Lam Research Corporation Named to 2006 List of ''100 Fastest-Growing Technology Companies''
June 05 2006 - 5:05PM
Business Wire
Lam Research Corporation (NASDAQ:LRCX) today announced that the
Company was named to Business 2.0's 2006 list of "100
Fastest-Growing Technology Companies," known as the "B2 100." Lam
ranked number 1 for earnings growth, number 12 for operating cash
flow growth, and number 21 overall. For the B2 100, Business 2.0
selected from among more than 2,000 technology companies that have
been publicly traded on a U.S. stock exchange for at least 3 years.
Companies considered had market capitalization of at least $50
million and positive operating cash flow for the past 12 months.
Zacks Investment Research (Chicago) ranked qualified companies
based on four financial criteria: growth in revenue, profit, and
operating cash flow during the past 3 years and 12-month stock
return as of December 2005. Cash flow growth was weighted at 40
percent; other criteria were weighted at 20 percent each. "We are
honored to be named to this prestigious list of technology leaders
and to have achieved high rankings in both the earnings and
operating cash flow growth categories," stated Steve Newberry,
president and chief executive officer of Lam. "Our success in
growing cash flow is particularly rewarding since this is an area
in which we have both set and exceeded aggressive goals. We
achieved record cash generation from operations in calendar year
2005 of $394 million and are continuing to generate strong positive
cash flow in 2006. This solid performance reflects our commitment
to create value for our customers, shareholders, and employees."
The list and company rankings are available on www.business2.com
and will be published in the June 2006 print issue of Business 2.0,
published by the Time, Inc. Business and Finance Network.
Statements made in this press release which are not statements 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 the Company's ability to continue to meet or exceed goals
for growth in cash flow and generate positive cash flow during
2006. Some factors that may affect these forward-looking statements
include: changing business conditions in the semiconductor industry
and the overall economy and our plans for reacting to those
changes. These forward-looking statements are based on current
expectations and are subject to uncertainties and changes in
condition, significance, value and effect as well as other risks
detailed in documents filed with the Securities and Exchange
Commission, including specifically the report on Form 10-K for the
year ended June 26, 2005, and Form 10-Q for the quarter ended March
26, 2006, which could cause actual results to vary from
expectations. The Company undertakes no obligation to update the
information or statements made in this press release. Lam Research
Corporation is a major supplier of wafer fabrication equipment and
services to the world's semiconductor industry. Lam's common stock
trades on The NASDAQ National Market(R) under the symbol LRCX. Lam
is a NASDAQ-100(R) company. The Company's World Wide Web address is
http://www.lamresearch.com.
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