Lam Research Corporation Q1 Income Retreats

(RTTNews) - Lam Research Corporation (LRCX) released a profit for first quarter that decreased from the same period last year

The company's earnings came in at $1.02 billion, or $7.30 per share. This compares with $1.07 billion, or $7.41 per share, in last year's first quarter.

Excluding items, Lam Research Corporation reported adjusted earnings of $1.04 billion or $7.40 per share for the period.

The company's revenue for the quarter rose 5.5% to $4.06 billion from $3.85 billion last year.

Lam Research Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.02 Bln. vs. $1.07 Bln. last year. -EPS (Q1): $7.30 vs. $7.41 last year. -Revenue (Q1): $4.06 Bln vs. $3.85 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $6.50 - $8.00 Next quarter revenue guidance: $3.90 - $4.50 Bln