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Semiconductor equipment maker $LRCX slipped into the negative territory in 2Q18, hurt by a substantial income tax expense. The loss was $0.06 per share, compared to earnings of $1.81 per share a year earlier. Meanwhile, revenues surged 37% YoY to $2.58Bil, supported by strong demand across all markets. Total shipments came in at $2.63Bil.
$LRCX’s BoD has approved a $2Bil share repurchase authorization, with execution planned over the next 12 to 18 months. The board has also approved a 11% increase of the company's quarterly dividend, payable on Jan. 10, 2018 to holders of record on Dec. 6, 2017.
$LRCX said it is looking for revenues of about $2.55Bil for 2Q18, and shipments of around $2.6Bil. GAAP earnings and non-GAAP earnings are forecast to be around $3.40 per share and $3.65 per share, respectively. The company sees GAAP gross margin of 46.6% for second quarter. Non-GAAP gross margin is estimated to be about 47.5%.
Earnings of $LRCX, an engineering firm in the semiconductor industry, more than doubled to $3.21 per share in 1Q18. On an adjusted basis, net income was $3.46 per share. The strong bottom-line growth was the result of a 52% annual growth in revenues to $2.48Bil. The total value of shipments was $2.38Bil during the quarter.
$LRCX and $NSTG announced a strategic collaboration to develop $NSTG’s proprietary Hyb & Seq next-generation sequencing platform. $LRCX will provide up to $50MM of funding over a development period expected to last about 3 years. $LRCX will also receive a warrant to purchase 1MM shares of $NSTG common stock at $16.75 per share.
$LRCX expects its 1Q18 earnings to be in the range of $2.86-$3.1 per share. The company forecasts first quarter revenues to be between $2.35BIl and $2.55Bil. Lam Research sees non-GAAP EPS in the range of $3.13 to $3.37 for the quarter. Total shipments are expected to be in the range of $2.25Bil to $2.45Bil.
Semiconductor equipment maker $LRCX said its 4Q17 profit more than doubled to $526.4MM as revenues jumped 52% YoY to $2.35Bil. The growth reflected an increase in demand across the markets. EPS advanced to $2.82. On a non-GAAP basis, EPS rose to $3.11 from $2.8 a year earlier. The value of shipments totaled $2.54Bil during the quarter.
$AMD has announced the appointment of Abhi Y. Talwalkar to its BoD. He currently serves on the boards of $LRCX, iRhythm Technologies, Inc., and $TEL. Additionally, the company has increased the annual base salary of CFO Devinder Kumar, SVP James R. Anderson and CTO Mark D. Papermaster, effective July 1, 2017.
$LRCX entered into accelerated stock repurchase agreements. This is as part of its $1Bil stock repurchase program. The stock repurchase program is targeted to be completed within 12 to 18 months from the date of its announcement on Nov. 18, 2016. $LRCX will make upfront $500MM to Counterparties in exchange for about 2.6MM common shares.
$LRCX entered into accelerated stock repurchase agreements with BNP Paribas and Citibank to repurchase an aggregate of $500MM of its common stock. $LRCX will buy its common stock as part of its $1Bil stock repurchase program (and, with anticipated annual dividends, amounting to a $1.3Bil capital return program).
$LRCX posted higher earnings in 3Q17, partly benefited from an income tax benefit on the conclusion of tax matters primarily related to a prior business combination. Net income climbed to $575MM, or $3.10 per share, from $143.4MM, or $0.82 per share, in last year's third quarter. On a non-GAAP basis, the company posted earnings of $2.80 per share.