Lam Research Corporation Reports Financial Results for the Quarter Ended December 29, 2013

FREMONT, CA -- (Marketwired) -- Jan 29, 2014 -- Lam Research Corp. (NASDAQ: LRCX) today announced financial results for the quarter ended December 29, 2013.

Highlights for the December 2013 quarter were as follows:

  • Shipments of $1,139 million, up 15% from the prior quarter
  • Revenue of $1,116 million, up 10% from the prior quarter
  • GAAP gross margin of 43.7%, GAAP operating margin of 14.7% and GAAP diluted EPS of $0.87
  • Non-GAAP gross margin of 45.8%, non-GAAP operating margin of 18.7%, and non-GAAP diluted EPS of $1.10

                                                                            
                         Lam Research Corporation                           
    Financial Highlights for the Quarters Ended December 29, 2013 and       
                            September 29, 2013                              
          (in thousands, except per share data and percentages)             
                                                                            
                                U.S. GAAP                                   
-------------------------------------------------------------------------   
                           December 2013   September 2013    Change Q/Q     
                          --------------  ---------------  --------------   
                                                                            
Revenue                   $    1,116,061  $     1,015,059             +10%  
Gross margin as                                                             
 percentage of revenue              43.7%            42.5%           +120bps
Operating margin as                                                         
 percentage of revenue              14.7%            10.4%           +430bps
Diluted EPS               $         0.87  $          0.50             +74%  
                                                                            
                                 Non-GAAP                                   
-------------------------------------------------------------------------   
                           December 2013   September 2013    Change Q/Q     
                          --------------  ---------------  --------------   
                                                                            
Revenue                   $    1,116,061  $     1,015,059             +10%  
Gross margin as                                                             
 percentage of revenue              45.8%            45.0%            +80bps
Operating margin as                                                         
 percentage of revenue              18.7%            16.2%                  +250bps
Diluted  EPS                              $                  1.10    $                    0.81                          +36%    
                                                                                                                                                        
 

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