lam research corp (LRCX) Key Developments
Lam Research Corporation Approves Amendment and Restatement of Bylaws
Nov 12 14
On November 7, 2014, the Lam Research Corporation's Board of Directors approved the amendment and restatement of the company's Amended and Restated Bylaws. The Bylaws were amended and restated to provide the following, among other things: (a) With respect to proposals and director nominations brought before a meeting by stockholders. (b) Only the business specified in a notice of a special meeting (rather than brought before the meeting by the Board) may be conducted at such meeting. (c) The Amended Bylaws clarify when an election is deemed to be contested. The provision retains the standard that, in a contested election, directors will be elected by a plurality of the votes cast. (d) The Amended Bylaws provide a more detailed framework for the chairman and secretary of any stockholder meeting, except to the extent inconsistent with rules adopted by the Board, to regulate the conduct of stockholder meetings. (e) The chairman of the Board and the lead independent director have the authority to call a special meeting of the Board. (f) Finally, the Amended Bylaws provide that in certain cases where a communication is required, notice by electronic means shall be sufficient to fulfill the requirement.
Lam Research Corporation Declares Quarterly Dividend, Payable on January 7, 2015
Nov 10 14
Lam Research Corporation announced that its Board of Directors has approved a quarterly dividend of $0.18 per share of common stock. The dividend payment will be made on January 7, 2015 to holders of record on December 10, 2014.
Lam Research Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2014; Provides Earnings Guidance for the Quarter Ending December 2014
Oct 22 14
Lam Research Corp. announced unaudited consolidated earnings results for the first quarter ended September 30, 2014. For the quarter, the company’s revenue for the September 2014 quarter was $1,152.368 million, and net income was $141.081 million, or $0.80 per diluted share on a GAAP basis. This compares to revenue of $1,248.797 million, and net income of $233.395 million, or $1.35 per diluted share, for the June 2014 quarter and revenue of $1,015.059 million, and net income of $85.506 million, or $0.50 per diluted share, for the September 2013. Deferred revenue at the end of the September 2014 quarter decreased to $356.8 million as compared to $361.6 million at the end of the June 2014 quarter. Deferred profit at the end of the September 2014 quarter increased to $251.8 million as compared to $235.9 million at the end of the June 2014 quarter. Net cash provided by operating activities was $141.161 million against $51.925 million a year ago. Capital expenditures and intangible assets was $41.871 million against $23.778 million a year ago. Non-GAAP revenue was $1,152.368 million against $1,248.797 million for the June 2014 quarter. Non-GAAP operating income was $206.874 million against $257.733 million for the June 2014 quarter. Non-GAAP net income was $167.7 million, or $0.96 per diluted share. This compares to non-GAAP net income of $217.2 million, or $1.25 per diluted share for the June 2014 quarter.
The company provided earnings guidance for the quarter ending December 2014. For the quarter, on GAAP basis, the company expects to report shipments of $1.24 billion with +/- $50 million, revenue of $1.23 billion, with +/- $50 million, gross margin of 43.8%, with +/- 1%, earnings per share of $0.89, with +/- $0.07. On Non-GAAP basis, the company expects to report shipments of $1.24 billion with +/- $50 million, revenue of $1.23 billion, with +/- $50 million, gross margin of 45.5%, with +/- 1%, earnings per share of $1.12, with +/- $0.07.
Lam Research Corporation Ships 100th Syndion Etch Module
Oct 20 14
Lam Research Corporation announced it has shipped the 100(th) Syndion module for deep silicon etch applications, including CMOS image sensors (CIS), interposers, and through-silicon vias (TSVs). Lam's production-proven 2300 Syndion product family is the etch market leader for manufacturing advanced CIS chips, which are used in mobile, automotive, and medical devices. The systems are also used to create TSVs for stacked memory and other three-dimensional integrated circuits (3D ICs).
Lam Research Corporation Presents at UBS Global Technology Conference 2014, Nov-19-2014
Oct 10 14
Lam Research Corporation Presents at UBS Global Technology Conference 2014, Nov-19-2014 . Venue: Cavallo Point, The Lodge at the Golden Gate, 601 Murray Circle, Fort Baker, Sausalito, California, United States.