Lam Research: Fiscal 4Q Earnings Snapshot
FREMONT, Calif. (AP) _ Lam Research Corp. (LRCX) on Wednesday reported fiscal fourth-quarter earnings of $541.8 million.
On a per-share basis, the Fremont, California-based company said it had net income of $3.51. Earnings, adjusted for one-time gains and costs, came to $3.62 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.
The semiconductor equipment maker posted revenue of $2.36 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.35 billion.
For the year, the company reported profit of $2.19 billion, or $13.70 per share. Revenue was reported as $9.65 billion.
For the current quarter ending in October, Lam Research expects its per-share earnings to range from $2.80 to $3.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.23.
The company said it expects revenue in the range of $2 billion to $2.3 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.28 billion.
Lam Research shares have risen 53% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has risen slightly more than 9% in the last 12 months.