LRCX FY 2007 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2007 Earnings

Reported March 31, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$2.6B	—	$1.6B	—	56.3%
Op. Income	$779M	—	$405M	—	92.4%
Gross Margin	50.8%	—	50.4%	—	0.5pp
Net Margin	26.7%	—	20.4%	—	6.3pp
EPS (Diluted)	$0.49	—	$0.23	—	113.0%
Free Cash Flow	$764M	—	$319M	—	139.7%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.3B
R&D Expenses	$285M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$241M
Other Expenses	$0
Operating Expenses	$526M
Cost & Expenses	$1.8B
OPERATING INCOME	$779M
Interest Income	$72M
Interest Expense	$18M
Other Income/Expenses	$69M
INCOME BEFORE TAX	$848M
Income Tax Expense	$162M
Net Income from Continuing Ops	$686M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$686M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$686M
D&A	$37M
EBIT	$866M
EBITDA	$904M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.3B
R&D Expenses	$285M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$241M
Other Expenses	$0
Operating Expenses	$526M
Cost & Expenses	$1.8B
OPERATING INCOME	$779M
Interest Income	$72M
Interest Expense	$18M
Other Income/Expenses	$69M
INCOME BEFORE TAX	$848M
Income Tax Expense	$162M
Net Income from Continuing Ops	$686M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$686M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$686M
D&A	$37M
EBIT	$866M
EBITDA	$904M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$686M
Depreciation & Amortization	$37M
Stock-Based Compensation	$23M
Deferred Income Tax	$17M
Other Non-Cash Items	$32M
Change in Working Capital	$29M
OPERATING CASH FLOW	$824M
Capital Expenditure	-$60M
Acquisitions (Net)	-$181M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$110M
NET CASH FROM INVESTING	-$83M
Net Debt Issuance	-$100M
Common Stock Repurchased	-$1.1B
Common Dividends Paid	$0
Other Financing Activities	$45M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$764M
Net Change in Cash	-$337M

Balance Sheet

Item	Amount
Cash & Equivalents	$574M
Short-Term Investments	$97M
Net Receivables	$410M
Inventory	$235M
Other Current Assets	$62M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$114M
Goodwill	$60M
Intangible Assets	$71M
Long-Term Investments	$0
Tax Assets	$27M
Other Non-Current Assets	$413M
TOTAL NON-CURRENT ASSETS	$685M
TOTAL ASSETS	$2.1B
Account Payables	$118M
Short-Term Debt	$0
Deferred Revenue	$191M
Other Current Liabilities	$207M
TOTAL CURRENT LIABILITIES	$673M
Long-Term Debt	$250M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$252M
TOTAL LIABILITIES	$925M
Common Stock	$124.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$1.5B
Treasury Stock	-$1.5B
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$250M
Net Debt	-$324M