News & Analysis
Lam quarterly results up sequentially, down year-to-year
1/18/2006 5:50 PM EST
The fiscal second quarter net income of $77.8 million, which equates to 55 cents per diluted share, was down 7 percent from the $83.6 million that the company reported for the second quarter of its fiscal 2005. The figure was up 57 percent from the net income of $49.5 million that Lam (Fremont, Calif.) reported for the prior quarter.
Fiscal second quarter revenue of $358.2 million was down nearly 6 percent from the $379.8 million the company reported for the second quarter of fiscal 2005, but up nearly 12 percent from revenue of $320.9 million posted for the first quarter of fiscal 2006.
Fiscal second quarter gross margin was $177.5 million and operating expenses were $100.6 million, Lam said, both sequential improvements from gross margin of $156.1 million and operating expenses of $96.4 million reported for the fiscal first quarter.
Lam said new orders recorded in backlog increased 24 percent sequentially to $403 million during the fiscal second quarter. Twenty-nine percent of the company's new orders and revenue came from the Asia-Pacific region, Lam said, while 25 percent of revenue came from Japan and 20 percent from Korea.
Steve Newberry, Lam president and CEO, said through a statement Wednesday that business conditions continued to strengthen during the quarter.
"Improving demand for wafer processing equipment and services coupled with recent market share gains have resulted in a significant increase in new orders," Newberry said. "We believe the continued increase in selection of our equipment into today's most advanced wafer processing fabs as well as recent next-generation technology wins is a reflection of the company's ongoing competitiveness."
Lam's fiscal second quarter closed Dec. 25, 2005.
