Lam Research Corporation Q1 Income Declines 9%

(RTTNews) - Lam Research Corporation (LRCX) announced a profit for first quarter that decreased from last year.

The company said its earnings declined to $263.84 million, or $1.47 per share. This was down from $288.68 million, or $1.66 per share, in last year's first quarter.

The company said revenue for the quarter rose 1.9% to $1.63 billion. This was up from $1.60 billion last year.

Lam Research Corporation earnings at a glance:

-Earnings (Q1): $263.84 Mln. vs. $288.68 Mln. last year. -Earnings Decline (Y-o-Y): -8.6% -EPS (Q1): $1.47 vs. $1.66 last year. -EPS Decline (Y-o-Y): -11.4% -Revenue (Q1): $1.63 Bln vs. $1.60 Bln last year. -Revenue Change (Y-o-Y): 1.9%