Applied Materials' profit halves in Q3 FY 2011/12

Aug 16, 2012 - US photovoltaics (PV) and semiconductor manufacturing equipment provider Applied Materials Inc (NASDAQ:AMAT) saw its net profit halve to USD 218 million (EUR 177.7m) in its third fiscal quarter to July 29 from USD 476 million a year ago.

On Wednesday the company reported diluted earnings per share (EPS) of USD 0.17, compared with USD 0.36 in the same period of fiscal 2010/11.

Non-GAAP net profit stood at USD 300 million, or USD 0.24 per diluted share, falling from USD 467 million, or USD 0.35 per share. The non-GAAP results exclude effects such as certain discrete tax items, restructuring and asset impairment charges, acquisition-related expenses, investment impairments, etc.

Operating profit for the quarter dropped to USD 322 million from USD 687 million.

Revenue amounted to USD 2.34 billion, compared with USD 2.79 billion. It included USD 77 million in revenues from the energy and environmental solutions segment, down 3% year-on-year.

New orders for the three months through July went down to USD 1.80 billion from USD 2.39 billion.

Applied Materials guided for fiscal fourth-quarter non-GAAP EPS of USD 0.00-0.06 and said it expected a 25% to 40% quarter-on-quarter decline in net sales.

(USD 1 = EUR 0.815)

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