Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended December 26, 2021
FREMONT, Calif., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the
About this update from Lam Research Corporation
[{"type":"text","content":"FREMONT, Calif., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended December 26, 2021 (the “December 2021 quarter”). Highlights for the December 2021 quarter were as follows: Revenue of $4.23 billion.U.S. GAAP gross margin of 46.8%, U.S. GAAP operating income as a percentage of revenue of 31.7%, and U.S. GAAP diluted EPS of $8.44.Non-GAAP gross margin of 46.8%, non-GAAP operating income as a percentage of revenue of 32.0%, and non-GAAP diluted EPS of $8.53. Key Financial Data for the Quarters Ended December 26, 2021 and September 26, 2021 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP December 2021 September 2021 Change Q/QRevenue $4,226,604 $4,304,465 - 2%Gross margin as percentage of revenue 46.8% 45.9% + 90 bpsOperating income as percentage of revenue 31.7% 31.9% - 20 bpsDiluted EPS $8.44 $8.27 + 2% Non-GAAP December 2021 September 2021 Change Q/QRevenue $4,226,604 $4,304,465 - 2%Gross margin as percentage of revenue 46.8% 46.0% + 80 bpsOperating income as percentage of revenue 32.0% 32.4% - 40 bpsDiluted EPS $8.53 $8.36 + 2% U.S. GAAP Financial Results For the December 2021 quarter, revenue was $4,227 million, gross margin was $1,978 million, or 46.8% of revenue, operating expenses were $640 million, operating income was 31.7% of revenue, and net income was $1,195 million, or $8.44 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,304 million, gross margin of $1,977 million, or 45.9% of revenue, operating expenses of $605 million, operating income of 31.9% of revenue, and net income of $1,180 million, or $8.27 per diluted share, for the quarter ended September 26, 2021 (the “September 2021 quarter”). Non-GAAP Financial Results For the December 2021 quarter, non-GAAP gross margin was $1,979 million, or 46.8% of revenue, non-GAAP operating expenses were $627 million, non-GAAP operating income was 32.0% of revenue, and non-GAAP net income was $1,207 million, or $8.53 per diluted share. This compares to non-GAAP gross margin of $1,980 million, or 46.0% of revenue, non-GAAP operating expenses of $586 million, non-GAAP operating income of 32.4% of revenue, and non-GAAP net income of $1,192 million, or $8.36 per diluted share, for the September 2021 quarter. “Lam delivered...