Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended June 26, 2022
FREMONT, Calif., July 27, 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., July 27, 2022 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended June 26, 2022 (the “June 2022 quarter”). Highlights for the June 2022 quarter were as follows: Revenue of $4.64 billion.U.S. GAAP gross margin of 45.3%, U.S. GAAP operating income as a percentage of revenue of 31.9%, and U.S. GAAP diluted EPS of $8.74.Non-GAAP gross margin of 45.2%, non-GAAP operating income as a percentage of revenue of 31.5%, and non-GAAP diluted EPS of $8.83. Key Financial Data for the Quarters Ended June 26, 2022 and March 27, 2022 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP June 2022 March 2022 Change Q/QRevenue $4,635,554 $4,060,416 +14%Gross margin as percentage of revenue 45.3% 44.7% + 60 bps Operating income as percentage of revenue 31.9% 29.4% + 250 bps Diluted EPS $8.74 $7.30 +20% Non-GAAP June 2022 March 2022 Change Q/QRevenue $4,635,554 $4,060,416 +14%Gross margin as percentage of revenue 45.2% 44.7% + 50 bps Operating income as percentage of revenue 31.5% 29.4% + 210 bps Diluted EPS $8.83 $7.40 +19% U.S. GAAP Financial Results For the June 2022 quarter, revenue was $4,636 million, gross margin was $2,101 million, or 45.3% of revenue, operating expenses were $621 million, operating income was 31.9% of revenue, and net income was $1,209 million, or $8.74 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,060 million, gross margin of $1,817 million, or 44.7% of revenue, operating expenses of $625 million, operating income of 29.4% of revenue, and net income of $1,022 million, or $7.30 per diluted share, for the quarter ended March 27, 2022 (the “March 2022 quarter”). Non-GAAP Financial Results For the June 2022 quarter, non-GAAP gross margin was $2,094 million, or 45.2% of revenue, non-GAAP operating expenses were $635 million, non-GAAP operating income was 31.5% of revenue, and non-GAAP net income was $1,221 million, or $8.83 per diluted share. This compares to non-GAAP gross margin of $1,815 million, or 44.7% of revenue, non-GAAP operating expenses of $621 million, non-GAAP operating income of 29.4% of revenue, and non-GAAP net income of $1,036 million, or $7.40 per diluted share, for the March 2022 quarter. “Lam delivered record levels of revenue and earnings per share i...