Stock Analysis on Net
Stock Analysis on Net
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Lam Research Corp. (NASDAQ:LRCX)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Lam Research Corp., consolidated income statement (quarterly data)

US$ in thousands

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3 months ended: Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
Revenue 3,177,080  2,791,864  2,503,625  2,583,501  2,165,746  2,361,147  2,439,048  2,522,673  2,330,691  3,125,928  2,892,115  2,580,815  2,478,140  2,344,907  2,153,995  1,882,299  1,632,419  1,546,261  1,314,055  1,425,534  1,600,043  1,481,370  1,393,333  1,232,241  1,152,368 
Cost of goods sold (1,670,901) (1,511,532) (1,336,618) (1,403,857) (1,184,036) (1,280,256) (1,364,711) (1,377,640) (1,272,493) (1,646,520) (1,561,401) (1,375,248) (1,328,797) (1,275,946) (1,182,591) (1,035,502) (916,222) (847,477) (742,790) (799,024) (877,680) (839,832) (792,731) (695,584) (646,829)
Gross margin 1,506,179  1,280,332  1,167,007  1,179,644  981,710  1,080,891  1,074,337  1,145,033  1,058,198  1,479,408  1,330,714  1,205,567  1,149,343  1,068,961  971,404  846,797  716,197  698,784  571,265  626,510  722,363  641,538  600,602  536,657  505,539 
Research and development (355,367) (338,810) (307,914) (318,861) (286,827) (295,578) (318,514) (285,556) (291,672) (327,713) (305,412) (281,311) (275,078) (285,712) (265,986) (246,804) (235,240) (237,255) (221,494) (220,754) (234,209) (221,675) (217,865) (196,768) (188,934)
Selling, general, and administrative (189,748) (185,800) (164,979) (174,272) (157,428) (168,228) (190,306) (169,098) (174,775) (196,500) (197,791) (186,885) (181,043) (175,310) (167,000) (160,165) (165,010) (152,288) (159,018) (166,922) (152,726) (149,384) (142,772) (151,148) (148,307)
Goodwill impairment —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (79,444) —  —  — 
Operating expenses (545,115) (524,610) (472,893) (493,133) (444,255) (463,806) (508,820) (454,654) (466,447) (524,213) (503,203) (468,196) (456,121) (461,022) (432,986) (406,969) (400,250) (389,543) (380,512) (387,676) (386,935) (450,503) (360,637) (347,916) (337,241)
Operating income 961,064  755,722  694,114  686,511  537,455  617,085  565,517  690,379  591,751  955,195  827,511  737,371  693,222  607,939  538,418  439,828  315,947  309,241  190,753  238,834  335,428  191,035  239,965  188,741  168,298 
Other income (expense), net (38,792) (7,553) (64,619) (13,924) (12,728) (7,667) 20,532  (30,649) (377) 2,954  (55,810) (3,152) (5,502) (4,444) (7,838) (55,023) (23,154) (27,249) (29,834) (29,935) (27,121) (20,353) (11,389) (9,799) (5,648)
Income before income taxes 922,272  748,169  629,495  672,587  524,727  609,418  586,049  659,730  591,374  958,149  771,701  734,219  687,720  603,495  530,580  384,805  292,793  281,992  160,919  208,899  308,307  170,682  228,576  178,942  162,650 
Income tax (expense) benefit (98,821) (51,496) (54,714) (158,077) (58,938) (67,593) (38,659) (90,875) (58,014) 62,997  7,099  (744,174) (97,030) (77,071) 44,133  (52,014) (28,958) (23,053) (17,468) 14,081  (19,628) (39,411) (22,291) (2,002) (21,569)
Net income (loss) 823,451  696,673  574,781  514,510  465,789  541,825  547,390  568,855  533,360  1,021,146  778,800  (9,955) 590,690  526,424  574,713  332,791  263,835  258,939  143,451  222,980  288,679  131,271  206,285  176,940  141,081 

Based on: 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Lam Research Corp.’s revenue increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. Lam Research Corp.’s operating income increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lam Research Corp.’s income before income taxes increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lam Research Corp.’s net income (loss) increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.