|LRCX CC: 21st thingies "are powerful drivers for multiyear WFE spending"...|
Thank you, Tina, and welcome, everyone. Our June quarter results reflect continued strong execution across our systems and services businesses. The quarter came in well above expectations, with record revenues of $4.15 billion, and earnings per share of $8.09. We also generated record cash from operations in the quarter of $1.4 billion. The June quarter marked the end of Lam's fiscal year. And despite a challenging operating environment, we delivered the highest revenue in the company's history. Compared to the prior fiscal year, revenues grew more than 45% to $14.6 billion. Earnings per share increased at an even faster pace to a record $27.25 in fiscal year 2021, more than 70% higher than in fiscal year 2020.
The demand environment for semiconductor equipment remains strong, and we now see wafer fabrication equipment spending in calendar 2021 trending above $80 billion. While absolute WFE spending levels have risen to new highs, we remain confident in the health and sustainability of the industry at these levels. Wafer fab equipment spending as a percentage of semiconductor industry operating profit remains within historical ranges---Read disregard slime street "tool expensive" krapp. It's ROI--- , and semiconductors continue to enable critical technology transformations such as AI, 5G, high-performance computing and IoT. We believe robust semiconductor demand, rising device manufacturing complexity and strategic regional investments are powerful drivers for multiyear WFE spending. By device segments, we see strength across NAND, DRAM and foundry logic in calendar 2021.