EXHIBIT 11.1 ------------ LAM RESEARCH CORPORATION STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Unaudited) Three Months Ended (In thousands except per share data) ---------------------------------------------- September 30, September 30, 1996 1995 ------- -------- ------- -------- Fully Fully Primary Diluted Primary Diluted ------- -------- ------- -------- Net income $10,610 $10,610 $30,467 $30,467 Add interest expense on convertible subordinated debentures, net of income tax effect 803 ------- -------- ------- -------- $10,610 $10,610 $30,467 $31,270 ======= ======= ======= ======= Average shares outstanding 30,274 30,274 27,293 27,293 Net effect of dilutive stock options 326 326 1,107 1,192 Assumed conversion of convertible subordinated debentures 2,640 ------- -------- ------- -------- 30,600 30,600 28,400 31,125 ======= ======== ======= ======== Net income per share $ 0.35 $ 0.35 $ 1.07 $ 1.00 ======= ======== ======= ======== 16