LRCX FY 2017 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2017 Earnings

Reported August 15, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$8.0B	—	$5.9B	—	36.1%
Op. Income	$1.9B	—	$1.1B	—	77.1%
Gross Margin	45.0%	—	44.5%	—	0.5pp
Net Margin	21.2%	—	15.5%	—	5.7pp
EPS (Diluted)	$0.92	—	$0.52	—	76.9%
Free Cash Flow	$1.9B	—	$1.2B	—	59.3%

Revenue Flow

Item	Amount
REVENUE	$8.0B
Cost of Revenue	$4.4B
GROSS PROFIT	$3.6B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$667M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$6.1B
OPERATING INCOME	$1.9B
Interest Income	$58M
Interest Expense	$118M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$114M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$307M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$8.0B
Cost of Revenue	$4.4B
GROSS PROFIT	$3.6B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$667M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$6.1B
OPERATING INCOME	$1.9B
Interest Income	$58M
Interest Expense	$118M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$114M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$307M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$307M
Stock-Based Compensation	$150M
Deferred Income Tax	$105M
Other Non-Cash Items	$81M
Change in Working Capital	-$311M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$157M
Acquisitions (Net)	$157M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$2.7B
Other Investing Activities	-$2.9B
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	-$1.7B
Common Stock Repurchased	-$812M
Common Dividends Paid	-$243M
Other Financing Activities	$39M
NET CASH FROM FINANCING	-$2.6B
FREE CASH FLOW	$1.9B
Net Change in Cash	-$2.7B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.4B
Short-Term Investments	$3.7B
Net Receivables	$1.7B
Inventory	$1.2B
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$9.1B
PP&E (Net)	$686M
Goodwill	$1.4B
Intangible Assets	$411M
Long-Term Investments	$0
Tax Assets	-$256M
Other Non-Current Assets	$754M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$12.1B
Account Payables	$465M
Short-Term Debt	$908M
Deferred Revenue	$608M
Other Current Liabilities	$609M
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$400M
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$5.1B
Common Stock	$162.0K
Additional Paid-In Capital	$5.8B
Retained Earnings	$6.2B
Treasury Stock	-$5.2B
Accum. Other Comp. Income	-$62M
Other Equity	$170M
TOTAL STOCKHOLDERS' EQUITY	$7.0B
Minority Interest	$0
TOTAL EQUITY	$7.0B
TOTAL LIABILITIES & EQUITY	$12.1B
Total Debt	$2.7B
Net Debt	$316M