Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended September 27, 2020
FREMONT, Calif., Oct. 21, 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., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended September 27, 2020 (the “September 2020 quarter”).\n Highlights for the September 2020 quarter were as follows: Revenue of $3.18 billion.U.S. GAAP gross margin of 47.4%, U.S. GAAP operating income as a percentage of revenue of 30.2%, and U.S. GAAP diluted EPS of $5.59.Non-GAAP gross margin of 47.5%, non-GAAP operating income as a percentage of revenue of 31.1%, and non-GAAP diluted EPS of $5.67. Key Financial Data for the Quarters Ended September 27, 2020 and June 28, 2020 (in thousands, except per-share data, percentages, and basis points) U.S. GAAP September 2020 June 2020 Change Q/QRevenue$3,177,080 $2,791,864 + 14%Gross margin as percentage of revenue47.4% 45.9% + 150 bps Operating income as percentage of revenue30.2% 27.1% + 310 bps Diluted EPS$5.59 $4.73 + 18% Non-GAAP September 2020 June 2020 Change Q/QRevenue$3,177,080 $2,791,864 + 14%Gross margin as percentage of revenue47.5% 46.1% + 140 bps Operating income as percentage of revenue31.1% 28.5% + 260 bps Diluted EPS$5.67 $4.78 + 19% U.S. GAAP Financial Results For the September 2020 quarter, revenue was $3,177 million, gross margin was $1,506 million, or 47.4% of revenue, operating expenses were $545 million, operating income was 30.2% of revenue, and net income was $823 million, or $5.59 per diluted share on a U.S. GAAP basis. This compares to revenue of $2,792 million, gross margin of $1,280 million, or 45.9% of revenue, operating expenses of $525 million, operating income of 27.1% of revenue, and net income of $697 million, or $4.73 per diluted share, for the quarter ended June 28, 2020 (the “June 2020 quarter”). Non-GAAP Financial Results For the September 2020 quarter, non-GAAP gross margin was $1,511 million, or 47.5% of revenue, non-GAAP operating expenses were $523 million, non-GAAP operating income was 31.1% of revenue, and non-GAAP net income was $835 million, or $5.67 per diluted share. This compares to non-GAAP gross margin of $1,288 million, or 46.1% of revenue, non-GAAP operating expenses of $493 million, non-GAAP operating income of 28.5% of revenue, and non-GAAP net income of $704 million, or $4.78 per diluted share, for the June 2020 quarter. “Lam generated outstanding results in ...