Quarterly report pursuant to Section 13 or 15(d)

Stock Repurchase Program

v3.8.0.1
Stock Repurchase Program
 3 Months Ended
Sep. 30, 2017
Equity [Abstract]  
STOCK REPURCHASE PROGRAM
NOTE 9 – 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 September 30, 2017, an aggregate of approximately 5.2 million shares were available for repurchase under the Company’s repurchase program.
Share repurchases for the indicated periods (based on the trade date of the applicable repurchase) were as follows:
 
Three months ended
September 30,
(In thousands)
2017
 
2016
Number of shares of common stock repurchased
433

 
—

Total cost of repurchases
$
40,775

 
$
—


As of September 30, 2017, the Company had repurchased 8,079 shares for $0.8 million, which repurchases had not settled prior to September 30, 2017. The amount was recorded as a component of other current liabilities for the period presented.