Lam Research news and CC commentary
I copied the following selection of snips from Yahoo!'s Briefing.com section:
4:17PM Lam Research (LRCX) 24.36 -1.67: Reports Q4 earnings of $0.28 a share; this number reflect the effect of adopting SAB 101 accounting rules and might not be comparable to the First Call consensus of $0.14, vs year-ago earnings of $0.45; revenues fell 21.4% year/year to $365.5 mln vs the Multex consensus of $331.8 mln
4:38PM Lam Research (LRCX) 24.36 -1.67: -- Update -- On conference call, said there was a 14% sequential reduction in total new orders; cancellations in June qtr. were lower than March qtr, but still higher than LRCX expected... most cancellations occurred after mid-point of quarter and resulted in a $22 mln reduction in backlog... LRCX +0.13
4:47PM Lam Research (LRCX) 24.36 -1.67: -- Update -- Says it was surprised by the dramatic falloff in fab utilization in the June qtr.; with the exception of DRAM and perhaps the processor markets, says dropoff in other segments was the worst it has ever seen... notes it is planning its business assuming no meaningful change in wafer starts... expects bookings in September qtr to be down from June; SAB 101 revenues for Q3 forecasted to be $320-$340 mln (Multex consensus is $297.5 mln) and EPS to be $0.15-$0.18 (First Call consensus is $0.08)... LRCX +0.49
4:55PM Lam Research (LRCX) 24.36 -1.67: -- Update -- In Q&A portion, analyst asked LRCX for suggestions on how to figure SAB101 revenues beyond the September quarter... in response, LRCX said it attempted on its own to come up with an algorithm that could be used by the analyst community in helping to figure forecasts, but that its attempt to do so was unsuccessful... LRCX acknowledged, too, that the revenue guidance given for September qtr encompasses a much wider spread than it has given in the past, which suggests its own inability to forecast revenues accurately under SAB101... LRCX +0.53
5:02PM Lam Research (LRCX) 24.36 -1.67: -- Update -- In relationship to backlog, shipments in September qtr expected to be in the $160 mln range, which is down significantly from shipments of approximately $259 mln in June qtr.... in "non-SAB" world, LRCX had previously felt its break even point with respect to shipments was around $250 mln... says it is now going to have to reconsider such projections... LRCX -0.11
5:17PM Lam Research (LRCX) 24.36 -1.67: -- Update -- When asked about his thoughts on when he expects industry upturn to occur, CEO said he just doesn't know and that he doesn't even know if the industry is at a bottom; however, he is inclined to believe that the industry is at a point where customers are going to need to purchase new equipment in order to sustain their technological, and competitive, advantage... LRCX -0.46
5:23PM Lam Research (LRCX) 24.36 -1.67: -- Update -- Classifies the CMP business as an abysmal market within a generally abysmal market... thinks the CMP business is likely to suffer more than other products in current environment... separately, says the first month of Q3 looks a lot like first month of Q2, but stresses that the important difference is that Q3 is typically a slow period due to vacation periods in U.S. and Europe... LRCX -0.14
5:33PM Lam Research (LRCX) 24.36 -1.67: -- Update -- Conference call just concluded... LRCX -0.14
AdvocateDevil
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Oh, and here might be today's quote of the day:
"There has to be a floor there someplace other than zero."
by Lam Research Chairman and CEO James Bagley 7/24/01
ref: "Lam Research sales to keep falling"
link: marketwatch.com |
