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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): November 12, 1998
LAM RESEARCH CORPORATION
(Exact name of registrant as specified in its charter)
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DELAWARE 000-12933 94-2634797
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(State or Other Jurisdiction of (Commission File Number) (IRS Employer Identification No.)
Incorporation)
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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.)
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ITEM 5. OTHER EVENTS
On November 12, 1998, Lam Research Corporation (the "Company")
announced a reduction in its workforce and that it will record a restructuring
charge against financial results for the quarter ending December 31, 1998.
Attached hereto as Exhibit 99.1 is the Company's press release, dated November
12, 1998.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
99.1 Lam Research Corporation Press Release, dated November 12,
1998.
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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: November 13, 1998 LAM RESEARCH CORPORATION
By: /s/ Richard H. Lovgren
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Name: Richard H. Lovgren
Title: Vice President, Secretary
and General Counsel
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EXHIBIT INDEX
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Exhibit No. Description
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99.1 Lam Research Corporation Press Release dated
November 12, 1998.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contacts: Lisa Garber Kathleen Bela
Corporate Communications Investor Relations
Lam Research Corporation Lam Research Corporation
Phone: 510/572-4538 Phone: 510/572-4566
Fax: 510/572-2935 Fax: 510/572-6454
e-mail: [email protected] e-mail: [email protected]
LAM RESEARCH CORPORATION ANNOUNCES REDUCTION IN WORK FORCE
FREMONT, Calif., November 12, 1998--Lam Research Corporation (Nasdaq: LRCX), a
leading supplier of wafer fabrication equipment to the worldwide semiconductor
industry, today announced that it has reduced its work force by approximately
500 employees. These reductions, which primarily affect manufacturing and
corporate support activities, are part of the company's previously disclosed
plans to evaluate its cost structure and employment levels. The company will
record a restructuring charge against financial results for the quarter ending
December 31, 1998.
"We will continue to preserve key research and development programs, customer
support activities and fund our strategic priorities in order to take advantage
of market opportunities," stated James W. Bagley, Lam's chairman and chief
executive officer.
"Safe Harbor" Statement under the private Securities Litigation Act of 1995:
Except for historical information, 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, 1998 and the Form
10-Q for the quarter ended September 30, 1998. The company assumes no obligation
to update the information in this release.
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."
