Lam Research revenue grows 22 percent from the previous quarter
Lam Research reported revenue of 8.219 billion dollars for the quarter ended September 27, up 22 percent from the preceding quarter. Systems revenue increased while customer support revenue changed little. Operating margin and net income rose. The semiconductor equipment company also provided a higher revenue midpoint for its December quarter, as a company forecast rather than a completed result.
Economics & Markets··Morning
Lam Research increases quarterly revenue
Lam Research, a semiconductor equipment supplier, reported higher revenue and operating profit for its fiscal first quarter. The company released the results on October 21. Its financial statement covers the quarter ended September 27, and the comparisons with the preceding period refer to the June quarter.[1], [2]
Revenue reached 8.219 billion dollars, up 22 percent from the previous quarter. Systems revenue increased to 5.733 billion dollars from 4.250 billion dollars. Customer support-related and other revenue changed little, reaching 2.487 billion dollars.[1]
Operating margin and net income rise
Operating margin increased from 37.4 percent to 40.0 percent. Net income rose from 2.28 billion dollars to 2.75 billion dollars. Diluted earnings per share increased to 2.19 dollars, while the adjusted measure was 2.20 dollars. China represented 35 percent of revenue, Korea 20 percent and Taiwan 18 percent in the completed quarter.[1]
Management sets December-quarter revenue guidance
Lam Research forecast next-quarter revenue centered on 8.60 billion dollars, with a range of 400 million dollars above or below that figure. Cash, cash equivalents and restricted cash reached 7.45 billion dollars at the September quarter end. Deferred revenue rose to 2.66 billion dollars, excluding shipments to Japan awaiting customer acceptance.[1]
