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Item 6. Selected Financial Data

6K characters. Original on sec.gov ·

Item 6. Selected Financial Data



	Year Ended
June 30, 2019				June 24, 2018				June 25, 2017				June 26, 2016				June 28, 2015
	(in thousands, except per share data)
OPERATIONS:
Revenue	$	9,653,559			$	11,076,998			$	8,013,620			$	5,885,893			$	5,259,312
Gross margin	4,358,459				5,165,032				3,603,359				2,618,922				2,284,336
Goodwill impairment (1)	—				—				—				—				79,444
Operating income	2,464,732				3,213,299				1,902,132				1,074,256				788,039
Net income	2,191,430				2,380,681				1,697,763				914,049				655,577
Net income per share:
Basic	$	14.37			$	14.73			$	10.47			$	5.75			$	4.11
Diluted	$	13.70			$	13.17			$	9.24			$	5.22			$	3.70
Cash dividends declared per common share	$	4.40			$	2.55			$	1.65			$	1.20			$	0.84
BALANCE SHEET:
Working capital	$	6,188,759			$	5,999,603			$	6,192,383			$	6,795,109			$	3,639,488
Total assets	12,001,333				12,479,478				12,122,765				12,264,315			(2)	9,358,904			(2)
Long-term obligations, less current portion	4,906,379				2,749,127				2,185,338				3,744,205			(2)	1,386,536			(2)
Current portion of long-term debt and capital leases	667,131				610,030				908,439				947,733			(2)	1,355,705			(2)


(1)	Goodwill impairment analysis during fiscal year 2015 resulted in a non-cash impairment charge to our Clean reporting unit, extinguishing the goodwill ascribed to the reporting unit.


(2)	Adjusted for effects of retrospective implementation of ASU 2015-3 in the first quarter of fiscal 2017.

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Lam Research Corporation 2019 10-K 30



	Three Months Ended (1)
June 30, 2019				March 31, 2019				December 23, 2018				September 23, 2018
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2019:
Revenue	$	2,361,147			$	2,439,048			$	2,522,673			$	2,330,691
Gross margin	1,080,891				1,074,337				1,145,033				1,058,198
Operating income	617,085				565,517				690,379				591,751
Net income	541,825				547,390				568,855				533,360
Net income per share
Basic	$	3.66			$	3.62			$	3.67			$	3.43
Diluted	$	3.51			$	3.47			$	3.51			$	3.23
Number of shares used in per share calculations:
Basic	148,131				151,201				155,022				155,658
Diluted	154,474				157,849				162,170				165,327



	Three Months Ended (1)
June 24, 2018				March 25, 2018				December 24, 2017				September 24, 2017
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2018:
Revenue	$	3,125,928			$	2,892,115			$	2,580,815			$	2,478,140
Gross margin	1,479,408				1,330,714				1,205,567				1,149,343
Operating income	955,195				827,511				737,371				693,222
Net income (loss)	1,021,146			(2)	778,800				(9,955		)	(2)	590,690
Net income (loss) per share
Basic	$	6.35			$	4.80			$	(0.06	)	(2)	$	3.64
Diluted	$	5.82			$	4.33			$	(0.06	)	(2)	$	3.21
Number of shares used in per share calculations:
Basic	160,916				162,378				161,135				162,141
Diluted	175,432				179,779				161,135				183,880


(1)	Our reporting period is a 52/53-week fiscal year. The fiscal years ended June 30, 2019, and June 24, 2018, included 53 and 52 weeks, respectively. All quarters presented above included 13 weeks, except for the quarter ended March 31, 2019, which includes 14 weeks.


(2)	The comparability of our quarter ended December 24, 2017 was affected by a $757 million provisional charge associated with the December 2017 U.S. tax reform. During the quarter ended June 24, 2018, $116 million of this provisional charge was reversed.

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