Lam Research Corporation Reports Financial Results for the Quarter Ended June 29, 2025
Lam Research (NASDAQ:LRCX) reported strong financial results for Q2 2025, with revenue reaching $5.17 billion, up 9.6% quarter-over-quarter. The company achieved a U.S. GAAP gross margin of 50.1% and diluted EPS of $1.35, marking a 31.1% increase from the previous quarter.
Key performance metrics include operating income at 33.7% of revenue and cash reserves increasing to $6.4 billion. Geographic revenue distribution shows China leading at 35%, followed by Korea (22%) and Taiwan (19%). The company provided guidance for Q3 2025, projecting revenue of $5.20 billion 卤$300 million.
CEO Tim Archer highlighted the company's strong performance in the AI era, emphasizing Lam's strategic positioning in deposition and etch technologies. The company maintains a solid balance sheet with growing deferred revenue of $2.68 billion, up from $2.01 billion in the previous quarter.
Lam Research (NASDAQ:LRCX) ha riportato risultati finanziari solidi per il secondo trimestre del 2025, con ricavi pari a 5,17 miliardi di dollari, in aumento del 9,6% rispetto al trimestre precedente. L'azienda ha raggiunto un margine lordo U.S. GAAP del 50,1% e un utile diluito per azione (EPS) di 1,35 dollari, segnando un incremento del 31,1% rispetto al trimestre precedente.
Tra i principali indicatori di performance figurano un reddito operativo pari al 33,7% dei ricavi e riserve di cassa cresciute fino a 6,4 miliardi di dollari. La distribuzione geografica dei ricavi vede la Cina in testa con il 35%, seguita da Corea (22%) e Taiwan (19%). L'azienda ha fornito una previsione per il terzo trimestre 2025, stimando ricavi di 5,20 miliardi di dollari 卤300 milioni.
Il CEO Tim Archer ha sottolineato la forte performance dell'azienda nell'era dell'IA, evidenziando la posizione strategica di Lam nelle tecnologie di deposizione e incisione. L'azienda mantiene un bilancio solido con un ricavo differito in crescita, pari a 2,68 miliardi di dollari, rispetto ai 2,01 miliardi del trimestre precedente.
Lam Research (NASDAQ:LRCX) report贸 s贸lidos resultados financieros para el segundo trimestre de 2025, con ingresos que alcanzaron los 5.17 mil millones de d贸lares, un aumento del 9.6% trimestre a trimestre. La compa帽铆a logr贸 un margen bruto U.S. GAAP del 50.1% y una utilidad diluida por acci贸n (EPS) de 1.35 d贸lares, lo que representa un incremento del 31.1% respecto al trimestre anterior.
Entre las m茅tricas clave se incluyen un ingreso operativo del 33.7% de los ingresos y reservas de efectivo que aumentaron a 6.4 mil millones de d贸lares. La distribuci贸n geogr谩fica de ingresos muestra a China liderando con el 35%, seguida por Corea (22%) y Taiw谩n (19%). La compa帽铆a proporcion贸 una gu铆a para el tercer trimestre de 2025, proyectando ingresos de 5.20 mil millones de d贸lares 卤300 millones.
El CEO Tim Archer destac贸 el fuerte desempe帽o de la empresa en la era de la IA, enfatizando la posici贸n estrat茅gica de Lam en tecnolog铆as de deposici贸n y grabado. La compa帽铆a mantiene un balance s贸lido con ingresos diferidos en crecimiento, de 2.68 mil millones de d贸lares, frente a los 2.01 mil millones del trimestre anterior.
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CEO 韺� 鞎勳矘電� AI 鞁滊寑鞐愳劀 須岇偓鞚� 臧曤牓頃� 靹标臣毳� 臧曥“頃橂┌, Lam鞚� 歃濎癌 氚� 鞁濌皝 旮办垹 攵勳暭鞐愳劀 鞝勲灥鞝侅溂搿� 鞖办渼鞐� 鞛堨潓鞚� 鞏戈笁頄堨姷雼堧嫟. 須岇偓電� 鞝勲秳旮� 20鞏� 1觳滊 雼煬鞐愳劀 歃濌皜頃� 26鞏� 8觳滊 雼煬鞚� 鞚挫棸 靾橃澋鞚� 氤挫湢頃橂┌ 瓴碃頃� 鞛 甑“毳� 鞙犾頃橁碃 鞛堨姷雼堧嫟.
Lam Research (NASDAQ:LRCX) a annonc茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, avec un chiffre d'affaires atteignant 5,17 milliards de dollars, en hausse de 9,6 % par rapport au trimestre pr茅c茅dent. La soci茅t茅 a r茅alis茅 une marge brute U.S. GAAP de 50,1 % et un b茅n茅fice par action dilu茅 (BPA) de 1,35 $, soit une augmentation de 31,1 % par rapport au trimestre pr茅c茅dent.
Les indicateurs cl茅s incluent un r茅sultat op茅rationnel repr茅sentant 33,7 % du chiffre d'affaires et des r茅serves de tr茅sorerie en hausse 脿 6,4 milliards de dollars. La r茅partition g茅ographique du chiffre d'affaires montre la Chine en t锚te avec 35 %, suivie de la Cor茅e (22 %) et de Ta茂wan (19 %). La soci茅t茅 a fourni des pr茅visions pour le troisi猫me trimestre 2025, projetant un chiffre d'affaires de 5,20 milliards de dollars 卤300 millions.
Le PDG Tim Archer a soulign茅 la forte performance de l'entreprise 脿 l'猫re de l'IA, mettant en avant la position strat茅gique de Lam dans les technologies de d茅p么t et de gravure. L'entreprise maintient un bilan solide avec un chiffre d'affaires diff茅r茅 en croissance, s'茅levant 脿 2,68 milliards de dollars, contre 2,01 milliards au trimestre pr茅c茅dent.
Lam Research (NASDAQ:LRCX) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025, mit einem Umsatz von 5,17 Milliarden US-Dollar, was einem Anstieg von 9,6 % gegen眉ber dem Vorquartal entspricht. Das Unternehmen erzielte eine U.S. GAAP-Bruttomarge von 50,1 % und einen verw盲sserten Gewinn je Aktie (EPS) von 1,35 US-Dollar, was eine Steigerung von 31,1 % gegen眉ber dem Vorquartal darstellt.
Zu den wichtigsten Leistungskennzahlen z盲hlen ein Operatives Ergebnis von 33,7 % des Umsatzes und Barmittelbest盲nde, die auf 6,4 Milliarden US-Dollar anstiegen. Die geografische Umsatzverteilung zeigt China mit 35 % an der Spitze, gefolgt von Korea (22 %) und Taiwan (19 %). Das Unternehmen gab eine Prognose f眉r das dritte Quartal 2025 ab und erwartet einen Umsatz von 5,20 Milliarden US-Dollar 卤300 Millionen.
CEO Tim Archer hob die starke Leistung des Unternehmens im KI-Zeitalter hervor und betonte die strategische Positionierung von Lam in den Technologien f眉r Abscheidung und 脛tzen. Das Unternehmen verf眉gt 眉ber eine solide Bilanz mit einem wachsenden aufgeschobenen Umsatz von 2,68 Milliarden US-Dollar, gegen眉ber 2,01 Milliarden im Vorquartal.
- Revenue increased 9.6% quarter-over-quarter to $5.17 billion
- Gross margin improved by 110 basis points to 50.1%
- Diluted EPS grew 31.1% to $1.35
- Cash reserves increased to $6.4 billion from $5.5 billion
- Deferred revenue grew to $2.68 billion from $2.01 billion
- Heavy geographic concentration with 35% of revenue from China poses potential risk
- Operating expenses increased by 12.9% quarter-over-quarter to $849 million
Insights
Lam Research delivered strong Q4 2025 results with 9.6% revenue growth, margin expansion, and 31.1% EPS growth.
Lam Research posted impressive quarterly results with revenue reaching
Particularly noteworthy is the substantial earnings growth, with diluted EPS jumping
The company's balance sheet continues to strengthen, with cash and equivalents increasing to
Deferred revenue grew substantially to
The geographic revenue breakdown reveals Lam's significant exposure to China, which accounts for
Looking ahead, management's guidance for the September quarter projects revenue of
CEO Tim Archer's comments about "deposition and etch criticality intensifying in the AI era" highlight Lam's strategic positioning to benefit from AI-driven semiconductor demand, particularly as chip designers require more sophisticated manufacturing processes to support AI workloads.
Highlights for the June 2025 quarter were as follows:
- Revenue of
$5.17 billion U.S. GAAP gross margin of50.1% ,U.S. GAAP operating income as a percentage of revenue of33.7% , andU.S. GAAP diluted EPS of$1.35 - Non-GAAP gross margin of
50.3% , non-GAAP operating income as a percentage of revenue of34.4% , and non-GAAP diluted EPS of$1.33
Key Financial Data for the Quarters Ended听 | ||||||
June 2025 | March 2025 | Change Q/Q | ||||
Revenue | $听听听听听听听听听听听听听听听 5,171,393 | $听听听听听听听听听听听听听听听 4,720,175 | +9.6听% | |||
Gross margin as percentage of revenue | 50.1听% | 49.0听% | + 110 bps | |||
Operating income as percentage of revenue | 33.7听% | 33.1听% | + 60 bps | |||
Diluted EPS | $听听听听听听听听听听听听听听听听听听听听听听听听听 1.35 | $听听听听听听听听听听听听听听听听听听听听听听听听听 1.03 | +31.1听% | |||
Non-GAAP | ||||||
June 2025 | March 2025 | Change Q/Q | ||||
Revenue | $听听听听听听听听听听听听听听听 5,171,393 | $听听听听听听听听听听听听听听听 4,720,175 | +9.6听% | |||
Gross margin as percentage of revenue | 50.3听% | 49.0听% | + 130 bps | |||
Operating income as percentage of revenue | 34.4听% | 32.8听% | + 160 bps | |||
Diluted EPS | $听听听听听听听听听听听听听听听听听听听听听听听听听 1.33 | $听听听听听听听听听听听听听听听听听听听听听听听听听 1.04 | +27.9听% | |||
For the June 2025 quarter, revenue was
Non-GAAP Financial Results
For the June 2025 quarter, non-GAAP gross margin was
"Lam delivered another solid quarter, highlighted by strong gross margins and record EPS," said Tim Archer, Lam Research's President and Chief Executive Officer. "With deposition and etch criticality intensifying in the AI era, we are executing on our long-term strategic initiatives and leveraging our differentiated product portfolio to position Lam for outperformance."
Balance Sheet and Cash Flow Results
Cash, cash equivalents, and restricted cash balances increased to
Deferred revenue at the end of the June 2025 quarter increased to
Revenue
The geographic distribution of revenue during the June 2025 quarter is shown in the following table:
Region | Revenue |
35听% | |
22听% | |
19听% | |
14听% | |
6听% | |
2听% | |
2听% |
The following table presents revenue disaggregated between systems and customer support-related revenue:
Three Months Ended | |||||
June 29, | March 30, | June 30, | |||
(In thousands) | |||||
Systems revenue | $听听听听听 3,437,625 | $听听听听听 3,035,276 | $听听听听听 2,169,885 | ||
Customer support-related revenue and other | 1,733,768 | 1,684,899 | 1,701,622 | ||
$听听听听听 5,171,393 | $听听听听听 4,720,175 | $听听听听听 3,871,507 | |||
Systems revenue includes sales of new leading-edge equipment in deposition, etch and other wafer fabrication markets.
Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant庐 product line.
Outlook
For the quarter ended September听28, 2025, Lam is providing the following guidance:
Reconciling | Non-GAAP | |||||||||
Revenue | +/- | 鈥� | +/- | |||||||
Gross margin as a percentage of revenue | 49.9听% | +/- | 1听% | $听听 2.7 | Million | 50.0听% | +/- | 1听% | ||
Operating income as a percentage of revenue | 33.9听% | +/- | 1听% | $听听 3.2 | Million | 34.0听% | +/- | 1听% | ||
Net income per diluted share | +/- | $听听 3.7 | Million | +/- | ||||||
Diluted share count | 1.27 Billion | 鈥� | 1.27 Billion | |||||||
The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below.
- Gross margin as a percentage of revenue - amortization related to intangible assets acquired through business combinations,
$2.7 million - Operating income as a percentage of revenue - amortization related to intangible assets acquired through business combinations,
$3.2 million - Net income per diluted share - amortization related to intangible assets acquired though business combinations,
$3.2 million $0.7 million $0.2 million $3.7 million
Use of Non-GAAP Financial Results
In addition to
Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. Tables presenting reconciliations of non-GAAP results to
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; the significance of deposition and etch in the AI era; our execution on our long-term strategic initiatives; the competitive positioning of our product portfolio and overall business; and our prospects for outperformance. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10鈥揔 for the fiscal year ended June 30, 2024, and our quarterly report on Form 10鈥換 for the fiscal quarter ended March 30, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500庐 company headquartered in
Consolidated Financial Tables Follow.
听
LAM RESEARCH CORPORATION | |||||||||
Three Months Ended | Twelve Months Ended | ||||||||
June 29, | March 30, | June 30, | June 29, | June 30, | |||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (1) | |||||
Revenue | $听 5,171,393 | $听 4,720,175 | $听 3,871,507 | ||||||
Cost of goods sold | 2,581,684 | 2,406,489 | 2,026,133 | 9,456,532 | 7,809,220 | ||||
Restructuring charges, net - cost of goods sold | 鈥� | 鈥� | 5,276 | 鈥� | 43,375 | ||||
Total cost of goods sold | 2,581,684 | 2,406,489 | 2,031,409 | 9,456,532 | 7,852,595 | ||||
Gross margin | 2,589,709 | 2,313,686 | 1,840,098 | 8,979,059 | 7,052,791 | ||||
Gross margin as a percent of revenue | 50.1听% | 49.0听% | 47.5听% | 48.7听% | 47.3听% | ||||
Research and development | 580,178 | 525,904 | 497,829 | 2,096,387 | 1,902,444 | ||||
Selling, general and administrative | 268,403 | 226,023 | 216,477 | 981,704 | 868,247 | ||||
Restructuring charges, net - operating expenses | 鈥� | 鈥� | (768) | 鈥� | 18,187 | ||||
Total operating expenses | 848,581 | 751,927 | 713,538 | 3,078,091 | 2,788,878 | ||||
Operating income | 1,741,128 | 1,561,759 | 1,126,560 | 5,900,968 | 4,263,913 | ||||
Operating income as a percent of revenue | 33.7听% | 33.1听% | 29.1听% | 32.0听% | 28.6听% | ||||
Other income (expense), net | 37,853 | (25,035) | 27,796 | 57,161 | 96,309 | ||||
Income before income taxes | 1,778,981 | 1,536,724 | 1,154,356 | 5,958,129 | 4,360,222 | ||||
Income tax expense | (58,893) | (206,057) | (134,074) | (599,912) | (532,450) | ||||
Net income | $听 1,720,088 | $听 1,330,667 | $听 1,020,282 | $听听 5,358,217 | $听听 3,827,772 | ||||
Net income per share: | |||||||||
Basic | $听听听听听听听听听听听 1.35 | $听听听听听听听听听听听 1.04 | $听听听听听听听听听听听 0.78 | $听听听听听听听听听听听听 4.17 | $听听听听听听听听听听听听 2.91 | ||||
Diluted | $听听听听听听听听听听听 1.35 | $听听听听听听听听听听听 1.03 | $听听听听听听听听听听听 0.78 | $听听听听听听听听听听听听 4.15 | $听听听听听听听听听听听听 2.90 | ||||
Number of shares used in per share calculations: | |||||||||
Basic | 1,274,279 | 1,283,779 | 1,306,333 | 1,286,101 | 1,314,102 | ||||
Diluted | 1,276,933 | 1,288,100 | 1,311,118 | 1,290,142 | 1,319,949 | ||||
Cash dividend declared per common share | $听听听听听听听听听听听 0.23 | $听听听听听听听听听听听 0.23 | $听听听听听听听听听听听 0.20 | $听听听听听听听听听听听听 0.92 | $听听听听听听听听听听听听 0.80 | ||||
(1) | Derived from audited financial statements |
听
LAM RESEARCH CORPORATION | |||||
June 29, | March 30, | June 30, | |||
(unaudited) | (unaudited) | (1) | |||
ASSETS | |||||
Cash and cash equivalents | $听听听听听听听听听听听听听 6,390,659 | $听听听听听听听听听听听听听 5,450,718 | $听听听听听听听听听听听听听 5,847,856 | ||
Accounts receivable, net | 3,378,071 | 3,228,182 | 2,519,250 | ||
Inventories | 4,307,991 | 4,463,275 | 4,217,924 | ||
Prepaid expenses and other current assets | 440,274 | 318,147 | 298,190 | ||
Total current assets | 14,516,995 | 13,460,322 | 12,883,220 | ||
Property and equipment, net | 2,428,744 | 2,372,203 | 2,154,518 | ||
Goodwill and intangible assets | 1,808,685 | 1,795,248 | 1,765,073 | ||
Other assets | 2,590,836 | 2,340,537 | 1,941,917 | ||
Total assets | $听听听听听听听听听听听 21,345,260 | $听听听听听听听听听听听 19,968,310 | $听听听听听听听听听听听 18,744,728 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Current portion of long-term debt and finance lease obligations | $听听听听听听听听听听听听听听听听听 754,311 | $听听听听听听听听听听听听听听听听听 754,306 | $听听听听听听听听听听听听听听听听听 504,814 | ||
Other current liabilities | 5,814,114 | 4,735,539 | 3,833,624 | ||
Total current liabilities | 6,568,425 | 5,489,845 | 4,338,438 | ||
Long-term debt and finance lease obligations | 3,730,194 | 3,730,034 | 4,478,520 | ||
Income taxes payable | 603,412 | 690,660 | 813,304 | ||
Other long-term liabilities | 581,610 | 546,666 | 575,012 | ||
Total liabilities | 11,483,641 | 10,457,205 | 10,205,274 | ||
Stockholders' equity (2) | 9,861,619 | 9,511,105 | 8,539,454 | ||
Total liabilities and stockholders' equity | $听听听听听听听听听听听 21,345,260 | $听听听听听听听听听听听 19,968,310 | $听听听听听听听听听听听 18,744,728 | ||
(1) | Derived from audited financial statements |
(2) | Common shares issued and outstanding were 1,268,740 as of June听29, 2025, 1,282,957 as of March 30, 2025, and 1,303,769 as of June听30, 2024 |
听
LAM RESEARCH CORPORATION | |||||||||
Three Months Ended | Twelve Months Ended | ||||||||
June 29, | March 30, | June 30, | June 29, | June 30, | |||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | (1) | |||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||
Net income | $听听听听听听听 1,720,088 | $听听听听听听听 1,330,667 | $听听听听听听听 1,020,282 | $听听听听听听听 5,358,217 | $听听听听听听听 3,827,772 | ||||
Adjustments to reconcile net income to net cash provided by | |||||||||
Depreciation and amortization | 98,439 | 97,343 | 88,357 | 386,277 | 359,699 | ||||
Deferred income taxes | (151,679) | (19,992) | (61,375) | (363,247) | (198,981) | ||||
Equity-based compensation expense | 94,286 | 87,115 | 79,092 | 343,371 | 293,058 | ||||
Other, net | 14,240 | 1,654 | (3,999) | 6,845 | 10,243 | ||||
Changes in operating assets and liabilities | 778,814 | (188,124) | (259,927) | 441,801 | 360,478 | ||||
Net cash provided by operating activities | 2,554,188 | 1,308,663 | 862,430 | 6,173,264 | 4,652,269 | ||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
Capital expenditures and intangible assets | (172,191) | (288,058) | (100,748) | (759,186) | (396,670) | ||||
Net maturities and sale of available-for-sale securities | 鈥� | 鈥� | 鈥� | 鈥� | 37,766 | ||||
Other, net | 42,940 | (4,857) | (865) | 51,094 | (11,710) | ||||
Net cash used for investing activities | (129,251) | (292,915) | (101,613) | (708,092) | (370,614) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Principal payments on debt, including finance lease | (1,485) | (504,037) | (949) | (507,488) | (256,104) | ||||
Treasury stock purchases, including excise tax payments | (1,292,277) | (435,321) | (373,550) | (3,422,321) | (2,842,807) | ||||
Dividends paid | (295,207) | (295,716) | (261,462) | (1,149,542) | (1,018,915) | ||||
Reissuance of treasury stock related to employee stock | 79,556 | 鈥� | 66,885 | 140,113 | 119,966 | ||||
Proceeds from issuance of common stock | 696 | 1,993 | 2,796 | 2,452 | 15,553 | ||||
Other, net | (820) | 526 | (7,871) | 143 | (13,543) | ||||
Net cash used for financing activities | (1,509,537) | (1,232,555) | (574,151) | (4,936,643) | (3,995,850) | ||||
Effect of exchange rate changes on cash, cash equivalents, | 29,284 | 2,380 | (9,616) | 28,324 | (22,374) | ||||
Net change in cash, cash equivalents, and restricted cash | 944,684 | (214,427) | 177,050 | 556,853 | 263,431 | ||||
Cash, cash equivalents, and restricted cash at beginning of | 5,462,972 | 5,677,399 | 5,673,753 | 5,850,803 | 5,587,372 | ||||
Cash, cash equivalents, and restricted cash at end of period | $听听听听听听听 6,407,656 | $听听听听听听听 5,462,972 | $听听听听听听听 5,850,803 | $听听听听听听听 6,407,656 | $听听听听听听听 5,850,803 | ||||
(1) | Derived from audited financial statements |
(2) | Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets |
听听听听听听听听听听听听听听听听听听听听听听听听听
Non-GAAP Financial Summary | |||
Three Months Ended | |||
June 29, | March 30, | ||
Revenue | $听听听听听听 5,171,393 | $听听听听听听 4,720,175 | |
Gross margin | $听听听听听听 2,600,952 | $听听听听听听 2,312,391 | |
Gross margin as percentage of revenue | 50.3听% | 49.0听% | |
Operating expenses | $听听听听听听听听听 822,375 | $听听听听听听听听听 763,336 | |
Operating income | $听听听听听听 1,778,577 | $听听听听听听 1,549,055 | |
Operating income as a percentage of revenue | 34.4听% | 32.8听% | |
Net income | $听听听听听听 1,697,716 | $听听听听听听 1,336,006 | |
Net income per diluted share | $听听听听听听听听听听听听听听听 1.33 | $听听听听听听听听听听听听听听听 1.04 | |
Shares used in per share calculation - diluted | 1,276,933 | 1,288,100 | |
听
Reconciliation of | |||
Three Months Ended | |||
June 29, | March 30, | ||
$听听听听听听听听听 1,720,088 | $听听听听听听听听听 1,330,667 | ||
Pre-tax non-GAAP items: | |||
Amortization related to intangible assets acquired through certain business combinations - cost of goods sold | 2,687 | 2,687 | |
Elective deferred compensation ("EDC")听 related liability valuation increase (decrease) - cost of goods sold | 8,556 | (3,982) | |
EDC related liability valuation increase (decrease) - research and development | 15,401 | (7,168) | |
Amortization related to intangible assets acquired through certain business combinations - selling, general and | 538 | 538 | |
EDC related liability valuation increase (decrease) - selling, general and administrative | 10,267 | (4,779) | |
Amortization of note discounts - other income (expense), net | 689 | 759 | |
(Gain) loss on EDC related asset - other income (expense), net | (34,102) | 16,903 | |
Net income tax (benefit) expense on non-GAAP items | (1,668) | 381 | |
Income tax benefit on the conclusion of certain tax matters | (24,740) | 鈥� | |
Non-GAAP net income | $听听听听听听听听听 1,697,716 | $听听听听听听听听听 1,336,006 | |
Non-GAAP net income per diluted share | $听听听听听听听听听听听听听听听听听听 1.33 | $听听听听听听听听听听听听听听听听听听 1.04 | |
$听听听听听听听听听听听听听听听听听听 1.35 | $听听听听听听听听听听听听听听听听听听 1.03 | ||
1,276,933 | 1,288,100 | ||
听
Reconciliation of | |||
Three Months Ended | |||
June 29, | March 30, | ||
$听听听听听听 2,589,709 | $听听听听听听 2,313,686 | ||
Pre-tax non-GAAP items: | |||
Amortization related to intangible assets acquired through certain business combinations | 2,687 | 2,687 | |
EDC related liability valuation increase (decrease) | 8,556 | (3,982) | |
Non-GAAP gross margin | $听听听听听听 2,600,952 | $听听听听听听 2,312,391 | |
50.1听% | 49.0听% | ||
Non-GAAP gross margin as a percentage of revenue | 50.3听% | 49.0听% | |
$听听听听听听听听听 848,581 | $听听听听听听听听听 751,927 | ||
Pre-tax non-GAAP items: | |||
Amortization related to intangible assets acquired through certain business combinations | (538) | (538) | |
EDC related liability valuation (increase) decrease | (25,668) | 11,947 | |
Non-GAAP operating expenses | $听听听听听听听听听 822,375 | $听听听听听听听听听 763,336 | |
$听听听听听听 1,741,128 | $听听听听听听 1,561,759 | ||
Non-GAAP operating income | $听听听听听听 1,778,577 | $听听听听听听 1,549,055 | |
33.7听% | 33.1听% | ||
Non-GAAP operating income as a percent of revenue | 34.4听% | 32.8听% | |
Lam Research Corporation Contact:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: [email protected]
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