FREMONT (dpa-AFX) - Semiconductor equipment maker Lam Research Corp. (LRCX) Wednesday reported third-quarter net income of $19 million or $0.11 per share, sharply down from $45.6 million or $0.38 per share last year.
Excluding items, adjusted earnings for the quarter were $74.5 million or $0.44 per share.
Revenues for the quarter were $845 million, compared to $656 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.37 per share on revenues of $838.33 million for the quarter. Analysts' estimates typically exclude special items.
Results were impacted by gross margin that fell to 40.2 percent from 40.5 percent a year ago, and operating margin worsened to 1.3 percent from 8.8 percent.
Copyright(c) 2013 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2013 AFX News
