-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LhrF0kHVcm90Na6Mie4hDn4hWiCQf1JzswPpw+IOSkOIok/RW3VY7qkFS2gag5Jg a8MJ6AZNKejgUxFPMN8jEg== 0000891618-98-003256.txt : 19980714 0000891618-98-003256.hdr.sgml : 19980714 ACCESSION NUMBER: 0000891618-98-003256 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980624 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980710 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: LAM RESEARCH CORP CENTRAL INDEX KEY: 0000707549 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 942634797 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12701 FILM NUMBER: 98664174 BUSINESS ADDRESS: STREET 1: 4650 CUSHING PKWY CITY: FREMONT STATE: CA ZIP: 94538 BUSINESS PHONE: 5106590200 MAIL ADDRESS: STREET 1: 4650 CUSHING PARKWAY CITY: FREMONT STATE: CA ZIP: 94538 8-K 1 FORM 8-K DATED JUNE 24, 1998 1 Page one of six pages. Exhibit Index is on Page four. ================================================================================ 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): June 24, 1998 LAM RESEARCH CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) DELAWARE 000-12933 94-2634797 - ---------------------------- ------------------------ ------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 4650 CUSHING PARKWAY, FREMONT, CALIFORNIA 94538 ----------------------------------------------- (Address of Principal Executive Offices) (510) 659-0200 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Not Applicable -------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report.) 2 ITEM 5. OTHER EVENTS On June 24, 1998, Lam Research Corporation (the "Company") announced a reduction in workforce and corporate restructuring. Attached hereto as Exhibit 99.1 is the Company's press release dated June 24, 1998. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits 99.1 Lam Research Corporation Press Release dated June 24, 1998. 2 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATED: July 9, 1998 LAM RESEARCH CORPORATION By: /s/ Richard H. Lovgren ------------------------------- Name: Richard H. Lovgren ----------------------------- Title: Vice President, Secretary and General Counsel 3 4 EXHIBIT INDEX
Page No. in Sequentially Exhibit No. Description Numbered Current Report - ----------- ----------- ----------------------- 99.1 Lam Research Corporation Press Release 5 dated June 24, 1998.
4 EX-99.1 2 LAM RESEARCH CORPORATION PRESS RELEASE 06/24/98 1 Exhibit 99.1 FOR IMMEDIATE RELEASE Contacts: Melodie Brenner Kathleen Bela Corporate Communications Investor Relations Lam Research Corporation Lam Research Corporation Phone: 510/572-4523 Phone: 510/572-4566 Fax: 510/572-2935 Fax: 510/572-6454 e-mail:melodie.brenner@lamrc.com e-mail:kathleen.bela@lamrc.com LAM RESEARCH ANNOUNCES REDUCTION IN WORK FORCE AND CORPORATE RESTRUCTURING FREMONT, Calif., June 24, 1998- Lam Research Corporation (Nasdaq: LRCX), a leading supplier of wafer fabrication equipment to the worldwide semiconductor industry, today announced its intention to restructure the company including a reduction in its global work force of approximately 20 to 25 percent. Further weakening in the order outlook for semiconductor capital equipment is cited as the reason for the action. The company expects that a restructuring charge will be taken in the range of $55 to $65 million for the quarter ending June 30, 1998, with no anticipated tax benefit. The restructuring charge includes costs related to severance compensation and facilities consolidation, as well as write-off of assets utilized in affected operations. Management noted that the company anticipates meeting analysts' fourth quarter expectations on operating results, excluding the restructuring charge. "Industry investment has further decreased across all regions. We anticipate current business conditions to continue into calendar 1999, with capital spending in calendar 1998 down as much as 30% over 1997 levels," stated James W. Bagley, Lam's chief executive officer. "Based on this view of the industry, we have made the decision to realign the company's cost structure while preserving key research and development investments to provide for new products. We will continue to implement new business processes and global customer support strategies as part of our ongoing efforts at improving operating efficiencies. This focus will ensure the company is well positioned when the market recovers," Bagley concluded. ## more ## 2 Lam Research Corporation is a leading supplier of wafer fabrication equipment and services to the world's semiconductor industry. Lam's headquarters are located in Fremont, California. The company's common stock trades on the Nasdaq National Securities Market under the symbol "LRCX." Lam's World Wide Web address is "http://www.lamrc.com." Safe Harbor This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to the Safe Harbor provisions created thereunder. Such forward-looking statements include, but are not limited to, statements that relate to the company's future revenue and operating expenses, management's plans and objectives for future operations, the effect of any contemplated consolidation or restructuring of operations on the company's future profitability, and a continued downturn in the semiconductor market. Such statements are based on current expectations that may involve other risks detailed from time to time in the company's SEC reports, including the report on Form 10-K for the year ended June 30, 1997 and the Form 10-Q for the quarter ended March 31, 1998. The company assumes no obligation to update the information in this release. -----END PRIVACY-ENHANCED MESSAGE-----