LRCX FY 2011 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2011 Earnings

Reported August 19, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$3.2B	—	$2.1B	—	51.7%
Op. Income	$804M	—	$425M	—	89.1%
Gross Margin	46.2%	—	45.5%	—	0.8pp
Net Margin	22.4%	—	16.2%	—	6.1pp
EPS (Diluted)	$0.58	—	$0.27	—	114.8%
Free Cash Flow	$754M	—	$315M	—	139.1%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.5B
R&D Expenses	$373M
Selling & Marketing	$0
General & Administrative	$308M
SG&A Expenses	$308M
Other Expenses	$12M
Operating Expenses	$693M
Cost & Expenses	$2.4B
OPERATING INCOME	$804M
Interest Income	$16M
Interest Expense	$5M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$801M
Income Tax Expense	$77M
Net Income from Continuing Ops	$724M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$724M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$724M
D&A	$75M
EBIT	$806M
EBITDA	$881M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.5B
R&D Expenses	$373M
Selling & Marketing	$0
General & Administrative	$308M
SG&A Expenses	$308M
Other Expenses	$12M
Operating Expenses	$693M
Cost & Expenses	$2.4B
OPERATING INCOME	$804M
Interest Income	$16M
Interest Expense	$5M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$801M
Income Tax Expense	$77M
Net Income from Continuing Ops	$724M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$724M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$724M
D&A	$75M
EBIT	$806M
EBITDA	$881M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$724M
Depreciation & Amortization	$75M
Stock-Based Compensation	$53M
Deferred Income Tax	$18M
Other Non-Cash Items	-$10M
Change in Working Capital	$22M
OPERATING CASH FLOW	$881M
Capital Expenditure	-$127M
Acquisitions (Net)	-$209M
Purchases of Investments	-$354M
Sales/Maturities of Investments	$211M
Other Investing Activities	-$22.0K
NET CASH FROM INVESTING	-$480M
Net Debt Issuance	$878M
Common Stock Repurchased	-$211M
Common Dividends Paid	$0
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$527M
FREE CASH FLOW	$754M
Net Change in Cash	$946M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$630M
Net Receivables	$591M
Inventory	$397M
Other Current Assets	$82M
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$270M
Goodwill	$169M
Intangible Assets	$47M
Long-Term Investments	$165M
Tax Assets	$4M
Other Non-Current Assets	$124M
TOTAL NON-CURRENT ASSETS	$781M
TOTAL ASSETS	$4.1B
Account Payables	$164M
Short-Term Debt	$5M
Deferred Revenue	$154M
Other Current Liabilities	$247M
TOTAL CURRENT LIABILITIES	$681M
Long-Term Debt	$738M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$165M
TOTAL NON-CURRENT LIABILITIES	$903M
TOTAL LIABILITIES	$1.6B
Common Stock	$124.0K
Additional Paid-In Capital	$1.5B
Retained Earnings	$2.7B
Treasury Stock	-$1.8B
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$743M
Net Debt	-$749M