Lam Research Q2 Profit Rises - Quick Facts

(RTTNews) - Lam Research Corp. (LRCX) reported that its second-quarter net income increased to $148.99 million or $0.87 per share, from $6.41 million or $0.04 per share, last year. Adjusted net income was $188.75 million or $1.10 per share, for the quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.03 for the quarter. Analysts' estimates typically exclude special items.

Revenue rose year-over-year to $1.12 billion, from $860.89 million. Analysts expected revenue of $1.10 billion, for the quarter.

For the third-quarter, Lam expects non-GAAP: earnings per share of approximately $1.15 plus or minus $0.05; and revenue of approximately $1.215 billion plus or minus $30 million. Analysts expect the company to report third-quarter profit per share of $1.11 on revenue of $1.15 billion.