Lam Research(US:LRCX) Prnewswireยท2025-01-29 21:05Core Insights - Lam Research Corporation reported a revenue of $4.376 billion for the December 2024 quarter, representing a 5% increase from the previous quarter [1][2][3] - The gross margin as a percentage of revenue decreased to 47.4% from 48.0% in the previous quarter, while operating income as a percentage of revenue increased to 30.5% from 30.3% [1][2][3] - Diluted earnings per share (EPS) rose to $0.92, a 7% increase compared to $0.86 in the September 2024 quarter [1][2][3] Financial Performance - For the December 2024 quarter, U.S. GAAP net income was $1.191 billion, compared to $1.116 billion in the September 2024 quarter [2][3] - Non-GAAP net income for the same period was $1.175 billion, up from $1.122 billion in the previous quarter [3][10] - Operating expenses were reported at $739 million, slightly up from $738 million in the previous quarter [2][3] Revenue Breakdown - The geographic distribution of revenue for the December 2024 quarter was as follows: China (31%), Korea (25%), Taiwan (17%), United States (9%), Japan (8%), Southeast Asia (7%), and Europe (3%) [6] - Systems revenue for the quarter was $2.626 billion, while customer support-related revenue was $1.750 billion [7][8] Balance Sheet and Cash Flow - Cash, cash equivalents, and restricted cash decreased to $5.7 billion at the end of the December 2024 quarter from $6.1 billion at the end of the September 2024 quarter [4][16] - Deferred revenue decreased to $2.032 billion from $2.047 billion in the previous quarter [5] - The estimated future revenue from shipments to customers in Japan was approximately $453 million as of December 29, 2024 [5] Outlook - For the quarter ending March 30, 2025, the company provided guidance of revenue around $4.65 billion, with a gross margin percentage of 47.9% [9][10] - The expected diluted EPS for the upcoming quarter is projected to be $1.00 [9][10]