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Applied Materials Reports Results for Third Quarter of Fiscal 2009

By admin - Posted on August 12th, 2009
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SANTA CLARA, CA, August 11, 2009 -- Applied Materials, Inc. (Nasdaq:AMAT) today reported results for its third fiscal quarter ended July 26, 2009. Net sales were $1.13 billion, and the GAAP net loss was $55 million, or $0.04 per share. The company also reported a non-GAAP net loss for the period of $2 million, or breakeven per share.

“In a difficult environment, Applied improved its operating performance and generated significant cash flow while making substantial investments in new technologies for next-generation semiconductor chips, flat panel displays and solar panels,” said Mike Splinter, chairman and CEO.

The non-GAAP results exclude the impact of any of the following for a particular quarter: investment impairments, equity-based compensation, restructuring and asset impairments, acquisition-related costs, ceasing implant development, and amounts associated with the resolution of income tax audits. A reconciliation of the GAAP and non-GAAP results is provided in the financial statements included in this release.

GAAP Results

    Q3 FY ‘09   Q2 FY ‘09   Q3 FY ‘08
Net sales $1.13 billion $1.02 billion $1.85 billion
Net income (loss) ($55 million) ($255 million) $165 million
Earnings (loss) per share ($0.04) ($0.19) $0.12
 

Non-GAAP Results

    Q3 FY ‘09   Q2 FY ‘09   Q3 FY ‘08
Non-GAAP net income (loss) ($2 million) ($136 million) $228 million
Non-GAAP earnings (loss) per share ($0.00) ($0.10) $0.17
 

Order and Backlog Summary

New orders for the quarter totaled $1.07 billion. Regional distribution was: Southeast Asia and China 25 percent, Taiwan 24 percent, Japan 14 percent, North America 14 percent, Europe 12 percent, and Korea 11 percent. Within the Silicon Systems Group (SSG), new order composition was: foundry 42 percent, DRAM 25 percent, logic and other 18 percent, and flash 15 percent. Backlog for the company as of the end of the quarter was $2.95 billion, down from $3.16 billion in the previous quarter.

Reportable Segment Results

    Q3 FY ‘09   Q2 FY ‘09   Q3 FY ‘08
(In millions)

New
Orders

 

Net
Sales

 

Operating
Income
(Loss)

New
Orders

 

Net
Sales

 

Operating
Income
(Loss)

New
Orders

 

Net
Sales

 

Operating
Income
(Loss)

SSG $542 $498 $56 $259 $260 ($96) $793 $756 $172

Applied Global Services

$298 $343

$24

$236 $319 ($1) $541 $607 $145
Display $96 $69 ($5) $13 $84 $1 $374 $311 $103

Energy and Environmental Solutions

$136 $224 ($53) $141 $357 ($93) $322 $174 ($85)
 

Use of Non-GAAP Financial Measures

Management uses non-GAAP results to evaluate the company’s operating and financial performance in light of business objectives and for planning purposes. These measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Applied believes these measures enhance investors’ ability to review the company’s business from the same perspective as the company’s management and facilitate comparisons of this period’s results with prior periods. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP.

Source: Applied Materials, Inc. (BUSINESS WIRE)

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