Lam Research Corp. announced unaudited consolidated financial results for the second quarter and six months ended December 25, 2016. For the quarter, the company reported revenue of $1,882,299,000 against $1,425,534,000 a year ago. Operating income was $439,828,000 against $238,834,000 a year ago. Income before income taxes was $384,805,000 against $208,899,000 a year ago. Net income was $332,791,000 against $222,980,000 a year ago. Diluted net income per share was $1.81 against $1.28 a year ago. Net cash provided by operating activities was $404,098,000 against $294,545,000 a year ago. Capital expenditures and intangible assets was $36,513,000 against $41,979,000 a year ago. Non-GAAP operating income was $489,933,000. Non-GAAP net income was $405,190,000 and non-GAAP diluted net income per share was $2.24.

For the six months, the company reported revenue of $3,514,718,000 against $3,025,577,000 a year ago. Operating income was $755,775,000 against $574,262,000 a year ago. Income before income taxes was $677,598,000 against $517,206,000 a year ago. Net income was $596,626,000 against $511,659,000 a year ago. Diluted net income per share was $3.28 against $2.94 a year ago. Net cash provided by operating activities was $877,322,000 against $743,542,000 a year ago. Capital expenditures and intangible assets was $41,979,000 against $77,597,000 a year ago.

The company provided earnings guidance for the quarter ending March 2017. For the period, on GAAP basis the company expects revenue of $2.125 billion plus or minus $75 million. Expected for gross margin is 44.5% plus or minus 1%. The company expects net income diluted per share of $2.31 plus or minus $0.10. On non-GAAP basis the company expects revenue of $2.125 billion plus or minus $75 million. Expected for gross margin is 45.5% plus or minus 1%. The company expects net income diluted per share of $2.55 plus or minus $0.10.