APPLIED MATERIALS ANNOUNCES AGREEMENT WITH SAMSUNG ELECTRONICS
(Thomson Reuters ONE) -
SANTA CLARA, Calif., Nov. 29, 2010 -- Applied Materials, Inc. (NASDAQ: AMAT)
announced today that it has entered into a settlement agreement (the
"Agreement") with Samsung Electronics Co., Ltd. ("Samsung"). The Agreement
resolves potential civil claims and removes the risk of civil litigation between
the parties relating to the alleged acquisition, misappropriation and misuse of
Samsung confidential semiconductor information in Korea. It also establishes a
broad framework of incentives to Samsung for the future relationship between the
two companies.
"We are pleased that we have reached this agreement with one of our largest and
most important customers," said Mike Splinter, chairman and chief executive
officer. "I am confident that this agreement will extend the mutually-
beneficial and long-term relationship between our two companies."
Under the Agreement, which is generally effective for a three-year period
starting November 1, 2010, Applied will provide volume-based rebates on
purchases of semiconductor products by Samsung and its affiliated companies.
Applied also will provide volume-based incentives related to Samsung's use of
Applied systems (i) for production of semiconductor devices in applications for
which Samsung has not previously used Applied systems, and (ii) for joint
development activities. In addition, the agreement includes volume-based
credits for certain upgrades, engineering services and spare parts. The
financial impact of the above rebates and incentives on Applied's consolidated
results of operations and financial position will depend on the volume of
purchases by Samsung after the effective date of the Agreement. In fiscal
2009, Samsung accounted for approximately 10% of Applied's consolidated net
sales. Applied currently expects that operating margins for its Silicon Systems
Group will be consistent with its previously-released segment financial model,
with downside risk of no more than one percentage point below the low end of the
range. A copy of the model is available on Applied's website
atwww.appliedmaterials.com or by clicking the following link
http://www.appliedmaterials.com/sites/default/files/SSG_Model_2010.pdf.
The settlement terms of the Agreement pertain to potential civil claims between
the parties and are separate from and do not affect criminal proceedings against
individual defendants, including the current proceedings pending against
employees of several companies (including certain current and former Applied
Materials Korea employees) in the Seoul Eastern District Court of the Republic
of Korea. Neither Applied nor any of its subsidiaries is a defendant in these
proceedings.
Safe Harbor Statement
This release contains forward-looking statements, including those relating to
future business activities and the financial impact of the agreement. 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, without limitation: the volume of Samsung's
purchases of Applied semiconductor products; Applied's ability to accurately
forecast the financial impact of the agreement, including with respect to the
segment financial model, which depends on multiple factors; and other risks
described in Applied's SEC filings, including its most recent Form 10-Q. All
forward-looking statements are based on management's estimates, projections and
assumptions as of November 29, 2010, and Applied undertakes no obligation to
update any such 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 atwww.appliedmaterials.com.
Contact:
Howard Clabo (editorial/media) 408.223.5864
Michael Sullivan (financial community) 408.986.7977
[HUG#1466813]
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other applicable laws; and
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originality of the information contained therein.
Source: Applied Materials via Thomson Reuters ONE
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Datum: 30.11.2010 - 04:17 Uhr
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