Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended December 27, 2020
FREMONT, Calif., Jan. 27, 2021 (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. 27, 2021 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended December 27, 2020 (the “December 2020 quarter”). Highlights for the December 2020 quarter were as follows: Revenue of $3.46 billion.U.S. GAAP gross margin of 46.4%, U.S. GAAP operating income as a percentage of revenue of 29.2%, and U.S. GAAP diluted EPS of $5.96.Non-GAAP gross margin of 46.6%, non-GAAP operating income as a percentage of revenue of 30.3%, and non-GAAP diluted EPS of $6.03. Key Financial Data for the Quarters Ended December 27, 2020 and September 27, 2020 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP December 2020 September 2020 Change Q/QRevenue $3,456,237 $3,177,080 + 9%Gross margin as percentage of revenue 46.4% 47.4% - 100 bps Operating income as percentage of revenue 29.2% 30.2% - 100 bps Diluted EPS $5.96 $5.59 + 7% Non-GAAP December 2020 September 2020 Change Q/QRevenue $3,456,237 $3,177,080 + 9%Gross margin as percentage of revenue 46.6% 47.5% - 90 bps Operating income as percentage of revenue 30.3% 31.1% - 80 bps Diluted EPS $6.03 $5.67 + 6% U.S. GAAP Financial Results For the December 2020 quarter, revenue was $3,456 million, gross margin was $1,604 million, or 46.4% of revenue, operating expenses were $594 million, operating income was 29.2% of revenue, and net income was $869 million, or $5.96 per diluted share on a U.S. GAAP basis. This compares to revenue of $3,177 million, gross margin of $1,506 million, or 47.4% of revenue, operating expenses of $545 million, operating income of 30.2% of revenue, and net income of $823 million, or $5.59 per diluted share, for the quarter ended September 27, 2020 (the “September 2020 quarter”). Non-GAAP Financial Results For the December 2020 quarter, non-GAAP gross margin was $1,611 million, or 46.6% of revenue, non-GAAP operating expenses were $563 million, non-GAAP operating income was 30.3% of revenue, and non-GAAP net income was $880 million, or $6.03 per diluted share. This compares to non-GAAP gross margin of $1,511 million, or 47.5% of revenue, non-GAAP operating expenses of $523 million, non-GAAP operating income of 31.1% of revenue, and non-GAAP net income of $835 million, or $5.67 per diluted share, for the September 2020 quarter. “Lam’s December ...