2015 Q2 Form 10-Q Financial Statement

#000119312515161955 Filed on April 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $1.481B $1.393B $1.227B
YoY Change 18.63% 13.52% 45.27%
Cost Of Revenue $839.8M $792.7M $696.6M
YoY Change 21.39% 13.8% 37.91%
Gross Profit $641.5M $600.6M $530.8M
YoY Change 15.17% 13.15% 56.21%
Gross Profit Margin 43.3% 43.11% 43.25%
Selling, General & Admin $149.4M $142.8M $152.9M
YoY Change -4.05% -6.61% -1.24%
% of Gross Profit 23.29% 23.77% 28.8%
Research & Development $221.7M $217.9M $186.0M
YoY Change 19.58% 17.15% 6.76%
% of Gross Profit 34.56% 36.27% 35.04%
Depreciation & Amortization $70.20M $70.30M $73.20M
YoY Change -1.4% -3.96% -2.27%
% of Gross Profit 10.94% 11.7% 13.79%
Operating Expenses $371.1M $360.6M $338.9M
YoY Change 8.8% 6.43% 3.0%
Operating Profit $270.4M $240.0M $191.9M
YoY Change 25.24% 25.02% 1677.19%
Interest Expense -$18.20M $17.63M $15.62M
YoY Change 83.84% 12.85% -239.47%
% of Operating Profit -6.73% 7.35% 8.14%
Other Income/Expense, Net -$2.200M -$11.39M -$9.855M
YoY Change -650.0% 15.57% 109.68%
Pretax Income $170.7M $228.6M $182.1M
YoY Change -41.04% 25.53% -3741.64%
Income Tax $39.40M $22.29M $17.69M
% Of Pretax Income 23.08% 9.75% 9.71%
Net Earnings $131.3M $206.3M $164.4M
YoY Change -43.74% 25.48% 765.24%
Net Earnings / Revenue 8.86% 14.81% 13.39%
Basic Earnings Per Share $1.30 $1.01
Diluted Earnings Per Share $743.5K $1.16 $0.96
COMMON SHARES
Basic Shares Outstanding 158.3M shares 159.0M shares 162.2M shares
Diluted Shares Outstanding 177.5M shares 171.6M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.782B $3.949B $2.754B
YoY Change 88.6% 43.39% 16.84%
Cash & Equivalents $1.502B $1.636B $1.292B
Short-Term Investments $4.281B $2.313B $1.462B
Other Short-Term Assets $157.0M $146.0M $157.0M
YoY Change -11.3% -7.01% -29.91%
Inventory $943.3M $919.7M $717.4M
Prepaid Expenses
Receivables $1.094B $1.047B $818.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.271B $6.061B $4.447B
YoY Change 31.09% 36.28% 21.18%
LONG-TERM ASSETS
Property, Plant & Equipment $621.4M $579.8M $552.6M
YoY Change 14.34% 4.93% -7.11%
Goodwill $1.400B $1.466B $1.457B
YoY Change -4.52% 0.62% 0.77%
Intangibles $728.1M $776.7M $951.6M
YoY Change -18.56% -18.38% -14.79%
Long-Term Investments $139.0M
YoY Change 18.8%
Other Assets $185.8M $190.5M $154.6M
YoY Change 16.57% 23.2% 1.52%
Total Long-Term Assets $3.094B $3.178B $3.260B
YoY Change -3.61% -2.53% -6.22%
TOTAL ASSETS
Total Short-Term Assets $6.271B $6.061B $4.447B
Total Long-Term Assets $3.094B $3.178B $3.260B
Total Assets $9.365B $9.239B $7.707B
YoY Change 17.16% 19.87% 7.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $300.2M $322.2M $252.5M
YoY Change 34.31% 27.58% 45.72%
Accrued Expenses $649.4M $588.9M $515.5M
YoY Change 7.47% 14.23% 19.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.358B $521.0M $515.7M
YoY Change 162.9% 1.03% 25685.0%
Total Short-Term Liabilities $2.631B $1.735B $1.543B
YoY Change 66.33% 12.46% 92.59%
LONG-TERM LIABILITIES
Long-Term Debt $994.0M $2.012B $799.4M
YoY Change 23.18% 151.69% -37.66%
Other Long-Term Liabilities $184.0M $189.3M $111.3M
YoY Change 50.02% 70.0% -56.87%
Total Long-Term Liabilities $1.178B $189.3M $910.7M
YoY Change 26.72% -79.22% -40.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.631B $1.735B $1.543B
Total Long-Term Liabilities $1.178B $189.3M $910.7M
Total Liabilities $4.020B $3.961B $2.716B
YoY Change 44.58% 45.85% 4.29%
SHAREHOLDERS EQUITY
Retained Earnings $4.097B $4.013B $3.372B
YoY Change 14.57% 19.03% 16.79%
Common Stock $5.367B $158.0K $162.0K
YoY Change 3312820.99% -2.47% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.303B $4.233B $3.724B
YoY Change 14.53% 13.67% 4.89%
Treasury Stock Shares 99.56M shares 98.85M shares 92.47M shares
Shareholders Equity $5.103B $5.097B $4.807B
YoY Change
Total Liabilities & Shareholders Equity $9.365B $9.239B $7.707B
YoY Change 17.16% 19.87% 7.85%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $131.3M $206.3M $164.4M
YoY Change -43.74% 25.48% 765.24%
Depreciation, Depletion And Amortization $70.20M $70.30M $73.20M
YoY Change -1.4% -3.96% -2.27%
Cash From Operating Activities $292.1M $191.0M $290.3M
YoY Change 18.84% -34.21% 183.5%
INVESTING ACTIVITIES
Capital Expenditures -$63.20M -$31.90M -$41.60M
YoY Change 51.2% -23.32% 19.54%
Acquisitions
YoY Change
Other Investing Activities -$277.3M -$362.7M -$54.20M
YoY Change 748.01% 569.19% 333.6%
Cash From Investing Activities -$340.5M -$394.6M -$95.80M
YoY Change 357.05% 311.9% 102.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -87.50M 862.6M -34.50M
YoY Change 674.34% -2600.29% -84.41%
NET CHANGE
Cash From Operating Activities 292.1M 191.0M 290.3M
Cash From Investing Activities -340.5M -394.6M -95.80M
Cash From Financing Activities -87.50M 862.6M -34.50M
Net Change In Cash -135.9M 659.0M 160.0M
YoY Change -184.94% 311.88% -196.33%
FREE CASH FLOW
Cash From Operating Activities $292.1M $191.0M $290.3M
Capital Expenditures -$63.20M -$31.90M -$41.60M
Free Cash Flow $355.3M $222.9M $331.9M
YoY Change 23.54% -32.84% 141.91%

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LAM RESEARCH CORP
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