FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal fourth-quarter profit of $1.72 billion.
On a per-share basis, the Fremont, California-based company said it had net income of $1.35. Earnings, adjusted for one-time gains and costs, were $1.33 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The semiconductor equipment maker posted revenue of $5.17 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $4.99 billion.
For the year, the company reported profit of $5.36 billion, or $4.15 per share. Revenue was reported as $18.44 billion.
For the current quarter ending in September, Lam Research expects its per-share earnings to range from $1.10 to $1.30.
The company said it expects revenue in the range of $4.9 billion to $5.5 billion for the fiscal first quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LRCX at https://www.zacks.com/ap/LRCX
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