Applied Materials lifts Q3 FY 2013/14 net profit

Aug 18, 2014 - US company Applied Materials Inc (NASDAQ:AMAT) on Thursday said it had booked a net profit of USD 301 million (EUR 225m) in its third fiscal quarter through July 27, marking an increase from USD 168 million a year earlier.

The firm, which in June approved its planned merger with Japan’s Tokyo Electron Ltd (TYO:8035), offers equipment, services and software to producers of advanced semiconductor and flat panel display as well as solar photovoltaics (PVs). "We have focused our strategy and investments in areas that have the largest impact for customers while driving improvements in execution and speed across the company," said president and CEO Gary Dickerson. On a non-GAAP basis, the firm’s net profit was USD 349 million, or USD 0.28 per diluted share.

Applied Materials boosted its operating profit to USD 391 million from USD 250 million. GAAP and non-GAAP gross margins stood at 43.8% and 45.5%, respectively.

Revenues in the three months increased by 15% on the year to USD 2.27 billion and orders climbed by 24% to USD 2.48 billion. In the energy and environmental solutions (EES) division, sales rose to USD 103 million from USD 45 million, while orders increased to USD 66 million from USD 19 million.

Applied Materials guided for non-GAAP adjusted earnings per share of between USD 0.25 and 0.29 and sales about 10%-17% higher than the year-ago result.

(USD 1.0 = EUR 0.746)

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