Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 220.40

+1.0%

3:59 PM EST

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To: orkrious who wrote (4675)	7/24/2001 8:42:13 PM
From: BWAC	Read Replies (2) of 5867

Sorry the tone of "Read the press release it is all explained within." wasn't meant as it read. Just getting testy with the CNBS nonsense. <It appears that the current quarter has no effect of the change in accounting treatment. They took the effect and backed it into the first three months. Intuitively, this doesn't make sense. How can they not have an effect this Q?> I think I understand your question. Remember you have 3 things going on. SAB 101 " The Company adopted SAB 101 in the fourth fiscal quarter, but the change is effective as of the beginning of the fiscal year (June 26, 2000). Therefore, no cumulative effect of the change is included in net income in the fourth quarter (June 2001). Instead, the change is made as of the beginning of the year, financial information for the first three quarters of FY01 are revised to reflect the new policy, and the cumulative effect is reported in the September 2000 quarter." Translated? They went back and revised previous quarters like you said. However, This quarter ended June 24, 2001 didn't need revising because they implemented this new policy and maintained the accounting records appropriately in this 'current' quarter. As for the other two items: "Net income for the period, including the net effect of two one-time items totaling $16.3 million (a $16.8 million restructuring charge and a $33.1 million gain from the Company's derivative financial instruments), was $58.3 million, or $0.44 per diluted share" These are new items that affect this quarter alone, and not previous quarters.

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