Lam Research Corporation reported un-audited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported revenue of $844.9 million and net income of $19.0 million, or $0.11 per diluted share on a GAAP basis. This compares to revenue of $860.9 million and net income of $6.4 million, or $0.04 per diluted share, for the December 2012 quarter and revenue of $658.96 million and net income of $45.6 million, or $0.38 per diluted share in same quarter of last year. The company reported operating income of $18.8 million compared to $58.1 million, loss before income taxes of $5.0 million compared to income before income taxes of $54.6 million, net cash provided by operating activities of $102.5 million compared to $146.4 million and capital expenditures and intangible assets of $34.8 million compared to $27.98 million in last year. Non-GAAP net income was $74.5 million or $0.44 per diluted share compared to $77.3 million or $0.45 per diluted share and non-GAAP operating income was $74.7 million compared to $98.98 million reported in the previous quarter. For the nine months, the company reported net income of $28.2 million, or $0.16 per diluted share on revenue of $2,612.7 million compared to net income of $150.7 million, or $1.25 per diluted share on revenue of $1,923.4 million for the last year. The company reported operating income of $31.6 million compared to $205.1 million, loss before income taxes of $7.6 million compared to income before income taxes of $181.6 million, net cash provided by operating activities of $544.9 million compared to $402.3 million and capital expenditures and intangible assets of $117.7 million compared to $70.4 million in last year.

Lam Research Corporation, Q3 2013 Earnings Call, Apr 24, 2013

Lam Research Corporation announced that effective March 11, 2013, Doug Bettinger will serve as executive vice president and chief financial officer, succeeding Ernie Maddock. Lam announced Mr. Maddock's planned departure from the company in January. Mr. Maddock will assist Mr. Bettinger in the transition process through mid-April. Mr. Bettinger was formally chief financial officer and senior vice president of Avago Technologies Limited, a position he held since 2008. Mr. Bettinger brings more than 20 years of financial and operational experience in the semiconductor industry to Lam Research.