Press release
Lam Research Corporation Reports Financial Results for the Quarter Ended September 29, 2019
FREMONT, Calif., Oct. 23, 2019 (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. 23, 2019 (GLOBE NEWSWIRE) -- Lam Research Corporation (the \"Company,\" \"Lam,\" \"Lam Research\") today announced financial results for the quarter ended September 29, 2019 (the “September 2019 quarter”).\n Highlights for the September 2019 quarter were as follows: Revenue of $2.17 billion.U.S. GAAP gross margin of 45.3%, U.S. GAAP operating income as a percentage of revenue of 24.8%, and U.S. GAAP diluted EPS of $3.09.Non-GAAP gross margin of 45.4%, non-GAAP operating income as a percentage of revenue of 25.5%, and non-GAAP diluted EPS of $3.18. Key Financial Data for the Quarters EndedSeptember 29, 2019 and June 30, 2019(in thousands, except per-share data, percentages, and basis points) U.S. GAAP September 2019 June 2019 Change Q/QRevenue $2,165,746 $2,361,147 - 8%Gross margin as percentage of revenue 45.3% 45.8% - 50 bpsOperating income as percentage of revenue 24.8% 26.1% - 130 bpsDiluted EPS $3.09 $3.51 - 12% Non-GAAP September 2019 June 2019 Change Q/QRevenue $2,165,746 $2,361,147 - 8%Gross margin as percentage of revenue 45.4% 45.9% - 50 bpsOperating income as percentage of revenue 25.5% 26.9% - 140 bpsDiluted EPS $3.18 $3.62 - 12% U.S. GAAP Financial Results For the September 2019 quarter, revenue was $2,166 million, gross margin was $982 million, or 45.3% of revenue, operating expenses were $444 million, operating income was 24.8% of revenue, and net income was $466 million, or $3.09 per diluted share on a U.S. GAAP basis. This compares to revenue of $2,361 million, gross margin of $1,081 million, or 45.8% of revenue, operating expenses of $464 million, operating income of 26.1% of revenue, and net income of $542 million, or $3.51 per diluted share, for the quarter ended June 30, 2019 (the “June 2019 quarter”). Non-GAAP Financial Results For the September 2019 quarter, non-GAAP gross margin was $983 million or 45.4% of revenue, non-GAAP operating expenses were $431 million, non-GAAP operating income was 25.5% of revenue, and non-GAAP net income was $480 million, or $3.18 per diluted share. This compares to non-GAAP gross margin of $1,085 million or 45.9% of revenue, non-GAAP operating expenses of $450 million, non-GAAP operating income of 26.9% of revenue, and non-GAAP net income of $559 million, or $3.62 per diluted share for the June 2019 quarter. “Lam delivered solid results in the September q...