AMAT 2nd quarter results.
<< May 18, 2004 04:01 PM US Eastern Timezone
Applied Materials Announces Results for Second Fiscal Quarter 2004; New Orders Increase to $2.21 Billion; Net Sales Increase to $2.02 Billion
SANTA CLARA, Calif.--(BUSINESS WIRE)--May 18, 2004--Applied Materials, Inc. (Nasdaq:AMAT), the world's largest supplier of wafer fabrication solutions to the semiconductor industry, reported results for its second fiscal quarter ended May 2, 2004. Net sales were $2.02 billion, up 30 percent from $1.56 billion for the first fiscal quarter of 2004, and up 82 percent from $1.11 billion for the second fiscal quarter of 2003. Gross margin for the second fiscal quarter of 2004 was 46.5 percent, up from 43.5 percent for the first fiscal quarter of 2004 and up from 33.7 percent for the second fiscal quarter of 2003. Net income for the second fiscal quarter of 2004 was $373 million, or $0.22 per share, up from net income of $82 million, or $0.05 per share, for the first fiscal quarter of 2004, and up from a net loss of $62 million, or $0.04 per share, for the second fiscal quarter of 2003.
The company's ongoing net income was $373 million, or $0.22 per share, for the second fiscal quarter of 2004, up from $200 million, or $0.12 per share, for the first fiscal quarter of 2004, and up from $45 million, or $0.03 per share, for the second fiscal quarter of 2003. Ongoing results for the second fiscal quarter of 2004 were the same as reported net income since there were no special items.
New orders of $2.21 billion for the second fiscal quarter of 2004 increased 32 percent from $1.68 billion for the first fiscal quarter of 2004, and increased 128 percent from $971 million for the second fiscal quarter of 2003. Regional distribution of new orders for the second fiscal quarter of 2004 was: Southeast Asia and China 22 percent, Taiwan 21 percent, North America 19 percent, Japan 17 percent, Korea 13 percent, and Europe 8 percent. Backlog at the end of the second fiscal quarter of 2004 was $2.80 billion, compared to $2.63 billion at the end of the first fiscal quarter of 2004.
"Investment in 300mm semiconductor equipment for leading-edge technology, combined with capacity purchases of our 200mm systems, drove Applied Materials' strong revenue and order growth this quarter. As semiconductor demand rose and our customers' confidence grew, orders for 300mm equipment, copper interconnect and sub-100 nanometer geometries increased," said Mike Splinter, president and chief executive officer. "Applied Materials continues to experience strong market acceptance across its broad array of products and is converting its leadership into outstanding operating performance.
"Through close collaboration with customers, Applied Materials continues to develop highly differentiated and integrated products that address advanced design requirements. New products, such as the Applied Endura2 system, the Applied VeritySEM metrology tool, the AKT-40K PECVD system, and the recently announced strategic service agreement with Brooks Automation, Inc., exemplify the company's dedication to delivering innovative solutions. Our focus is to achieve world class performance in everything we do, from product design through manufacturing to customer support," concluded Splinter.>> |
