Applied Materials' Q3 profit down 65%
Silicon Valley / San Jose Business Journal
Applied Materials Inc. on Tuesday reported third quarter net income of $165 million, or 12 cents a share, down from $474 million, or 34 cents a share in the same period last year.
Santa Clara-based Applied (NASDAQ:AMAT) had $1.85 billion in revenue, down 28 percent from $2.56 billion for the third quarter of fiscal 2007.
New orders of $2.03 billion for the third quarter decreased11 percent from $2.28 billion for the year-ago quarter.
“Applied Materials delivered financial and operational performance that was in line with our quarter forecast during a difficult semiconductor industry environment,” said CEO Mike Splinter. “While our silicon business was down, revenues increased in our display, service and solar businesses. We made significant progress in our solar division during the quarter, substantially increasing the number of crystalline silicon systems shipped and enabling start-up production on the first four SunFab Thin Film lines at customer sites. We are focused on operational execution, and we are taking advantage of opportunities to expand our leadership with next-generation innovations in silicon, display and solar.”
Excluding items, the company's income would have been $228 million, or 17 cents a share, compared to non-GAAP net income of $518 million, or 37 cents a share for the same quarter last year.
Analysts expected, on average, earnings of 14 cents a share on revenue of $1.83 billion.
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