FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Lam Research Corp. (LRCX) on Wednesday reported fiscal fourth-quarter net income of $2.28 billion.
On a per-share basis, the Fremont, California-based company said it had profit of $1.81. Earnings, adjusted for one-time gains and costs, were $1.82 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The semiconductor equipment maker posted revenue of $6.72 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $6.67 billion.
For the year, the company reported profit of $7.27 billion, or $5.76 per share. Revenue was reported as $23.23 billion.
For the current quarter ending in September, Lam Research expects its per-share earnings to range from $2 to $2.30.
The company said it expects revenue in the range of $7.7 billion to $8.5 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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