Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4704)	9/19/2001 2:10:34 PM
From: Kirk ©	Read Replies (5) \| Respond to of 5867

LRCX warns Lam is off 16% as it was reported on CNBC that they warn in their 10K that they expect lower revenue in the first half of 2002.... WASHINGTON (Dow Jones)Lam Research Corp. (LRCX) said it expects lower revenue in the first half of fiscal 2002 and "potentially beyond" compared with the second half of fiscal 2001, according to the company's annual report filed with the Securities and Exchange Commission. The supplier of wafermanufacturing equipment cited customers' plans to delay or reduce capital expenditures for 2001 and early 2002 as the reason for its lower revenue, according to the filing from late Monday. Lam Research reported fiscal fourthquarter revenue of $365.5 million, and thirdquarter revenue came in at $421.5 million. The company didn't say in the filing how much lower revenue might be. In addition, the company expects a decline in gross margins as a percentage of revenue for at least the first half of fiscal 2002, compared with the second half of fiscal 2001 ended June 24, due to lower production output and utilization of field resources. The company reported gross margins of 40.4% for its fourth quarter, and 43.6% for its third quarter ended March 25. But Lam Research said the unfavorable impact of lower output is expected to be partially offset by cost cutting initiated in late fiscal 2001. On Aug. 31, the company said it planned to cut 10% of its staff and pursue companywide shutdown days, voluntary pay cuts and employee furloughs, citing the downturn in the semiconductor industry. Lam also said in the filing that it expects research and development costs as a percentage of revenue to increase during the next two quarters as revenue is expected to decline while investment in R&D programs will continue at slightly reduced levels. R&D expenses for fiscal 2001 were $227.2 million, or 15% of total revenue. Carrie DeLeon, Dow Jones Newswires; 2026287663 (END) DOW JONES NEWS 091901 01:01 PM