Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended December 29, 2019
FREMONT, Calif., Jan. 29, 2020 (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. 29, 2020 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended December 29, 2019 (the “December 2019 quarter”).\n Highlights for the December 2019 quarter were as follows: Revenue of $2.58 billion.U.S. GAAP gross margin of 45.7%, U.S. GAAP operating income as a percentage of revenue of 26.6%, and U.S. GAAP diluted EPS of $3.43.Non-GAAP gross margin of 45.7%, non-GAAP operating income as a percentage of revenue of 27.1%, and non-GAAP diluted EPS of $4.01. Key Financial Data for the Quarters EndedDecember 29, 2019 and September 29, 2019(in thousands, except per-share data, percentages, and basis points) U.S. GAAP December 2019 September 2019 Change Q/QRevenue $2,583,501 $2,165,746 + 19%Gross margin as percentage of revenue 45.7% 45.3% + 40 bpsOperating income as percentage of revenue 26.6% 24.8% + 180 bpsDiluted EPS $3.43 $3.09 + 11% Non-GAAP December 2019 September 2019 Change Q/QRevenue $2,583,501 $2,165,746 + 19%Gross margin as percentage of revenue 45.7% 45.4% + 30 bpsOperating income as percentage of revenue 27.1% 25.5% + 160 bpsDiluted EPS $4.01 $3.18 + 26% U.S. GAAP Financial Results For the December 2019 quarter, revenue was $2,584 million, gross margin was $1,180 million, or 45.7% of revenue, operating expenses were $493 million, operating income was 26.6% of revenue, and net income was $515 million, or $3.43 per diluted share on a U.S. GAAP basis. This compares to revenue of $2,166 million, gross margin of $982 million, or 45.3% of revenue, operating expenses of $444 million, operating income of 24.8% of revenue, and net income of $466 million, or $3.09 per diluted share, for the quarter ended September 29, 2019 (the “September 2019 quarter”). Non-GAAP Financial Results For the December 2019 quarter, non-GAAP gross margin was $1,181 million or 45.7% of revenue, non-GAAP operating expenses were $481 million, non-GAAP operating income was 27.1% of revenue, and non-GAAP net income was $602 million, or $4.01 per diluted share. This compares to non-GAAP gross margin of $983 million or 45.4% of revenue, non-GAAP operating expenses of $431 million, non-GAAP operating income of 25.5% of revenue, and non-GAAP net income of $480 million, or $3.18 per diluted share for the September 2019 quarter. “Lam closed out calenda...