Financials
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
1999 1998 1999 1998
Total revenue $ 152,976 $ 240,018 $ 437,070 $ 822,000
$$$$$$$$$
Cost and expenses:
Cost of goods sold
- on net sales 98,674 152,476 285,520 508,376
Cost of goods sold
- restructuring charges -- 19,553 -- 19,553 --------- --------- --------- ------- --------- ---------
Gross profit 54,302 67,989 151,550 294,071
Research and
development 35,751 48,856 104,857 157,507
Selling, general and
administrative 33,175 47,537 112,589 154,196
Restructuring charges -- 65,343 53,372 65,343
Purchased technology
for research and
development -- 12,100 5,000 12,100
Merger costs -- -- -- 17,685 ------- --------- $$$$$$$$$
Operating loss (14,624) (105,847) (124,268) (112,760)
$$$$$$$$$
Other (income)/expense,
net 100 (1,605) (6) (341)
$$$$$$$$$
Loss before income
taxes (14,724) (104,242) (124,262) (112,419)
Tax benefit -- (34,178) -- (33,708)
$$$$$$$$$
Net loss $ (14,724) $ (70,064) $(124,262) $ (78,711)
Net loss per share
Basic $ (0.38) $ (1.84) $ (3.23) $ (2.08)
Diluted $ (0.38) $ (1.84) $ (3.23) $ (2.08)
Number of shares
used in per share
calculation
Basic 38,674 38,025 38,430 37,930
Diluted 38,674 38,025 38,430 37,930
LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
March 31, June 30,
1999 1998
Assets:
Cash and short-term investments $ 302,812 $ 397,156
Accounts receivable, net 144,435 176,029
Inventories 179,550 220,610
Other current assets 101,826 103,294
---------- ----------
Total current assets 728,623 897,089
Equipment/leasehold improvements, net 102,450 144,252
Restricted cash 51,357 51,357
Other assets 54,021 58,074
========== ==========
Total assets $ 936,451 $1,150,772
========== ==========
Liabilities and stockholders' equity:
Total current liabilities 212,212 293,509
Long-term debt and other 328,505 334,174
Stockholders' equity 395,734 523,089
Total liabilities and
stockholders' equity $ 936,451 $1,150,772
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