Lam Research (Nasdaq: LRCX) reported earnings on July 31. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q4), Lam Research met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Gross margins grew, operating margins shrank, net margins grew.

Revenue details
Lam Research reported revenue of $986.2 million. The 14 analysts polled by S&P Capital IQ expected a top line of $981.9 million on the same basis. GAAP reported sales were 33% higher than the prior-year quarter's $741.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
EPS came in at $0.80. The 17 earnings estimates compiled by S&P Capital IQ anticipated $0.71 per share. Non-GAAP EPS of $0.80 for Q4 were 33% higher than the prior-year quarter's $0.60 per share. GAAP EPS of $0.50 for Q4 were 285% higher than the prior-year quarter's $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
For the quarter, gross margin was 42.0%, 180 basis points better than the prior-year quarter. Operating margin was 8.9%, 160 basis points worse than the prior-year quarter. Net margin was 8.7%, 630 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $1.04 billion. On the bottom line, the average EPS estimate is $0.82.

Next year's average estimate for revenue is $4.36 billion. The average EPS estimate is $3.85.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 340 members out of 367 rating the stock outperform, and 27 members rating it underperform. Among 118 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 111 give Lam Research a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lam Research is outperform, with an average price target of $53.71.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.