Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended March 27, 2022
FREMONT, Calif., April 20, 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., April 20, 2022 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended March 27, 2022 (the “March 2022 quarter”). Highlights for the March 2022 quarter were as follows: Revenue of $4.06 billion.U.S. GAAP gross margin of 44.7%, U.S. GAAP operating income as a percentage of revenue of 29.4%, and U.S. GAAP diluted EPS of $7.30.Non-GAAP gross margin of 44.7%, non-GAAP operating income as a percentage of revenue of 29.4%, and non-GAAP diluted EPS of $7.40. Key Financial Data for the Quarters Ended March 27, 2022 and December 26, 2021 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP March 2022 December 2021 Change Q/QRevenue $4,060,416 $4,226,604 - 4%Gross margin as percentage of revenue 44.7% 46.8% - 210 bpsOperating income as percentage of revenue 29.4% 31.7% - 230 bpsDiluted EPS $7.30 $8.44 - 14% Non-GAAP March 2022 December 2021 Change Q/QRevenue $4,060,416 $4,226,604 - 4%Gross margin as percentage of revenue 44.7% 46.8% - 210 bpsOperating income as percentage of revenue 29.4% 32.0% - 260 bpsDiluted EPS $7.40 $8.53 - 13% U.S. GAAP Financial Results For the March 2022 quarter, revenue was $4,060 million, gross margin was $1,817 million, or 44.7% of revenue, operating expenses were $625 million, operating income was 29.4% of revenue, and net income was $1,022 million, or $7.30 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,227 million, gross margin of $1,978 million, or 46.8% of revenue, operating expenses of $640 million, operating income of 31.7% of revenue, and net income of $1,195 million, or $8.44 per diluted share, for the quarter ended December 26, 2021 (the “December 2021 quarter”). Non-GAAP Financial Results For the March 2022 quarter, non-GAAP gross margin was $1,815 million, or 44.7% of revenue, non-GAAP operating expenses were $621 million, non-GAAP operating income was 29.4% of revenue, and non-GAAP net income was $1,036 million, or $7.40 per diluted share. This compares to non-GAAP gross margin of $1,979 million, or 46.8% of revenue, non-GAAP operating expenses of $627 million, non-GAAP operating income of 32.0% of revenue, and non-GAAP net income of $1,207 million, or $8.53 per diluted share, for the December 2021 quarter. “In an extraordinarily difficult supp...