|From Briefing.com: 4:20 pm : |
4:51PM Lam Research beats by $0.05, reports revs in-line; sees Q3 below consensus (LRCX) 42.22 -1.61 : Reports Q4 (Jun) earnings of $1.14 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $1.09; revenues rose 8.2% year/year to $752 mln vs the $748.6 mln consensus. "We are seeing significant near term declines in wafer fab equipment spending, and as result our September quarter shipments, revenues and earnings per share will be well below our June quarter results, consensus: $754 mln, $1.15. Even in this environment, we continue to execute to our strategic priorities and make key R&D investments that position the company for future growth opportunities. Longer term, we continue to believe that on a rolling average basis, twelve-month wafer fab equipment spending should be healthy over the next several years and our outstanding product portfolio, supported by our solid balance sheet and strong cash generation capabilities enable the company to deliver increased value to our customers and our shareholders in that environment."