Lam Research Beats Analysts' 1Q Estimates - TheStreet

Lam Research

(LRCX) - Get Report

reported first-quarter earnings that topped analysts' expectations by 5 cents, on the strength of robust product growth.

The company, which supplies front-end wafer processing equipment and services to the semiconductor manufacturing industry, posted earnings of $66.1 million, or 48 cents a share, up from last year's earnings of $24.7 million, or 19 cents a share. A

First Call/Thomson Financial

survey of 21 analysts produced a consensus estimate of 43 cents a share.

Revenue rose 79% to $432 million from $241.6 million.