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

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

LRCX 178.07

+0.4%

Dec 26 9:30 AM EST

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To: Proud_Infidel who wrote (5379)	10/12/2005 5:02:39 PM
From: Kirk ©	Read Replies (2) of 5867

"The Company continues to deliver excellent financial performance. Cash flows from operations represented the eighth consecutive quarter of positive operational cash generation. The Company was active in its commitment to its share repurchase program during the quarter, buying approximately 2.6 million shares for a total cash outlay of $78.7 million. We remain well positioned to continue delivering a level of performance that reflects our commitment to excellence in every facet of our business," Newberry concluded. * Cash, short-term investments and restricted cash balances were $873.9M at the end of September or $6.18 per diluted share. * Cash flows provided by operating activities were $47.4 million during the quarter (34¢/share). * Diluted shares outstanding decreased by 1.1M shares as they used cash to buy back shares in excess of options dilution. I really don't care how many shares they bought back because more than half of those were to offset stock option dilution. What matters is the total number of diluted shares outstanding, which is going down (good!) This last three bullets are really cool. They show Lam is generating better than 1% cash return per share PER QUARTER at a time when the market is struggling. It tells me Lam could be paying us a 4% dividend even as they buy back shares while other companies are pissing and moaning about hurricanes, wars, etc. to make excuses for poor results.

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