LRCX FY 2012 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2012 Earnings

Reported August 22, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$2.7B	—	$3.2B	—	-17.7%
Op. Income	$238M	—	$804M	—	-70.4%
Gross Margin	40.7%	—	46.2%	—	-5.6pp
Net Margin	6.3%	—	22.4%	—	-16.0pp
EPS (Diluted)	$0.14	—	$0.58	—	-75.9%
Free Cash Flow	$392M	—	$754M	—	-48.0%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.1B
R&D Expenses	$445M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$400M
Other Expenses	$2M
Operating Expenses	$846M
Cost & Expenses	$2.4B
OPERATING INCOME	$238M
Interest Income	$12M
Interest Expense	$39M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$204M
Income Tax Expense	$36M
Net Income from Continuing Ops	$169M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$169M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$169M
D&A	$101M
EBIT	$243M
EBITDA	$344M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.1B
R&D Expenses	$445M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$400M
Other Expenses	$2M
Operating Expenses	$846M
Cost & Expenses	$2.4B
OPERATING INCOME	$238M
Interest Income	$12M
Interest Expense	$39M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$204M
Income Tax Expense	$36M
Net Income from Continuing Ops	$169M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$169M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$169M
D&A	$101M
EBIT	$243M
EBITDA	$344M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$169M
Depreciation & Amortization	$101M
Stock-Based Compensation	$82M
Deferred Income Tax	$42M
Other Non-Cash Items	$39M
Change in Working Capital	$66M
OPERATING CASH FLOW	$499M
Capital Expenditure	-$107M
Acquisitions (Net)	$419M
Purchases of Investments	-$53M
Sales/Maturities of Investments	$841M
Other Investing Activities	-$830M
NET CASH FROM INVESTING	$270M
Net Debt Issuance	-$5M
Common Stock Repurchased	-$773M
Common Dividends Paid	$0
Other Financing Activities	$28M
NET CASH FROM FINANCING	-$693M
FREE CASH FLOW	$392M
Net Change in Cash	$73M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$1.3B
Net Receivables	$766M
Inventory	$633M
Other Current Assets	$48M
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$585M
Goodwill	$1.4B
Intangible Assets	$1.2B
Long-Term Investments	$0
Tax Assets	$48M
Other Non-Current Assets	$270M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$8.0B
Account Payables	$259M
Short-Term Debt	$511M
Deferred Revenue	$165M
Other Current Liabilities	$338M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$762M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$494M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.7B
Common Stock	$187.0K
Additional Paid-In Capital	$4.9B
Retained Earnings	$2.9B
Treasury Stock	-$2.6B
Accum. Other Comp. Income	-$34M
Other Equity	$190M
TOTAL STOCKHOLDERS' EQUITY	$5.3B
Minority Interest	$0
TOTAL EQUITY	$5.3B
TOTAL LIABILITIES & EQUITY	$8.0B
Total Debt	$1.3B
Net Debt	-$292M