Lam Research Tops Estimates, but Revenue Dives
The chip-equipment maker posts a narrower-than-expected third-quarter loss.
Lam Research
(LRCX) - Get Report
, a maker of equipment used in semiconductor manufacturing, beat analysts' estimates for the latest third quarter, but revenue plunged from the same period a year ago.
Excluding a gain, the company lost 12 cents a share. Analysts were looking for a loss of 17 cents. Including the gain, Lam earned a penny a share, down from a profit of 48 cents a year ago.
Revenue fell to $164.1 million from $465.1 million in the year-ago third quarter. New orders totaled $166 million, an increase of 34% from the fiscal second quarter.
Shares of Lam were ticking up 0.2% to $29.60 in extended-session Instinet trading after gaining almost 3% in regular action.
