Applied Materials Announces Solid First Quarter Results

 - Raises fiscal year net sales outlook to growth of more than 50%  - Orders up 33% quarter over quarter led by Silicon Systems Group order growth of 80% - Completes Semitool acquisition targeting growth in advanced semiconductor packaging Applied Materials, Inc., the global leader in Nanomanufacturing Technology(TM) solutions for the semiconductor, flat panel display and solar industries, today reported results for its first quarter of fiscal 2010 ended January 31, 2010.

Applied generated net sales of $1.85 billion, operating profit of $116 million, and net income of $83 million or $0.06 per share. Non-GAAP net income was $179 million or $0.13 per share.

"Applied posted solid first quarter results led by robust sales in our semiconductor equipment business," said Mike Splinter, chairman and CEO. "With global demand improving in our customers' end markets, we are raising our full-year revenue target to reflect higher anticipated demand in our semiconductor, LCD display and crystalline silicon solar businesses."

"During the quarter, we completed the acquisition of Semitool Inc., opening new growth opportunities in our core semiconductor equipment market, particularly in advanced packaging," Splinter added. "Applied enters its second quarter with considerable momentum, and we are off to an excellent start for the year."

Read the full story.

600450 Applied Materials Announces Solid First Quarter Results
Date: 25 February 2010
Source: Applied Materials, Inc.

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