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February 16, 2010

Applied Materials Q1 net sales up 39% to $1.85bn

Expects net sales to increase by more than 50% for fiscal 2010

By CBR Staff Writer

Applied Materials has reported total revenue of $1.85bn for the first quarter of fiscal 2010, an increase of 39% compared to $1.33bn for the same period last year.

The company posted an operating profit of $116m during the quarter. Net income was $83m or $0.06 per share, compared to a loss of $133m of the same period last year.

The Silicon Systems Group had new orders of $1.13bn, net sales of $970m and operating income of $306m. New order composition of the group was, foundry 42%, DRAM 36%, flash 13%, and logic and other 9%.

The Applied Global Services had new orders of $474m, net sales of $426m and operating income of $63m, while the Display group and Energy and Environmental Solutions group had new orders of $126m and $230m, respectively.

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Mike Splinter, chairman and CEO of Applied Materials, said: “During the quarter, we completed the acquisition of Semitool Inc., opening new growth opportunities in our core semiconductor equipment market, particularly in advanced packaging. Applied enters its second quarter with considerable momentum, and we are off to an excellent start for the year.”

For the second quarter of fiscal 2010, Applied expects quarter over quarter net sales growth of between 15% and 25%. For fiscal 2010, it expects net sales to grow by more than 50%, an increase from its previous outlook of 30%.

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