Lam Research: Fiscal Q4 Earnings Snapshot

FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal fourth-quarter earnings of $1.02 billion.

On a per-share basis, the Fremont, California-based company said it had profit of $7.78. Earnings, adjusted for non-recurring costs, came to $8.14 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $7.52 per share.

The semiconductor equipment maker posted revenue of $3.87 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $3.81 billion.

For the year, the company reported profit of $3.83 billion, or $29 per share. Revenue was reported as $14.91 billion.

For the current quarter ending in September, Lam Research expects its per-share earnings to range from $7.25 to $8.75.

The company said it expects revenue in the range of $3.75 billion to $4.35 billion for the fiscal first quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LRCX at https://www.zacks.com/ap/LRCX