What is the overall financial health of Lam Research Corporation as indicated by this 2004 10-K?

This 10-K report, filed in September 2004, covers the fiscal year ending June 27, 2004. While specific revenue and profit figures are not detailed in the provided text, it highlights key operational and financial aspects. The decrease in the allowance for doubtful accounts suggests a positive trend in accounts receivable management. As an accelerated filer, the company demonstrates established reporting practices. Investors should refer to the 'Selected Consolidated Financial Data' and 'Management's Discussion and Analysis' sections within the full report for detailed financial performance metrics.

What are the key financial risks or liabilities mentioned or implied in this filing?

The provided text of the 10-K focuses on the structure of the report and exhibits, rather than detailed financial statements. However, the 'Valuation and Qualifying Accounts' schedule shows an allowance for doubtful accounts. The decrease in this allowance from $4.995 million in FY2003 to $3.865 million in FY2004 is noted. This suggests that while the company manages credit risk, there remains a level of accounts receivable exposure. The extensive list of exhibits also points to various debt and financing agreements, which would carry their own associated risks and covenants.

What does it mean that Lam Research is an 'accelerated filer'?

Being an 'accelerated filer' means that Lam Research Corporation meets certain criteria set by the SEC, typically related to its public float (the market value of shares held by non-affiliates) and filing history. As of December 28, 2003, its public float was over $2.8 billion, clearly meeting this threshold. Accelerated filers are required to file their annual reports (10-K) and quarterly reports (10-Q) more quickly than non-accelerated filers, usually within 75 days for 10-Ks and 40 days for 10-Qs after the fiscal period ends. This indicates a certain level of financial maturity and compliance with SEC reporting standards.

LRCX 10-K FY2004 Annual Report — Revenue, Net Income, EPS

Summary

Lam Research Corporation's (LRCX) 2004 Form 10-K provides a snapshot of the company's financial health and operations for the fiscal year ended June 27, 2004. As an "accelerated filer," the company is in a strong position regarding regulatory compliance. The filing details the company's business, properties, legal proceedings, and market for its common stock. Investors can glean insights into the company's financial performance through the selected consolidated financial data and Management's Discussion and Analysis of Financial Condition and Results of Operations. Key financial aspects to note include the details on its allowance for doubtful accounts, which decreased in fiscal 2004 compared to the prior year, indicating improved collection or reduced risk. While the filing does not provide detailed income statements or balance sheets directly in the provided text, it refers to these comprehensive financial statements. The extensive exhibit index suggests numerous agreements and plans, including various stock option and incentive plans, license agreements, and financing arrangements, which are crucial for understanding the company's contractual obligations and strategic partnerships.

Key Highlights

1Lam Research Corporation is an "accelerated filer," indicating a certain level of financial maturity and consistent SEC reporting.

2The fiscal year ended on June 27, 2004, with the report filed on September 9, 2004.

3The company's common stock is registered under Section 12(g) of the Securities Exchange Act.

4The aggregate market value of the Registrant's Common Stock held by non-affiliates was substantial at $2.83 billion as of December 28, 2003.

5The allowance for doubtful accounts decreased to $3.865 million in fiscal year 2004 from $4.995 million in fiscal year 2003, suggesting potential improvements in credit risk management or customer payments.

6The filing incorporates by reference parts of the company's Proxy Statement for the Annual Meeting of Stockholders.

7A comprehensive list of exhibits is provided, detailing various corporate agreements, plans, and legal documents, including numerous stock and incentive plans, and significant licensing and financing agreements.

LAM RESEARCH CORP Annual Report, Year Ended Jun 27, 2004

Summary

Key Highlights

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