Quarterly report pursuant to Section 13 or 15(d)

Stock Repurchase Program

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Stock Repurchase Program
 9 Months Ended
Mar. 31, 2016
Equity [Abstract]  
STOCK REPURCHASE PROGRAM
NOTE 8 – STOCK REPURCHASE PROGRAM
The Company’s Board of Directors has authorized a program for the Company to repurchase shares of the Company’s common stock. The intent of this program is to offset the dilution from KLA-Tencor’s equity incentive plans and employee stock purchase plan, as well as to return excess cash to the Company’s stockholders. Subject to market conditions, applicable legal requirements and other factors, the repurchases were made in the open market in compliance with applicable securities laws, including the Securities Exchange Act of 1934 and the rules promulgated thereunder, such as Rule 10b-18. As of March 31, 2016, an aggregate of approximately 5.9 million shares were available for repurchase under the Company’s repurchase program. In connection with entering into the Merger Agreement with Lam Research, the Company suspended further repurchases under its repurchase program effective October 21, 2015.
Share repurchases for the indicated periods (based on the trade date of the applicable repurchase) were as follows:
 
Three months ended
March 31,
 
Nine months ended
March 31,
(In thousands)
2016
 
2015
 
2016
 
2015
Number of shares of common stock repurchased
—

 
2,644

 
3,445

 
6,506

Total cost of repurchases
$
—

 
$
168,943

 
$
175,743

 
$
447,892


As of March 31, 2015, the Company had repurchased 218,600 shares for $12.9 million, which repurchases had not settled prior to March 31, 2015. The amount was recorded as a component of other current liabilities for the period presented.