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Lam reports EPS beat, expects strong demand

• Lam Research (NASDAQ:LRCX) reports Q3 results for the period ending on March 29 that beat EPS estimates and narrowly missed on revenue.
  
• Adjusted gross margin was 46.3% versus last year's 45.1%.
  
• Operating margin was 26.9%.
  
• Cash and equivalents totaled $5.6B at the end of the quarter, primarily due to a $1.25B credit facility draw down and $541.4M of cash from operating activities.
  
• Coronvirus comments: Management notes the limited visibility going forward but says customer demand "remains strong."
  

• Earnings call starts at 5 PM with a webcast here.
  

• Press release.
  

• Lam shares are down 4.6% after hours after closing today up 11.6%.
  

https://seekingalpha.com/news/3563293-la...ong-demand