MILPITAS, CA – KLA reported fiscal second quarter revenue of $1.65 billion, an increase of 9.4% year-over-year and 7.3% sequentially.

For the period ended Dec. 31, the firm posted net income of $457 million, up. 19.9% compared to the same period the previous year, an 8.6% sequential increase.

"Our results for the December quarter and calendar 2020 demonstrate continued strong demand from customers, exceptional execution by our global teams, and the enduring strength and resiliency of our KLA operating model in guiding our strategic objectives," said Rick Wallace, president and CEO of KLA. "In the December quarter we also generated record free cash flow, while continuing our commitment to capital returns to our shareholders."

For the fiscal third quarter ending in March, KLA expects revenue between $1.665 billion and $1.815 billion.

KLA is the parent company of Orbotech.

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