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Lam RESEARCH Lam Research Corporation Reports Financial Results for the Quarter Ended September 26 , 2021 October 20 , 2021 FREMONT , Calif . , Oct. 20 , 2021 ( GLOBE NEWSWIRE ) -- Lam Research Corporation ( the " Company , " " Lam , " " Lam Research " ) today announced financial results for the quarter ended September 26 , 2021 ( the " September 2021 quarter " ) . Highlights for the September 2021 quarter were as follows : • Revenue of $ 4.30 billion . • U.S. GAAP gross margin of 45.9 % , U.S. GAAP operating income as a percentage of revenue of 31.9 % , and U.S. GAAP diluted EPS of $ 8.27 . • Non - GAAP gross margin of 46.0 % , non - GAAP operating income as a percentage of revenue of 32.4 % , and non - GAAP diluted EPS of $ 8.36 . Key Financial Data for the Quarters Ended September 26 , 2021 and June 27 , 2021 ( in thousands , except per - share data , percentages , and basis points ) U.S. GAAP Revenue Gross margin as percentage of revenue Operating income as percentage of revenue Diluted EPS Revenue Gross margin as percentage of revenue Operating income as percentage of revenue Diluted EPS Non - GAAP September 2021 4,304,465 $ 45.9 % 31.9 % 8.27 $ $ $ September 2021 $ $ 4,304,465 46.0 % 32.4 % 8.36 $ $ June 2021 4,145,179 46.2 % 31.7 % 7.98 June 2021 4,145,179 The geographic distribution of revenue during the September 2021 quarter is shown in the following table : Region 46.5 % 32.6 % 8.09 Change Q / Q + 4 % - 30 bps +20 bps + 4 % Change Q / Q + 4 % 50 bps -20 bps - + 3 % U.S. GAAP Financial Results For the September 2021 quarter , revenue was $ 4,304 million , gross margin was $ 1,977 million , or 45.9 % of revenue , operating expenses were $ 605 million , operating income was 31.9 % of revenue , and net income was $ 1,180 million , or $ 8.27 per diluted share on a U.S. GAAP basis . This compares to revenue of $ 4,145 million , gross margin of $ 1,915 million , or 46.2 % of revenue , operating expenses of $ 599 million , operating income of 31.7 % of revenue , and net income of $ 1,145 million , or $ 7.98 per diluted share , for the quarter ended June 27 , 2021 ( the " J une 2021 quarter " ) . Non - GAAP Financial Results For the September 2021 quarter , non - GAAP gross margin was $ 1,980 million , or 46.0 % of revenue , non - GAAP operating expenses were $ 586 million , non - GAAP operating income was 32.4 % of revenue , and non - GAAP net income was $ 1,192 million , or $ 8.36 per diluted share . This compares to non - GAAP gross margin of $ 1,926 million , or 46.5 % of revenue , non - GAAP operating expenses of $ 574 million , non - GAAP operating income of 32.6 % of revenue , and non - GAAP net income of $ 1,161 million , or $ 8.09 per diluted share , for the June 2021 quarter . " Driven by strong demand and solid execution , Lam delivered its sixth consecutive quarter of record revenue and earnings per share , " said Tim Archer , Lam Research's President and Chief Executive Officer . " In a robust wafer fabrication equipment environment , Lam is delivering the innovation needed for the success of our customers ' semiconductor manufacturing roadmaps . " Balance Sheet and Cash Flow Results Cash and cash equivalents , short - term investments , and restricted cash and investments balances decreased to $ 4.9 billion at the end of the September 2021 quarter compared to $ 6.0 billion at the end of the June 2021 quarter . This decrease was primarily the result of $ 1.2 billion of share repurchases , including net share settlement of employee stock - based compensation ; $ 185.4 million of dividends paid to stockholders ; and $ 136.4 million of capital expenditures , partially offset by $ 457.5 million of cash generated from operating activities . Revenue Revenue