EXHIBIT 11.1
LAM RESEARCH CORPORATION
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
Three Months Ended
(in thousands except per share data)
--------------------------------------------------------
December 31, December 31,
1996 1995
-------- -------- -------- --------
Fully Fully
Primary Diluted Primary Diluted
-------- -------- -------- --------
Net income $2,493 $2,493 $33,479 $33,479
Add interest expense on convertible
subordinated debentures, net of
income tax effect 975
-------- -------- -------- --------
$2,493 $2,493 $33,479 $34,454
======== ======== ======== ========
Average shares outstanding 30,266 30,266 27,375 27,305
Net effect of dilutive
stock options 634 634 925 930
Assumed conversion of convertible
subordinated debentures 2,640
-------- -------- -------- --------
30,900 30,900 28,300 30,875
======== ======== ======== ========
Net income per share $0.08 $0.08 $1.18 $1.12
======== ======== ======== ========
Six Months Ended
(in thousands except per share data)
--------------------------------------------------------
December 31, December 31,
1996 1995
-------- -------- ------------------------
Fully Fully
Primary Diluted Primary Diluted
-------- -------- -------- --------
Net income $13,103 $13,103 $63,946 $63,946
Add interest expense on convertible
subordinated debentures, net of
income tax effect 1,748
-------- -------- -------- --------
$13,103 $13,103 $63,946 $65,694
======== ======== ======== ========
Average shares outstanding 30,266 30,266 27,313 27,313
Net effect of dilutive
stock options 484 484 1,037 1,047
Assumed conversion of convertible
subordinated debentures 2,640
-------- -------- -------- --------
30,750 30,750 28,350 31,000
======== ======== ======== ========
Net income per share $0.43 $0.43 $2.26 $2.12
======== ======== ======== ========
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