Lam Research Corporation Reports Financial Results for the Quarter Ended March 30, 2014

FREMONT, CA -- (Marketwired) -- Apr 23, 2014 -- Lam Research Corp. (NASDAQ: LRCX) today announced financial results for the quarter ended March 30, 2014.

Highlights for the March 2014 quarter were as follows:

  • Shipments of $1,264 million, up 11% from the prior quarter

  • Revenue of $1,227 million, up 10% from the prior quarter

  • GAAP gross margin of 43.2%, GAAP operating margin of 15.6% and GAAP diluted EPS of $0.96

  • Non-GAAP gross margin of 45.5%, non-GAAP operating margin of 20.2%, and non-GAAP diluted EPS of $1.26

                                                                            
                          Lam Research Corporation                          
Financial Highlights for the Quarters Ended March 30, 2014 and December 29, 
                                    2013                                    
           (in thousands, except per share data and percentages)            
                                                                            
                                 U.S. GAAP                                  
--------------------------------------------------------------------------- 
                                                      December      Change  
                                        March 2014      2013         Q/Q    
                                        ----------  ------------  --------- 
                                                                            
Revenue                                 $1,227,392  $  1,116,061        +10%
Gross margin as percentage of revenue         43.2%         43.7%   -50 bps 
Operating margin as percentage of                                           
 revenue                                      15.6%         14.7%   +90 bps 
Diluted EPS                             $     0.96  $       0.87        +10%
                                                                            
                                  Non-GAAP                                  
--------------------------------------------------------------------------- 
                                                      December      Change  
                                        March 2014      2013         Q/Q    
                                        ----------  ------------  --------- 
                                                                            
Revenue                                 $1,227,392  $  1,116,061        +10%
Gross margin as percentage of revenue         45.5%         45.8%   -30 bps 
Operating margin as percentage of                                                
  revenue                                                                            20.2%                  18.7%    +150  bps  
Diluted  EPS                                                          $          1.26    $              1.10                +15%
                                                                                                                                                        
 

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