EXHIBIT 11.1
LAM RESEARCH CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE YEARS ENDED JUNE 30, 1996, 1995 AND 1994
(IN THOUSANDS, EXCEPT PER SHARE DATA)
FULLY
PRIMARY DILUTED
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Year-ended June 30, 1996
Net Income . . . . . . . . . . . . . . . . . . . . . . $141,091 $141,091
Add interest expense on convertible subordinated
debentures, net of tax . . . . . . . . . . . . . . . - 3,264
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$141,091 $144,355
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Average shares outstanding. . . . . . . . . . . . . 27,768 27,768
Net effect of dilutive stock options. . . . . . . . 932 950
Assumed conversion of subordinated debentures . . . - 2,222
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Common and common equivalent shares used in
computing per share amounts. . . . . . . . . . . . . 28,700 30,940
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Net income per share . . . . . . . . . . . . . . . . . $4.92 $4.67
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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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