LRCX FY 2015 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2015 Earnings

Reported August 13, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$5.3B	—	$4.6B	—	14.2%
Op. Income	$788M	—	$678M	—	16.3%
Gross Margin	43.4%	—	43.6%	—	-0.1pp
Net Margin	12.5%	—	13.7%	—	-1.3pp
EPS (Diluted)	$0.37	—	$0.36	—	2.8%
Free Cash Flow	$587M	—	$572M	—	2.7%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.0B
GROSS PROFIT	$2.3B
R&D Expenses	$825M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$592M
Other Expenses	$79M
Operating Expenses	$1.5B
Cost & Expenses	$4.5B
OPERATING INCOME	$788M
Interest Income	$19M
Interest Expense	$74M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$741M
Income Tax Expense	$85M
Net Income from Continuing Ops	$656M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$656M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$656M
D&A	$278M
EBIT	$815M
EBITDA	$1.1B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.0B
GROSS PROFIT	$2.3B
R&D Expenses	$825M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$592M
Other Expenses	$79M
Operating Expenses	$1.5B
Cost & Expenses	$4.5B
OPERATING INCOME	$788M
Interest Income	$19M
Interest Expense	$74M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$741M
Income Tax Expense	$85M
Net Income from Continuing Ops	$656M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$656M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$656M
D&A	$278M
EBIT	$815M
EBITDA	$1.1B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$656M
Depreciation & Amortization	$278M
Stock-Based Compensation	$135M
Deferred Income Tax	$6M
Other Non-Cash Items	$132M
Change in Working Capital	-$421M
OPERATING CASH FLOW	$786M
Capital Expenditure	-$198M
Acquisitions (Net)	$40M
Purchases of Investments	-$952M
Sales/Maturities of Investments	$2.1B
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	$991M
Common Stock Repurchased	-$573M
Common Dividends Paid	-$116M
Other Financing Activities	$77M
NET CASH FROM FINANCING	$378M
FREE CASH FLOW	$587M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$2.6B
Net Receivables	$1.1B
Inventory	$943M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.3B
PP&E (Net)	$621M
Goodwill	$1.4B
Intangible Assets	$728M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$357M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$9.4B
Account Payables	$300M
Short-Term Debt	$1.4B
Deferred Revenue	$322M
Other Current Liabilities	$408M
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$387M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$4.0B
Common Stock	$159.0K
Additional Paid-In Capital	$5.4B
Retained Earnings	$4.1B
Treasury Stock	-$4.3B
Accum. Other Comp. Income	-$58M
Other Equity	$242M
TOTAL STOCKHOLDERS' EQUITY	$5.3B
Minority Interest	$0
TOTAL EQUITY	$5.3B
TOTAL LIABILITIES & EQUITY	$9.4B
Total Debt	$2.4B
Net Debt	$859M