EXHIBIT 11.1
LAM RESEARCH CORPORATION
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
Three Months Ended
(in thousands except per share data)
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March 31, March 31,
1996 1995
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Fully Fully
Primary Diluted Primary Diluted
------- ------- ------- -------
Net income $38,649 $38,649 $24,793 $24,793
Add interest expense on convertible
subordinated debentures, net of
income tax effect 880 735
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$38,649 $39,529 $24,793 $25,528
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Average shares outstanding 27,335 27,325 26,766 26,766
Net effect of dilutive
stock options 865 885 1,134 1,194
Assumed conversion of convertible
subordinated debentures 2,640 2,640
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28,200 30,850 27,900 30,600
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Net income per share $1.37 $1.28 $0.89 $0.83
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Nine Months Ended
(in thousands except per share data)
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March 31, March 31,
1996 1995
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Fully Fully
Primary Diluted Primary Diluted
-------- -------- ------- -------
Net income $102,595 $102,595 $58,777 $58,777
Add interest expense on convertible
subordinated debentures, net of
income tax effect 2,628 2,205
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$102,595 $105,223 $58,777 $60,982
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Average shares outstanding 27,327 27,327 25,808 25,811
Net effect of dilutive
stock options 973 983 1,142 1,309
Assumed conversion of convertible
subordinated debentures 2,640 2,640
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28,300 30,950 26,950 29,760
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Net income per share $3.63 $3.40 $2.18 $2.05
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