Skip to main content

Updated from Jan. 20

Lam Research


said second-quarter profit shot higher as revenue doubled.

The semiconductor equipment maker said it earned $83.6 million, or 59 cents a share, compared with $6.4 million or 5 cents a share, a year earlier.

Revenue rose to $379.8 million from $191.5 million.

The latest-quarter results beat analysts' expectations of earnings of 53 cents a share on revenue of $382.1 million.

The stock fell 36 cents, or 1.4%, to $25.97 Friday morning.

Gross margin was 52.4%, above the 51.2% experienced in the September 2004 quarter. The improvement in gross margin was primarily the result of lower material content as a percent of revenue. In the period, operating expenses decreased to $90.3 million, primarily due to continued expense control, the company said.

New orders recorded in backlog fell 10% from the prior period to about $387 million.