Thu, Aug 29, 6:12 PM (138 days ago)
For the fiscal year ended June 30, 2024, Lam Research Corporation reported revenues of $14,905,386, a decline of 14.5% from the previous year, primarily due to weakness in the non-volatile memory market, despite growth in DRAM. The gross margin decreased to 47.3%, influenced by a favorable customer mix and reduced material costs. Operating expenses rose 7.2% to $2,788,878, driven by increased employee-related costs and transformational spending. Net income fell by 15.1% to $3,827,772, with diluted earnings per share at $29.00. The company initiated a restructuring plan, resulting in $61,562 in charges, and continued to invest in R&D, totaling $1,902,444, reflecting a 10.1% increase. Cash flows from operations were $4.7 billion, with significant expenditures on stock repurchases ($2.8 billion) and dividends ($1.0 billion). Lam maintains a strong liquidity position with $5.9 billion in cash and equivalents. Risks include fluctuating semiconductor demand, geopolitical tensions affecting China, and competition from domestic manufacturers. The outlook remains cautiously optimistic, driven by long-term semiconductor demand and technology advancements, despite short-term uncertainties.