Lam Research Corporation Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $802.5 million, or $5.97 per share. This compares with $1.21 billion, or $8.74 per share, in last year's fourth quarter.

Excluding items, Lam Research Corporation reported adjusted earnings of $803 million or $5.98 per share for the period.

Analysts on average had expected the company to earn $5.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.8% to $3.21 billion from $4.64 billion last year.

Lam Research Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $802.5 Mln. vs. $1.21 Bln. last year. -EPS (Q4): $5.97 vs. $8.74 last year. -Analyst Estimates: $5.07 -Revenue (Q4): $3.21 Bln vs. $4.64 Bln last year.