Lam Research Corporation Q4 Profit Increases, Beats Estimates

(RTTNews) - Lam Research Corporation (LRCX) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.020 billion, or $7.78 per share. This compares with $802.537 million, or $5.97 per share, in last year's fourth quarter.

Excluding items, Lam Research Corporation reported adjusted earnings of $1.066 billion or $8.14 per share for the period.

Analysts on average had expected the company to earn $7.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.7% to $3.871 billion from $3.207 billion last year.

Lam Research Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $1.020 Bln. vs. $802.537 Mln. last year. -EPS (Q4): $7.78 vs. $5.97 last year. -Revenue (Q4): $3.871 Bln vs. $3.207 Bln last year.

-Guidance: Next quarter EPS guidance: $7.25 - $8.75 Next quarter revenue guidance: $4.02- $4.08 Bln