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Lam Research: Fiscal 4Q Earnings Snapshot

August 1, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LRCX at https://www.zacks.com/ap/LRCX

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