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Lam Research Reports Higher Quarterly Revenue

Lam Research on Wednesday posted a better-than-expected rise in it fiscal fourth quarter revenue, paced by market share gains.

Shares of the company fell more than 1 percent, however, after it said it had not yet completed its review of its past stock option grants, practices, and related accounting.

Lam said revenue climbed to $684.6 million. It reported revenue of $525.6 million in the year ago period, according to Reuters Research.

The company did not report net income or net income per share figures, because it is in the process of reviewing its historical stock option grant practices and its accounting.

Shares of the company fell 1.8 percent to $54 in extended trade. In regular trade, Lam shares rose $1.24, or 2.3 percent, to close at $55.01.

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