EXHIBIT 11.1
LAM RESEARCH CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE YEARS ENDED JUNE 30, 1995, 1994 AND 1993
(IN THOUSANDS, EXCEPT PER SHARE DATA)
FULLY
PRIMARY DILUTED
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Year-ended June 30, 1995
Net Income................................................................................. $ 89,211 $ 89,211
Add interest expense on convertible subordinated debentures, net of tax.................... -- 3,455
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$ 89,211 $ 92,666
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Average shares outstanding............................................................... 26,090 26,090
Net effect of dilutive stock options..................................................... 1,210 1,570
Assumed conversion of subordinated debentures............................................ -- 2,640
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Common and common equivalent shares used in computing per share amounts.................... 27,300 30,300
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Net income per share....................................................................... $ 3.27 $ 3.06
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Year-ended June 30, 1994
Net Income................................................................................. $ 37,756 $ 37,756
Add interest expense on convertible subordinated debentures, net of tax.................... -- 2,940
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$ 37,756 $ 40,696
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Average shares outstanding............................................................... 23,389 23,389
Net effect of dilutive stock options..................................................... 911 971
Assumed conversion of subordinated debentures............................................ -- 2,640
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Common and common equivalent shares used in computing per share amounts.................... 24,300 27,000
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Net income per share....................................................................... $ 1.55 $ 1.51
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Year-ended June 30, 1993
Net Income................................................................................. $ 18,907 $ 18,907
Add interest expense on convertible subordinated debentures, net of tax.................... -- 441
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$ 18,907 $ 19,348
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Average shares outstanding............................................................... 22,751 22,751
Net effect of dilutive stock options..................................................... 1,249 1,429
Assumed conversion of subordinated debentures............................................ -- 420
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Common and common equivalent shares used in computing per share amounts.................... 24,000 24,600
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Net income per share....................................................................... $ 0.79 $ 0.79
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