們在其中5個類別中佔據了市佔率第一的位置。你們實際上成長了50%——超過50%的類別是圖案晶圓檢測、套刻和計量、宏觀檢測以及評審和分類。

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的關鍵解決方案。那麼，展望今年強勁的成長前景，您預期哪些領域或細分市場將推動貴公司製程控制業務今年的優異表現，甚至進一步提升市場佔有率？

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。哈蘭，我先開始，如果瑞克需要補充的話，可以讓他補充。但顯然，今年對公司來說是一個非常強勁的一年。我們對股票表現非常滿意。

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.

其中一個原因是，我們僅從今年的預期來看，正如您所提到的，我們預計許多市場將繼續保持成長勢頭，因此這些市場肯定會有強勁成長。我們預期光罩檢測業務的成長速度將高於市場平均水平，去年該業務的成長速度略低於市場平均水平，而且成長往往比較不穩定。但隨著我們進入今年，該業務的成長應該會略有增強。

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.

總的來說，我們對我們產品的路線圖感到非常滿意。正如我們在準備好的演講中所說，我們最大的挑戰是獲得所需的零件，以滿足客戶非常強勁的需求。

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.

但我們目前的勢頭令人鼓舞，我們的內部計劃是繼續擴大市場份額。考慮到您所說的現狀，我們認為我們還有更多的機會。

(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，但同時，我們在過去幾年中取得了良好的發展軌跡，並希望隨著我們前進，它能夠不斷增長。

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。哈蘭，我補充幾點。首先，當然，Gartner 的數據是收入，而且預訂情況更加強勁。所以從這方面來看，我們的狀況非常好。

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訂單和需求。因此，我們將繼續看到您概述的細分市場的份額成長或增強。此外，即將出現的新技術將提供更多製程控制強度的機會。

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，如果你專注於高K/金屬閘極，如果你專注於環柵技術、計量技術、更大的晶片尺寸，所有這些因素都將帶來更多機會。我們目前正在研究的產品以及已投入生產的產品都將利用這些優勢。因此，我們覺得自己處於非常有利的位置。

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有關，但為了繼續支持我們的客戶，我們還有很多工作要做。

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%.

我很欣賞你的見解。然後是關於你們的EPC特許經營權、特種半導體、製造、封裝、PCB和顯示器特許經營權。這對KLA業務來說是一個很大的多元化。我知道，回顧一下——你們可能會更新我們的情況，但回顧上一次分析師日，團隊對EPC業務的預期是該業務的複合年增長率為9%到10%。你們的業務成長了——這包括服務，去年你們的業務成長了約15%。截至去年的兩年複合年增長率約為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.

那麼，考慮到你們的半導體客戶對電源、射頻感測器、先進封裝和新型PCB架構的強烈關注，你們預計今年EPC將實現什麼樣的成長？或許智慧型手機和顯示器市場的疲軟略微抵消了這些成長，但我想聽聽您對今年EPC成長的看法。

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，Harlan。就EPC的系統部分而言，我們預計今年的成長速度將接近20%。當然，我們得看看情況如何。這類業務的交付週期通常比較短，而且其部分市場對消費者的動態較為敏感。

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.

但總體而言，我們預期該業務的成長率約為20%。如果將其與服務業務合併，成長率將達到15%左右。服務業務的成長速度通常會比這慢一些。

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.

但你說得對，過去幾年，在系統方面，我們的佔比一直維持在20%左右。考慮到我們半製程控制業務的強勁表現，這部分業務並沒有發揮太大的作用。但我們對目前的發展方向感到滿意。我們將在6月中旬的投資者日上，就長期前景發表更多看法。

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

我們將回答 Evercore 的 C.J. Muse 提出的下一個問題。

I guess 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?

我想問第一個問題，你能談談您們的積壓訂單嗎？你們目前的混合交付週期是怎麼樣的？這對你們2023年的交付週期有什麼指導意義？

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，這個問題問得很好。目前，混合交付週期是混合在合適的產品和待辦訂單的收入價值之間進行的，但就交付週期而言，現在已經超過一年了。顯然，某些產品線的交付週期更長。我們現在將某些產品線的交付週期安排到2024年。因此，某些產品的需求相當大。

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.

考慮到關鍵零件及其交付週期的限制，這只會推後交付週期。所以總的來說，我們看到了它的上升趨勢。正如我在準備好的演講中所說，隨著今年的推進，我預計需求將持續超過供應。因此，我預計交付週期可能會隨著時間的推移而略有增加。

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.

非常有幫助。作為我的後續問題。我很好奇，關於中國的封鎖，您認為這會帶來什麼影響或未來影響，尤其是在PCB和顯示器領域？我想這可能是下游收貨的潛在風險。

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.

嗯，我們的指引意味著對現狀進行了風險調整後的評估。顯然，這方面總是存在一些未知數，不僅從供應的角度（我們對此感覺相當良好），更重要的是，我們能否接觸到客戶，能否安裝工具，能否完成驗收等等。

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.

我們在先前的指導中已經考慮到了這一點。我們確實預計在五月中旬左右會有一些經濟復甦。如果情況進一步惡化，或封鎖措施大幅擴大，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.

但我認為我們已經盡力調整了風險。當然還存在一些未知因素。但我們對我們提供的指引感到相當滿意。

We'll 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。

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.

布倫，我想嘗試探究一下有關積壓的問題，因為當你的交貨時間超出積壓的 12 個月窗口期時，積壓實際上並不意味著什麼。

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。我記得你在Q報告中報告過，截至12月，購買義務金額應該超過了80億美元。所以我想第一個問題是，現在情況如何？我只是想了解訂單出貨比還能維持在1以上多久。你能不能給我們一個積壓訂單的數字？

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。提姆，你會在我們提交的10-Q財報中看到確切的數字。這是履約義務，而不是採購承諾。不過，你說得對，上個季度的履約義務超過80億美元，本季將超過100億美元。正如我之前所說，我認為全年的訂單出貨比將超過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.

我想我之前也對過程控制系統有疑問。 3月份的銷售額比我之前預測的以及我認為您的指引暗示的銷售額高出近1億美元。 6月份的銷售額大致持平。我記得之前您說的是下半年，製程控制系統的銷售額成長了10%左右。我想其中的問題是，即使3月的銷售額略有好轉，這個數字仍然準確嗎？部分原因在於時間安排，因為正如您所說，薄膜製造商在工具運輸方面遇到了問題。因此，這往往會將上半年的部分WFE推到下半年。

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，由於你們的出貨量有點上行，而他們的出貨量有點下行，這對你們來說會不會是一個問題，比如時間不匹配，也許——因為他們無法獲得薄膜工具，也許他們會開始淘汰你們的工具？

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.

Tim，通常情況下，這對我們影響不大，因為我們通常看到製程控制工具提前投入使用。此外，考慮到需求環境，客戶需要處理工具的取用和儲存時間問題，以符合他們對其他工具套件的期望。

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.

鑑於需求強勁，我對此不太擔心。客戶每天都在催促我們盡快發貨，所以我並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.

你說得對，我們第一季的表現確實更好。當然，上個月團隊的執行力確實很強，儘管我們處理了許多零件的延誤，尤其是在系統自動化方面，但執行力確實非常紮實。我們對第一季看到的成長非常滿意。

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的時候，我感覺下半年的半導體製程控制系統的利潤率仍然在同一範圍內，也就是低到中等程度。所以與上半年相比，利潤率只有一半到一半。

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

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

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，您提到了進度慢於計劃，或者在艱難的勞動力環境下招聘，我們應該如何看待這個問題？我認為這可能更傾向於2023年。或者，從您能否提供足夠的勞動力來滿足今年的需求來看，我們應該如何看待這個問題？

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，我是瑞克。其實，這跟招募成本的影響無關。我們第一季的招募工作其實做得很好。只是，如果季度初沒有招聘到員工，並且我們把整個季度的工資單都算進去了，那麼我們今年的招聘工作就按計劃完成了。

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.

坦白說，其中大部分與工程工作有關，而不是與營運和服務相關的工作，如果你沒有足夠的資源，那麼你可能會看到全年的短缺。

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，現在我們正在努力減輕那些加班很多的團隊的負擔，並為他們提供一些補充。因此，我們的招募挑戰不會影響我們維持今年或明年的收入。我們確實想招人，而且我們已經取得了不錯的成績，但更重要的是——我們說的是幾個月的滯後，而不是幾個季度或幾年的滯後。

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.

明白了。這很有幫助。然後，作為一個快速的後續問題，我想知道您能否談談本季您在 DRAM 方面看到的強勁表現。我想您甚至在指南中暗示過，我認為我們的製程控制系統達到了創紀錄的水平。我只是好奇是什麼推動了這個成長，是架構變化，還是 EUV？任何類似的問題都會有所幫助。

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動力。投資範圍很廣。我看DRAM的投資，它涵蓋了我們整個客戶群。

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

我們將回答 Stifel 的 Patrick Ho 提出的下一個問題。

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，首先我想問你。就先進封裝市場而言，你的製程控制解決方案在為前端晶片製造商提供價值主張方面做得非常出色。

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領域的客戶相同。其中一些顯然是OSAT之類的客戶。隨著先進封裝問題變得越來越複雜，考慮到正在發生的複雜性，您如何改變客戶的思維方式，使其在這些類型的工藝中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，這個問題問得好，而且──顯然，我們對收購EPC感到非常興奮。所以，我想說的是，對於EPC，即使在我們之前的問題中，關於我們目前做得如何以及我們如何看待它，我實際上認為它分為三個階段。 KLA的EPC的第一階段是採用營運模式以及我們如何經營業務，這確實是我們最初所做的。

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。正如您所說，其中一些客戶規模較大，遇到的問題也更複雜。他們了解KLA，也希望與我們合作。所以，這方面進展相當順利，我們也進行了許多討論。

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.

當然，接下來是第三部分，即利用 KLA 其他部門的技術優勢，將其融入 EPC。我們現在處於第二階段和第三階段，我們一直在進行這些會議。我們面臨許多明確的機會，我們正在開發並推廣這些解決方案。

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，隨著我們不斷前進，您會看到槓桿作用、額外管道存取帶來的收入協同效應、需求以及我們技術帶來的優勢。這些真的即將到來。我們將在6月份的分析師日上進一步討論這一點，屆時我們將推出這項技術。但目前，我們面臨著巨大的機會，我們覺得這次收購時機恰到好處，能夠支持這些機會。

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.

太好了。或許可以作為我對Bren的後續報導。考慮到WFE，下半年的前景看起來會更加重要，尤其是在收入方面，以及設備公司何時能收到現金方面。

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.

你們的執行情況一直很好，工具準時交付。但我們聽說其他公司“交付了不完整的工具”，他們會先完成安裝，然後再確認收入，所以不要指望下半年會有大幅的“出貨量提升”或產量提升。

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?

您是如何平衡這些動態的？您是否會將一些未完成的工具發送到客戶現場，以便稍後再返還，這樣既不會造成發貨量失衡，也不會影響您的收入確認？

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，派崔克，這個問題問得很好。說到製程工具，通常都是模組化系統。很多情況下，它們會在客戶現場組裝起來，包括自動化系統、氣箱和工藝室。所以，如果缺少零件，有時就會出現這個問題。

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.

我們的系統，以及我們內部採購的系統處理程序。但我們的系統是完全外發的，所以它們不會來——在大多數情況下，我的意思是，我們在FPD業務上可能會遇到一些問題，你也會遇到類似的情況。在某些情況下，根據交易的實質，沒有合理的豁免條款，你可以推遲部分收入。但這在KLA中只佔很小很小的一部分。

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，在我們的半過程控制業務中，我們交付的是完整的系統。因此，你不會看到遞延收入出現大幅調整，而是隨著業務的推進而突然增加。我們交付的是完整的系統，而這正是我們未來收入的來源。

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

我們將回答 Jefferies 的 Vedvati Shrotre 提出的下一個問題。

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該行業的晶圓產能預計會成長多少。

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的增幅將在15%左右。這如何轉化為產能的提升？能否提供一些細節？我知道，如果您沒有產業視角，或許可以和部分客戶溝通一下，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1000億美元的晶圓製造成本（WFE）。這正在轉化。我沒有確切的數字，但我們看到所有生產節點每月都有新的晶圓投產。記憶體方面，今年的晶圓製造成本有限，肯定比往年低，因為今年更注重技術轉型。

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，你會看到3奈米和5奈米的產能正在成長。 7奈米和10奈米的產能可能持平，但之後會出現28奈米、40奈米以上節點。這方面存在遺留投資。因此，你實際上可以看到幾乎所有生產節點的晶圓投產都在增加。

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，這與WSE的成長一致嗎？這正是我想問的。或者說，這相當於18%的成長？或者您能幫我描述一下這究竟是怎樣的容量成長嗎？

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，我覺得我現在幫不了你。不同節點的資本密集度會有所不同。所以，就特定節點的晶圓生產而言，它並非一美元一美元地計算。

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.

明白了。好的。好的。接下來是我想問的問題。四、五年前，大多數客戶都談到要重複使用大約70%到80%的工具。現在情況有什麼改變嗎？這是否意味著——WFE的大部分支出都用於增加產能？從那時起情況有什麼變化，請您幫我解釋一下。

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。這是產業動態的一個有趣變化。而且，相比整個行業的歷史，這實際上更局限於某個時期。這主要是因為當時在先進節點上啟動的新產品並不多。當時主要只有少數客戶和少數設備。

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.

所以，這種復用是在摩爾定律不再適用的時候發生的。我們現在看到的複用非常少，這有幾個原因。主要原因之一是啟動次數、在這些節點上運行的設備數量，以及越來越多客戶支援這些節點的能力。這意味著我們的客戶在引進新節點時，會全力運行這些技術節點。

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，如果你願意這麼說的話，我們實際上看到的是相反的效果。我們看到了一些產能。我們的一些銷售實際上已經達到了我們過去認為應該完成的水平。而且他們實際上正在購買設備，例如用於 7 奈米製程的設備。儘管新的投資正在推進，但這種情況仍在繼續。

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，就重複使用量而言，其數量顯著下降。我們的客戶認為，這種趨勢將會持續下去，我們將專注於支持這一趨勢。如果你看看全球半導體的整體短缺情況，你就能想像，他們實際上無法承擔這樣的後果，因為他們正在全力運行那些老舊的生產線。我們在服務業務和全球整體製造過程中都看到了這種情況。

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

（操作員指示）我們將回答 Cowen 的 Krish Sankar 提出的下一個問題。

This is Rob Mertens on behalf of Krish.

我是 Krish 的代表 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，從服務業務來看，你們的業務成長不錯。你提到了本季以及整體而言，你們的安裝基礎強勁。

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?

但從配售率機會來看，您曾提到製程控制系統的配售率可能超過75%，PCB的配售率可能達到90%。這個評估合理嗎？服務業務的配售率還有成長空間嗎？

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以及對正常運行時間的需求增加，這確實為我們創造了與客戶推行合約模式、類似訂閱模式的機會。

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，它還具有一些上行潛力，我們將在 6 月的投資者日上討論我們服務業務的一些長期驅動因素及其未來發展軌跡。

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.

但顯然，PCB 接近 90%，很難再有太大的改進，但我認為，考慮到我提到的動態，半 PC 方面仍然有一些機會。

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.

我們在收購業務中擁有的另一個機會是，嘗試在服務方面推動這些工具的更多、更高的附加價值。當然，規模較小的公司在基礎設施方面更難與客戶互動，難以將服務業務轉化為獲利。

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，我們的專業半導體業務、平板業務以及其他一些較小的收購都為我們帶來了機遇，從而拓展了服務機會。我們將在6月就此發表更多聲明，但希望目前這些聲明能有所幫助。

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.

太好了。這很有幫助。然後作為後續問題。就您給出的WFE觀點以及同行們的表態而言，我認為供應問題在下半年會有所緩解。

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?

過去幾個月裡，您看到業界出現了哪些漸進式挑戰？是否存在關鍵零件短缺的具體問題？還是說，這是一個持續不斷的問題，問題出現、處理完畢後，又會出現其他問題？

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。我覺得打地鼠的比喻在這裡很適用。似乎當我們處理某些問題時，其他問題就會顯現出來。中國新冠疫情封鎖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指導意見中處理了這個問題，僅就風險狀況的評估而言。

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，它們都是同樣的問題，我們只是繼續努力，而且團隊已經做得非常好了。

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

我們將回答花旗銀行的 Atif Malik 提出的下一個問題。

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.

第一個問題，或許是想問 Rick。能否介紹一下單電子束 eSL10 平台今年的設計成果與銷售預期？我之所以問這個問題，是因為我們今年參加了 SPIE 會議，發現多電子束平台的靈活性有限，而且與英特爾等邏輯製造商的 HVM 製造存在差距。然後我還有一個後續問題。

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。我想概括一下，電子束偵測的格局並沒有太大的變化。正如我們之前提到的，eSL10 取得了一些成功。但如果你回過頭來，更深入地了解光學檢測和電子束檢測在整體上的平衡，你會發現光學檢測和電子束檢測的比例仍然保持在 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.

所以，我認為電子束的應用越來越多。例如，我們參與的一項獨特應用是光罩檢測。而這正是我們利用新款 8xx 來應對 EUV 領域的一些機會。

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，我們反覆推陳出新，推出最新的電子束檢測技術。總的來說，我們取得了一些成功，但市場規模是相對的。整體而言，電子束檢測市場約佔20%，而光學檢測市場佔80%。

Bren, anything to add?

布倫，還有什麼要補充的嗎？

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，正如您所說，規模化生產才是挑戰所在。即使增加了光束數量，也不一定意味著吞吐量的提升。吞吐量確實會提升一些，但吞吐量差異仍然是一個挑戰，相對於光學解決方案而言，吞吐量差異相當顯著。

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，它僅限於缺陷發現和工程分析類型的案例，並不完全適用於生產環境。我認為，憑藉過去幾年我們在光學圖案檢測領域所展現的優勢，它已經得到了充分的驗證。

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。如果你看看2021年，你會發現在80%的市場份額中，我們的第四代光學產品的銷售額實際上超過了第五代光學產品，而剩下的部分則被不同的電子束廠商瓜分了。

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，它展現了光學檢測的可擴展性，即使在2021年以及2022年，情況也是如此。事實上，我們預期第四代檢測技術在滿足整體檢測需求方面將持續取得顯著成功。

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，我們的觀點是，它們將是互補的。電子束將主要用作工程分析的工具，而不是用於線上檢查的工具。

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?

太好了。接下來是我的後續問題，Bren。你們的代工邏輯晶片銷售中，能否單獨列出前沿製程的銷售額，比如說 10 奈米或以下的銷售額？

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%是尖端技術。當然，也可能包括14奈米、16奈米，但那隻是百分之幾。所以可以肯定地說，大約80%是10奈米及以下製程。

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

我們將從 Piper Sandler 的 Weston Twigg 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?

我只是想跟進一下您關於今年光罩市場成長速度超過市場預期的評論。您能否解釋一下，為什麼去年光罩市場的成長速度略低於預期？是因為客戶結構的原因嗎？還是只是因為市場波動？為什麼您有信心今年的光罩市場成長速度會快於市場預期？

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.

是的，去年，2020年非常強勁，但2021年的成長低於市場。雖然業務仍保持成長，但低於市場水準。今年我們的表現確實更加強勁。業績往往起起伏伏。

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.

如果你考慮的是大眾商店系統，那麼我們賣給大眾商店的Teron系統，都是高價位－高收益的工具。所以平均售價相當高。因此，他們往往會在這個市場上稍微扭曲數據。

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，鑑於代工和邏輯晶片的實力，我們看到EUV和新層級都表現強勁，這將推動更多光罩的需求。顯然，有很多新設計，但也有一些舊設計的重新設計。因此，這推動了對光罩的大量需求。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.

您也提供了晶圓廠中用於污染監測的應用。我們也預計，隨著年底的到來，Rick提到的電子束系統今年將帶來一些收入。

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

所以我認為是這些因素導致了這個現象。

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。 Wes，我想補充一點，我們正在討論光罩偵測儀。但如果你看一下合格光罩的應用本身，你會發現我們在2021年取得的許多成功，以及現在繼續保持的成功，很大程度上是使用第五代EUV光罩來合格化。

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，雖然我們銷售的可能不是快速系統，但它是支援這些系統的應用程序，主要是因為確定這些標線品質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，我們有能力在第五代晶圓上實現這一點。因此，我們看到了來自客戶的巨大推動力，多個客戶，每個基本上都在使用 EUV 的人都在利用第五代來鑑定這些光罩。

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。這實際上引出了一個後續問題。隨著未來2到3年內高淨值（NAV）的出現，您是否已經準備好了解決方案，例如利用您的光學檢測平台？或者您需要開發一些新穎的解決方案？

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.

我們持續改進平台以支援它。我們也在持續開發額外的光罩功能來支援它。所以我認為答案是兩者兼具。

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，第五代晶圓的優勢在於這些工具已經存在。所以現在他們可以偵測這些工具，儘管吞吐量較低。當然，我們正在努力繼續提升這種能力，不僅透過增加硬件，還透過我們在機器學習、人工智慧和演算法前端方面所做的大量工作來支援這些應用。

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。我想您也知道，我們也在研發下一代光罩偵測技術。

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.

所以我們得到了相當多的 - 我認為我們公司內部的兩個最大的投資項目都在應對未來幾年的光罩檢查挑戰。

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

謝謝你，韋斯，看來我們的通話到此結束了。

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.

我只是想再次提醒大家，我們希望能在 6 月 16 日在紐約親自見到您。如果您沒有邀請函，請聯絡 KLA IR 團隊，我們會為您準備一份。

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

說完這些，我會把電話轉回給大衛，讓他做最後的陳述。

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.

KLA Corporation 2022 年 3 月季度收益電話會議及網路直播到此結束。請您暫時斷開連接，祝您擁有美好的一天。