Applied Materials Delivers Solid Third Quarter Results
(Thomson Reuters ONE) -
* Results in line with business outlook in a challenging environment
* Net sales of $2.34 billion with non-GAAP EPS of 24 cents and GAAP EPS of 17
cents
* Operating cash flow exceeded $650 million or 28 percent of net sales
* Share repurchases increased 150% versus the prior quarter to $500 million
SANTA CLARA, Calif., August 15, 2012 - Applied Materials, Inc. (NASDAQ:AMAT),
the global leader in manufacturing solutions for the semiconductor, display and
solar industries, today reported results for its third quarter of fiscal 2012
ended July 29, 2012.
Applied generated orders of $1.80 billion and net sales of $2.34 billion. Non-
GAAP operating income was $431 million, and non-GAAP net income was $300 million
or 24 cents per share. GAAP operating income was $322 million, and GAAP net
income was $218 million or 17 cents per share.
"We delivered solid financial performance in line with our outlook despite
challenging industry conditions in semiconductor, display and solar," said Mike
Splinter, chairman and CEO. " Economic uncertainty is weighing on top of a
seasonal pullback to produce weaker near-term demand."
"Applied generated strong operating cash flow and ramped the return of cash to
shareholders, buying back 3.6 percent of shares outstanding in the quarter,"
said George Davis, executive vice president and CFO. "In a difficult
environment, we are controlling spending while ensuring we prioritize investment
in key areas to support future growth. "
Quarterly Results Summary
GAAP Results Q3 FY2012 Q2 FY2012 Q3 FY2011
-------------------------------- --------------- --------------- --------------
Net sales $2.34 billion $2.54 billion $2.79 billion
Operating income $322 million $409 million $687 million
Net income $218 million $289 million $476 million
Diluted earnings per share $0.17 $0.22 $0.36
(EPS)
Non-GAAP Results
--------------------------------
Non-GAAP operating income $431 million $490 million $683 million
Non-GAAP net income $300 million $349 million $467 million
Non-GAAP diluted EPS $0.24 $0.27 $0.35
Third quarter results included $44 million of restructuring and asset impairment
charges, consisting primarily of costs associated with the EES restructuring
plan announced on May 10, 2012. The plan also resulted in inventory-related
charges of approximately $13 million that lowered gross margin by approximately
half a percentage point and earnings per share by $0.01 on both a GAAP and non-
GAAP basis.
During the quarter, Varian generated orders of $241 million and net sales of
$294 million which were reported within the Silicon Systems Group (SSG) and
Applied Global Services (AGS) segments. The business contributed approximately
$0.04 to the company's non-GAAP EPS, which excluded acquisition-related charges
equivalent to approximately $0.03 per share.
Applied's non-GAAP results exclude the impact of the following, where
applicable: certain discrete tax items, restructuring and asset impairment
charges and any associated adjustments related to restructuring actions, certain
acquisition-related costs, investment impairments, and gain or loss on sale of
facilities. A reconciliation of the GAAP and non-GAAP results is provided in the
financial statements included in this release. See also "Use of Non-GAAP
Financial Measures" below.
Third Quarter Reportable Segment Results and Comparisons to the Second Quarter
Silicon Systems Group (SSG) orders were $1.17 billion, down 41 percent,
primarily due to lower demand from foundry and logic customers. Net sales were
$1.55 billion, down 13 percent. Non-GAAP operating income decreased to $482
million or 31.2 percent of net sales. GAAP operating income decreased to $427
million or 27.6 percent of net sales. New order composition was: foundry 58
percent, flash 19 percent, logic and other 13 percent, and DRAM 10 percent.
Applied Global Services (AGS) orders were $531 million, down 18 percent from the
prior quarter which benefited from a thin film production line order. Net sales
were $579 million, up 5 percent. Non-GAAP operating income increased to $135
million or 23.3 percent of net sales. GAAP operating income increased to $122
million or 21.1 percent of net sales.
Display orders were $67 million, down 20 percent. Net sales were $142 million,
up 6 percent. Non-GAAP operating income increased to $12 million or 8.5 percent
of net sales. GAAP operating income increased to $10 million or 7 percent of net
sales.
Energy and Environmental Solutions (EES) orders were $35 million, down 44
percent. Net sales were $77 million, down 3 percent. EES had a non-GAAP
operating loss of $64 million and a GAAP operating loss of $102 million.
Additional Quarterly Financial Information and Comparisons to the Second Quarter
* Backlog decreased by $551 million to $1.82 billion.
* Gross margin was 41.6 percent on a non-GAAP basis, down from 42.1 percent,
in line with the decrease in net sales. GAAP gross margin of 39.7 percent
was down slightly from 39.8 percent.
* The effective income tax rate was 27.0 percent on a non-GAAP basis and 27.8
percent on a GAAP basis.
* Cash, cash equivalents and investments were essentially flat at $3.2
billion.
Business Outlook
For the fourth quarter of fiscal 2012, Applied expects net sales to be 25
percent to 40 percent lower sequentially. The company expects non-GAAP EPS to be
in the range of $0.00 to $0.06. The non-GAAP EPS outlook excludes known charges
related to completed acquisitions of approximately $0.05 per share but does not
exclude other non-GAAP adjustments that may arise subsequent to this release.
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.
Webcast Information
Applied Materials will discuss these results during an earnings call that begins
at 1:30 p.m. Pacific Time today. A live webcast will be available at
www.appliedmaterials.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements
regarding Applied's performance, industry and economic outlooks, spending,
investment, growth strategies, and business outlooks for the fourth quarter of
fiscal 2012. Forward-looking statements may contain words such as "expect,"
"believe," "may," "can," "should," "will," "anticipate" or similar expressions,
and include the assumptions that underlie such statements. These statements are
subject to known and unknown risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by such statements,
including but not limited to: the level of demand for Applied's products, which
is subject to many factors, including uncertain global economic and industry
conditions, business and consumer spending, demand for electronic products and
semiconductors, government renewable energy policies and incentives, and
customers' utilization rates and new technology and capacity requirements;
variability of operating expenses and results among the company's segments
caused by differing conditions in the served markets; the concentrated nature of
Applied's customer base; Applied's ability to (i) develop, deliver and support a
broad range of products, expand its markets and develop new markets, (ii) timely
align its cost structure with business conditions and achieve targeted
efficiencies from cost-reduction activities, (iii) plan and manage its resources
and production capability, (iv) integrate Varian's operations, product lines,
technology and employees and realize synergies, (v) obtain and protect
intellectual property rights in key technologies, (vi) attract, motivate and
retain key employees, and (vii) accurately forecast future results, which
depends on multiple assumptions related to, without limitation, market
conditions, customer requirements and business needs; and other risks described
in Applied's SEC filings. All forward-looking statements are based on
management's estimates, projections and assumptions as of the date hereof. The
company undertakes no obligation to update any forward-looking statements.
About Applied Materials
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in providing
innovative equipment, services and software to enable the manufacture of
advanced semiconductor, flat panel display and solar photovoltaic products. Our
technologies help make innovations like smartphones, flat screen TVs and solar
panels more affordable and accessible to consumers and businesses around the
world. At Applied Materials, we turn today's innovations into the industries of
tomorrow. Learn more at www.appliedmaterials.com.
Contact:
Matt Ceniceros (editorial/media) 408.563.6874
Michael Sullivan (financial community) 408.986.7977
APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended Nine Months Ended
---------------------------------- ---------------------------
(In millions, July 29, April 29, July 31, July 29, July 31,
except per 2012 2012 2011 2012 2011
share amounts)
---------- ----------------------- ---------------------------
Net sales $ 2,343 $ 2,541 $ 2,787 $ 7,073 $ 8,336
Cost of 1,413 1,530 1,603 4,347 4,827
products sold
---------------------------------- ------------ --------------
Gross margin 930 1,011 1,184 2,726 3,509
Operating
expenses:
Research,
development 309 321 282 933 850
and
engineering
Selling,
general and 255 281 240 839 679
administrative
Restructuring
charges and 44 - 3 44 (30)
asset
impairments
Gain on
sale of - - (28 ) - (27)
facilities,
net
---------------------------------- ------------ --------------
Total
operating 608 602 497 1,816 1,472
expenses
Income from 322 409 687 910 2,037
operations
Impairment of
strategic - 3 - 3 -
investments
Interest and 24 23 25 72 35
other expenses
Interest and
other income, 4 4 7 13 33
net
---------------------------------- ------------ --------------
Income before 302 387 669 848 2,035
income taxes
Provision for 84 98 193 224 564
income taxes
---------------------------------- ------------ --------------
Net income $ 218 $ 289 $ 476 $ 624 $ 1,471
---------------------------------- ------------ --------------
Earnings per
share:
Basic $ 0.17 $ 0.22 $ 0.36 $ 0.49 $ 1.11
Diluted $ 0.17 $ 0.22 $ 0.36 $ 0.48 $ 1.10
Weighted
average number
of shares:
Basic 1,257 1,289 1,318 1,282 1,321
Diluted 1,268 1,301 1,330 1,292 1,333
APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
(In millions) July 29, October 30,
2012 2011
------------ ------------
ASSETS
Current assets:
Cash and cash equivalents $ 1,529 $ 5,960
Short-term investments 635 283
Accounts receivable, net 1,535 1,532
Inventories 1,380 1,701
Deferred income taxes, net 498 580
Other current assets 288 299
------------ ------------
Total current assets 5,865 10,355
Long-term investments 1,058 931
Property, plant and equipment, net 917 866
Goodwill 3,939 1,335
Purchased technology and other intangible assets, 1,410 211
net
Deferred income taxes and other assets 131 163
------------ ------------
Total assets $ 13,320 $ 13,861
------------ ------------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 1,410 $ 1,520
Customer deposits and deferred revenue 937 1,116
Income taxes payable 61 158
------------ ------------
Total current liabilities 2,408 2,794
Long-term debt 1,946 1,947
Deferred income taxes and income taxes payable 386 104
Employee benefits and other liabilities 241 216
------------ ------------
Total liabilities 4,981 5,061
------------ ------------
Total stockholders' equity 8,339 8,800
------------ ------------
Total liabilities and stockholders' equity $ 13,320 $ 13,861
------------ ------------
APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
Three Months Ended Nine Months Ended
----------------------- ----------------------
July 29, July 31, July 29, July 31,
(In millions) 2012 2011 2012 2011
----------- ----------- ----------- ----------
Cash flows from operating
activities:
Net income $ 218 $ 476 $ 624 $ 1,471
Adjustments required to
reconcile net income to cash
provided by operating
activities:
Depreciation and
amortization 105 59 325 187
Net loss (gain)
on dispositions and fixed asset
retirements 8 (24 ) 11 (24 )
Provision for bad
debts - - 9 -
Restructuring
charges and asset impairments 44 3 44 (30 )
Deferred income
taxes 77 (83 ) 105 (100 )
Net loss on
investments and amortization on
debt securities 6 8 16 13
Impairment of
strategic investments - - 3 -
Share-based
compensation 42 38 138 110
Net change in
operating assets and
liabilities, net of amounts
acquired 156 123 165 101
----------- ----------- ----------- ----------
Cash provided by operating 656 600
activities 1,440 1,728
----------- ----------- ----------- ----------
Cash flows from investing
activities:
Capital expenditures (45 ) (55 ) (121 ) (136 )
Cash paid for
acquisition, net of cash
acquired (3 ) - (4,189 ) -
Proceeds from sale of
facilities and dispositions, net
of cash sold - 87 - 126
Proceeds from sales and
maturities of investments 205 268 765 1,173
Purchases of
investments (438 ) (48 ) (1,152 ) (945 )
----------- ----------- ----------- ----------
Cash provided by (used in) (281 ) 252
investing activities (4,697 ) 218
----------- ----------- ----------- ----------
Cash flows from financing
activities:
Debt borrowings
(repayments), net (1 ) 1,744 (1 ) 1,744
Payments of debt
issuance costs - (14 ) - (14 )
Proceeds from common
stock issuances 7 5 52 64
Common stock repurchases (500 ) (25 ) (900 ) (293 )
Payments of dividends to
stockholders (115 ) (105 ) (323 ) (291 )
----------- ----------- ----------- ----------
Cash provided by (used in) (609 ) 1,605
financing activities (1,172 ) 1,210
----------- ----------- ----------- ----------
Effect of exchange rate changes
on cash and cash equivalents 2 3 (2 ) 4
----------- ----------- ----------- ----------
Increase (decrease) in cash and (232 ) 2,460
cash equivalents (4,431 ) 3,160
Cash and cash equivalents -
beginning of period 1,761 2,558 5,960 1,858
----------- ----------- ----------- ----------
Cash and cash equivalents - end $ 1,529 $ 5,018
of period $ 1,529 $ 5,018
----------- ----------- ----------- ----------
Supplemental cash flow
information:
Cash payments for
income taxes $ 54 $ 105 $ 233 $ 661
Cash refunds from
income taxes $ 1 $ 2 $ 5 $ 4
Cash payments for
interest $ 39 $ - $ 87 $ 7
APPLIED MATERIALS, INC.
UNAUDITED SUPPLEMENTAL INFORMATION
Reportable Segment Results
Q3 FY2012 Q2 FY2012 Q3 FY2011
------------------------------------------------------------------------
(In New Net Operating New Net Operating New Net Operating
millions) Orders Sales Income Orders Sales Income Orders Sales Income
(Loss) (Loss) (Loss)
------------------------------------------------------------------------
SSG $1,166 $1,545 $427 $1,969 $1,777 $504 $1,239 $1,398 $452
AGS 531 579 122 650 551 109 613 603 146
Display 67 142 10 84 134 7 220 223 58
EES 35 77 (102) 62 79 (63) 318 563 123
Corporate - - (135) - - (148) - - (92)
------------------------------------------------------------------------
Consolidated $1,799 $2,343 $322 $2,765 $2,541 $409 $2,390 $2,787 $687
------------------------------------------------------------------------
Corporate Unallocated Expenses
(In millions) Q3 Q2 Q3
FY2012 FY2012 FY2011
--------- --------- -------
Share-based compensation 42 43 38
Gain on sale of facilities - - (28 )
Other unallocated expenses 93 105 82
--------- --------- -------
Corporate $ 135 $ 148 $ 92
--------- --------- -------
APPLIED MATERIALS, INC.
UNAUDITED SUPPLEMENTAL INFORMATION
Additional Information
Q3 FY2012 Q2 FY2012 Q3 FY2011
---------------- ---------------- ---------------
New Orders and Net Sales by
Geography
(In $ millions) New Net New Net New Net
Orders Sales Orders Sales Orders Sales
-------- ------- -------- ------- -------- ------
North America 420 441 673 518 356 451
% of Total 23 % 19 % 24 % 20 % 15 % 16 %
Europe 172 184 271 229 254 259
% of Total 9 % 8 % 10 % 9 % 11 % 9 %
Japan 128 189 121 169 372 284
% of Total 7 % 8 % 4 % 7 % 15 % 10 %
Korea 299 392 704 750 362 432
% of Total 17 % 17 % 26 % 30 % 15 % 16 %
Taiwan 588 811 810 654 425 454
% of Total 33 % 34 % 29 % 26 % 18 % 16 %
Southeast Asia 91 72 68 64 87 156
% of Total 5 % 3 % 3 % 2 % 4 % 6 %
China 101 254 118 157 534 751
% of Total 6 % 11 % 4 % 6 % 22 % 27 %
Employees (In thousands)
Regular Full Time 14.6 14.6 12.7
APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
Three Months Ended Nine Months Ended
---------------------------------- ----------------------
(In millions,
except per share
amounts and July 29, April 29, July 31, July 29, July 31,
percentages) 2012 2012 2011 2012 2011
---------- ----------- ----------- ----------- ----------
Non-GAAP Gross
Margin
Reported gross 930 $ 1,011 1,184 2,726 3,509
margin (GAAP basis)
Certain items
associated with 44 59 9 209 27
acquisitions(1)
---------- ----------- ----------- ----------- ----------
Non-GAAP gross $ 974 $ 1,070 $ 1,193 $ 2,935 $ 3,536
margin
---------- ----------- ----------- ----------- ----------
Non-GAAP gross
margin percent (% 41.6 % 42.1 % 42.8 % 41.5 % 42.4
of net sales) %
Non-GAAP Operating
Income
Reported operating $ 322 $ 409 $ 687 $ 910 $ 2,037
income (GAAP basis)
Certain items
associated with 57 71 12 242 37
acquisitions(1)
Varian integration 8 10 9 70 9
and deal costs
Restructuring
charges and asset 44 - 3 44 (30)
impairments(2,
3, 4)
Gain on sale of - - (28 ) - (27)
facilities, net
---------- ----------- ----------- ----------- ----------
Non-GAAP operating $ 431 $ 490 $ 683 $ 1,266 $ 2,026
income
---------- ----------- ----------- ----------- ----------
Non-GAAP operating
margin percent (% 18.4 % 19.3 % 24.5 % 17.9 % 24.3
of net sales) %
Non-GAAP Net Income
Reported net income $ 218 $ 289 $ 476 $ 624 $ 1,471
(GAAP basis)
Certain items
associated with 57 71 12 242 37
acquisitions(1)
Varian integration 8 10 9 70 9
and deal costs
Restructuring
charges and asset 44 - 3 44 (30
impairments(2,
3, 4) )
Impairment of
strategic - 3 - 3 -
investments
Gain on sale of - - (28 ) - (27
facilities, net )
Reinstatement of
federal R&D tax - - - - (13
credit )
Resolution of
audits of prior (10 ) (7 ) - (17 ) -
years' income tax
filings
Income tax effect
of non-GAAP (17 ) (17 ) (5 ) (77 ) 5
adjustments
---------- ----------- ----------- ----------- ----------
Non-GAAP net income $ 300 $ 349 $ 467 $ 889 $ 1,452
---------- ----------- ----------- ----------- ----------
Non-GAAP Earnings
Per Diluted Share
Reported earnings
per diluted share $ 0.17 $ 0.22 $ 0.36 $ 0.48 $ 1.10
(GAAP basis)
Certain items
associated with 0.04 0.05 0.01 0.15 0.02
acquisitions
Varian integration 0.01 - - 0.04 0.01
and deal costs
Restructuring
charges and asset 0.03 - - 0.03 (0.01
impairments )
Gain on sale of - - (0.02 ) - (0.02
facilities, net )
Reinstatement of
federal R&D tax
credit and
resolution of (0.01 ) - - (0.01 ) (0.01)
audits of prior
years' income tax
filings
---------- ----------- ----------- ----------- ----------
Non-GAAP earnings $ 0.24 $ 0.27 $ 0.35 $ 0.69 $ 1.09
per diluted share
---------- ----------- ----------- ----------- ----------
Weighted average
number of diluted 1,268 1,301 1,330 1,292 1,333
shares
1 These items are incremental charges attributable to acquisitions,
consisting of inventory fair value adjustments on products sold, and
amortization of purchased intangible assets.
2 Results for the three and nine months ended July 29, 2012 included
severance and other charges of $24 million and asset impairment charges of
$11 million related to the restructuring program announced on May 10, 2012
and severance charges of $9 million related to Varian integration.
3 Results for the three months ended July 31, 2011 included asset impairment
charges of $3 million related to certain fixed assets.
4 Results for the nine months ended July 31, 2011 included favorable
adjustments of $36 million related to a restructuring program announced on
July 21, 2010, $19 million related to a restructuring program announced on
November 11, 2009, and $5 million related to a restructuring program
announced on November 12, 2008, partially offset by asset impairment
charges of $30 million primarily related to certain fixed and intangible
assets.
APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
Three Months Ended Nine Months Ended
---------------------------------- -----------------------
(In millions, July 29, April 29, July 31, July 29, July 31,
except 2012 2012 2011 2012 2011
percentages)
----------- ----------- ---------- ------------ ----------
Non-GAAP SSG
Operating Income
Reported operating
income (GAAP $ 427 $ 504 $ 452 $ 1,202 $ 1,486
basis)
Certain items
associated with 47 61 3 208 8
acquisitions(1)
Varian integration 7 9 - 31 -
costs
Restructuring
charges and asset 1 - - 1 -
impairments(2)
----------- ----------- ---------- ------------ ----------
Non-GAAP operating $ 482 $ 574 $ 455 $ 1,442 $ 1,494
income
----------- ----------- ---------- ------------ ----------
Non-GAAP operating
margin percent (% 31.2 % 32.3 % 32.5 % 30.9 % 34.4%
of net sales)
Non-GAAP AGS
Operating Income
Reported operating
income (GAAP $ 122 $ 109 $ 146 $ 338 $ 322
basis)
Certain items
associated with 2 2 1 10 5
acquisitions(1)
Restructuring
charges and asset 11 - - 11 24
impairments(2,
3, 4)
----------- ----------- ---------- ------------ ----------
Non-GAAP operating $ 135 $ 111 $ 147 $ 359 $ 351
income
----------- ----------- ---------- ------------ ----------
Non-GAAP operating
margin percent (% 23.3 % 20.1 % 24.4 % 21.6 % 19.7%
of net sales)
Non-GAAP Display
Operating Income
Reported operating
income (GAAP $ 10 $ 7 $ 58 $ 23 $ 116
basis)
Certain items
associated with 2 2 2 6 6
acquisitions(1)
----------- ----------- ---------- ------------ ----------
Non-GAAP operating $ 12 $ 9 $ 60 $ 29 $ 122
income
----------- ----------- ---------- ------------ ----------
Non-GAAP operating
margin percent (% 8.5 % 6.7 % 26.9 % 7.6 % 23.1%
of net sales)
Non-GAAP EES
Operating Income
(Loss)
Reported operating
income (loss) $ (102 ) $ (63 ) $ 123 $ (188 ) $ 436
(GAAP basis)
Certain items
associated with 6 6 6 18 18
acquisitions(1)
Restructuring
charges and asset 32 - 3 32 (33
impairments(2,
3, 4) )
----------- ----------- ---------- ------------ ----------
Non-GAAP operating $ (64 ) $ (57 ) $ 132 $ (138 ) $ 421
income (loss)
----------- ----------- ---------- ------------ ----------
Non-GAAP operating
margin percent (% (83.1 )% (72.2 )% 23.4 % (38.0 )% 25.1%
of net sales)
1 These items are incremental charges attributable to acquisitions,
consisting of inventory fair value adjustments on products sold, and
amortization of purchased intangible assets.
2 Results for the three and nine months ended July 29, 2012 included
severance and other charges of $24 million and asset impairment charges of
$11 million related to the restructuring program announced on May 10, 2012
and severance charges of $9 million related to Varian integration.
3 Results for the three months ended July 31, 2011 included asset impairment
charges of $3 million related to certain fixed assets.
4 Results for the nine months ended July 31, 2011 included favorable
adjustments of $36 million related to a restructuring program announced on
July 21, 2010, partially offset by asset impairment charges of $27 million
related to certain intangible assets and fixed assets.
APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE
Three Months
Ended
(In millions, except percentages) July 29, 2012
---------------
Provision for income taxes (GAAP basis) (a) $ 84
Income tax effect of non-GAAP adjustments 17
Resolutions from audits of prior years' income tax filings 10
---------------
Non-GAAP provision for income taxes (b) $ 111
---------------
Income before income taxes (GAAP basis) (c) $ 302
Certain items associated with acquisitions 57
Varian integration and deal costs 8
Restructuring charges and asset impairments 44
---------------
Non-GAAP income before income taxes (d) $ 411
---------------
Effective income tax rate (GAAP basis) (a/c) 27.8 %
---------------
Non-GAAP effective income tax rate (b/d) 27.0 %
---------------
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Applied Materials via Thomson Reuters ONE
[HUG#1633931]
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2012 - 22:03 Uhr
Sprache: Deutsch
News-ID 175155
Anzahl Zeichen: 41564
contact information:
Town:
Santa Clara
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 152 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Applied Materials Delivers Solid Third Quarter Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Applied Materials (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
