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

To: Jong Hyun Yoo who wrote (4977)	4/14/2004 4:34:30 PM
From: Kirk ©	Read Replies (1) \| Respond to of 5867

It is nice to see them with such good cash flow that they will pay off their debt early in the cycle. Pay off debt at 4% with cash probably not even making 1%... biz.yahoo.com Press Release Source: Lam Research Corporation Lam Research Corporation Announces Planned Repayment of Its 4% Convertible Subordinated Notes Wednesday April 14, 4:15 pm ET FREMONT, Calif.--(BUSINESS WIRE)--April 14, 2004--Lam Research Corporation (Nasdaq:LRCX - News) announced plans to repay in full its 4% convertible subordinated notes in June 2004, two years prior to maturity. This will result in a cash outlay of approximately $303 million, plus any accrued and unpaid interest as of the redemption date. In addition, the Company announced that in April 2004, it has settled its related interest rate swap agreement, resulting in an increase in cash of $11 million and a transfer of $6 million from restricted cash to cash balances. Statements made in this press release which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate, but are not limited, to the Company's plans to repay its 4% convertible subordinated notes. Such statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including specifically the reports on Form 10-K for the year ended June 29, 2003, and the Form 10-Q for the quarter ended December 28, 2003, which could cause actual results to vary from expectations. The Company undertakes no obligation to update the information or statements made in this press release. Lam Research Corporation is a major supplier of wafer processing equipment and services to the worldwide semiconductor manufacturing industry. The Company's common stock trades on the Nasdaq National Market under the symbol "LRCX." Lam's World Wide Web address is lamrc.com. Contact: Lam Research Corporation Kathleen Bela, 510/572-4566 (Investor Relations) kathleen.bela@lamrc.com

To: Jong Hyun Yoo who wrote (4977)	4/14/2004 8:05:03 PM
From: Proud_Infidel	Respond to of 5867

5:19PM Lam Research guides revs higher for Q4 (LRCX) 26.82 -0.02: -- Update -- On conference call, LAM says Q4 (June) revenues should reach $300 mln ('consistent with current customer order patterns') versus the Reuters Research consensus estimate of $270.6 mln. Gross margins should be approximately 47% of revenues, and bookings should be up 10-15% sequentially. 5:16PM Lam Research gives bullish JuneQ shipment guidance (LRCX) 26.82 -0.02: -- Update -- On conference call, management says shipments in Q4 (June) should be 120% higher than in Q2 (Dec)... Financial targets for Q4 will follow.

To: Jong Hyun Yoo who wrote (4977)	4/15/2004 10:11:54 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 5867

Lam down 2.5%....Not quite the reaction I expected this morning. FWIW: From Briefing.com: 7:26AM LRCX upgraded after strong MarQ at WR Hambrecht 26.82: WR Hambrecht upgrades Lam Research to Buy from Hold and raises its target to $30 from $26 after the co reported a strong MarQ last night. As demand for etch equipment leads other process tools in a cyclical upturn, bookings of $350 mln were up 30% this quarter and guidance calls for another 10%-15% increase in JunQ. Gross margins improved by 80bp and are estimated to improve by more than a point next quarter, with further improvement to 49% in FY:05. Higher margins and accelerating revenue growth lead the firm to increase its FY:04 and FY:05 EPS estimates to $0.49 and $1.63 (from $0.43 and $1.40).