Lam Research Corp. (LRCX) reported that its third-quarter net income was $45.6 million, or $0.38 per share, down from $182.24 million or $1.45 per share in the year ago quarter.
Non-GAAP net income for the latest-quarter was $60.6 million, or $0.50 per share. Operating income plunged to $58.12 million from $197 million in the year ago quarter.
Revenue for the period was $658.96 million, compared to revenue of $809.09 million last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share on revenues of $643.07 million for the quarter. Analysts' estimates typically exclude special items.
by RTT Staff Writer
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