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Applied Materials Posts Q4

SANTA CLARA, Calif. — Applied Materials, Inc. (NASDAQ:AMAT), the global leader in manufacturing solutions for the semiconductor, flat panel display and solar industries, today reported stronger than expected results for its fourth quarter of fiscal 2010 ended Oct. 31, 2010. Applied generated orders of $3.03 billion, net sales of $2.89 billion, operating profit of $699 million, and net income of $468 million or $0.35 per share. Non-GAAP net income was $476 million or $0.36 per share.

For fiscal year 2010, the company reported orders of $10.25 billion, net sales of $9.55 billion, operating profit of $1.38 billion, and net income of $938 million or $0.70 per share. Non-GAAP net income was $1.18 billion, or $0.88 per share. The fiscal year results included EES inventory-related charges of $330 million that lowered EPS by approximately $0.16. Excluding these charges, non-GAAP EPS would have been $1.03.

“Applied ended a very strong year by delivering results that exceeded our expectations in the fourth quarter,” said Mike Splinter, chairman and chief executive officer. “We are seeing strong momentum in our business as we enter 2011, fueled by accelerated innovation and market share gains.”

“In 2010, Applied generated $1.7 billion in cash from operations after investing more than $1.1 billion in research and development,” added George Davis, chief financial officer. “We also bought back $350 million in shares, increased our dividend by 17 percent, and ended the year with $3.9 billion in cash and investments.”

{complink 384|Applied Materials Inc.}

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