Document
false0000707549 0000707549 2020-03-17 2020-03-17

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
 Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 17, 2020
LAM RESEARCH CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware
 
0-12933
 
94-2634797
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification Number)
4650 Cushing Parkway
Fremont, California 94538
(Address of principal executive offices including zip code)
(510572-0200
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, Par Value $0.001 Per Share
LRCX
The Nasdaq Stock Market
 
 
(Nasdaq Global Select Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company     
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
    





 
Table of Contents

 
 
 
 
 
Item 7.01.
 
Regulation FD Disclosure

 
Item 9.01.
 
Financial Statements and Exhibits
 
SIGNATURES
 





Table of Contents

Item 7.01.
Regulation FD Disclosure


On March 17, 2020, Lam Research Corporation (the “Company”) issued a press release relating to a business update for the third fiscal quarter ending March 29, 2020. A copy of the press release is attached as Exhibit 99.1 to this report.
The information in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished under Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01.
Financial Statements and Exhibits



(d) Exhibits
99.1



Table of Contents


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
March 17, 2020
 
LAM RESEARCH CORPORATION
 
 
 
(Registrant)
 
 
 
/s/ Douglas R. Bettinger
 
 
 
Douglas R. Bettinger
 
 
 
Executive Vice President, Chief Financial Officer
 
 
 
 


Exhibit


FOR IMMEDIATE RELEASE        
Lam Research Corporation Provides Business Update for the Fiscal Quarter ending March 29, 2020
FREMONT, Calif., March 17, 2020 - Lam Research Corporation (Nasdaq: LRCX) (the "Company," "Lam," "Lam Research") is providing the following business update.
On March 16, 2020, multiple bay area counties in California issued a “shelter-in-place” order, which requires the Company to temporarily stop on-site work at its Fremont and Livermore locations for three weeks effective March 17, 2020. Additionally, Lam has supply chain activities in Malaysia, and on March 16, 2020, the Malaysian government issued an order to close certain business activities from March 18 through March 31, 2020. The implementation of these orders prevents the Company from manufacturing products at its Livermore and Fremont, California facilities and receiving required parts from key suppliers. These government directives may impact our ability to meet our March quarter financial guidance. The March 2020 quarter financial guidance we provided on January 29, 2020 reflected the best information available as of that time, but due to the disruptions and uncertainties resulting from these recent actions, the Company is withdrawing its prior financial guidance for the fiscal quarter ending March 29, 2020.
As we closely monitor the impact of the COVID-19 virus, our top priority remains the health and safety of our employees and partners. The situation is evolving, and we will provide more information during our next earnings call.
About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world’s leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-F)
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our financial guidance for the March quarter; and our ability to procure parts, manufacture products, or ship products to customers. Some factors that may affect these forward-looking statements include: public health requirements in response to the outbreak of COVID-19 and impact thereof on our business and operations is evolving and beyond our control; changes to business, political and/or regulatory conditions affecting the consumer electronics industry, the semiconductor industry and the overall global economy; the actions of our customers and competitors may be inconsistent with our expectations; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2019 and our quarterly reports on Form 10-Q for the fiscal quarters ended September 29, 2019 and December 29, 2019. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
Doug Bettinger, Executive Vice President, Chief Financial Officer
Phone number: 510-572-1615
Email: investor.relations@lamresearch.com