Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended June 27, 2021
FREMONT, Calif., July 28, 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., July 28, 2021 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended June 27, 2021 (the “June 2021 quarter”). Highlights for the June 2021 quarter were as follows: Revenue of $4.15 billion.U.S. GAAP gross margin of 46.2%, U.S. GAAP operating income as a percentage of revenue of 31.7%, and U.S. GAAP diluted EPS of $7.98.Non-GAAP gross margin of 46.5%, non-GAAP operating income as a percentage of revenue of 32.6%, and non-GAAP diluted EPS of $8.09. Key Financial Data for the Quarters Ended June 27, 2021 and March 28, 2021 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP June 2021 March 2021 Change Q/QRevenue $4,145,179 $3,847,654 +8%Gross margin as percentage of revenue 46.2% 46.3% - 10 bpsOperating income as percentage of revenue 31.7% 31.1% + 60 bpsDiluted EPS $7.98 $7.41 +8% Non-GAAP June 2021 March 2021 Change Q/QRevenue $4,145,179 $3,847,654 +8%Gross margin as percentage of revenue 46.5% 46.3% + 20 bpsOperating income as percentage of revenue 32.6% 31.6% + 100 bpsDiluted EPS $8.09 $7.49 +8% U.S. GAAP Financial Results For the June 2021 quarter, revenue was $4,145 million, gross margin was $1,915 million, or 46.2% of revenue, operating expenses were $599 million, operating income was 31.7% of revenue, and net income was $1,145 million, or $7.98 per diluted share on a U.S. GAAP basis. This compares to revenue of $3,848 million, gross margin of $1,780 million, or 46.3% of revenue, operating expenses of $585 million, operating income of 31.1% of revenue, and net income of $1,071 million, or $7.41 per diluted share, for the quarter ended March 28, 2021 (the “March 2021 quarter”). Non-GAAP Financial Results For the June 2021 quarter, non-GAAP gross margin was $1,926 million, or 46.5% of revenue, non-GAAP operating expenses were $574 million, non-GAAP operating income was 32.6% of revenue, and non-GAAP net income was $1,161 million, or $8.09 per diluted share. This compares to non-GAAP gross margin of $1,783 million, or 46.3% of revenue, non-GAAP operating expenses of $567 million, non-GAAP operating income of 31.6% of revenue, and non-GAAP net income of $1,084 million, or $7.49 per diluted share, for the March 2021 quarter. “Lam continued its record performance in the June quarter, capping a fisc...