NEW YORK (Standard&Poor's CreditWire) Oct. 27, 1999—-Standard&Poor's today revised its outlook on Lam Reserach Corp. to stable from negative. The ratings for Lam Research reflect the company's good position in certain niche semiconductor processing markets and good liquidity, offset by aggressive competitive conditions. The revised outlook recognizes substantial sales recovery and improved profitability as its served market emerges from a three-year recession. Fremont, Calif.-based Lam Research manufactures equipment to deposit, etch, and polish microscopically thin layers on the surface of silicon wafers, as part of the semiconductor manufacturing process. Lam Research's revenues have recovered well in the last several quarters as the company refreshed its product line and customers have refitted their factories for advanced chips.
