Although forward guidance was a bit light these results are excellent.
Bottom line margin and net profit are strong.
This stock trading in the mid teens is just nuts - hope to buy some in the low teens again!
Q3 orders of $2.89 billion up 17% year over year, with record Silicon Systems ordersQ3 net sales of $2.49 billion up 10% year over year led by growth in Silicon Systems and ServicesQ3 non-GAAP adjusted EPS of $0.33 up 18% year over year; GAAP EPS of $0.27 up 13% year over yearSANTA CLARA, Calif., Aug. 13, 2015 - Applied Materials, Inc. ( AMAT), the global leader in materials engineering solutions for the semiconductor, display and solar industries, today reported results for its third quarter ended July 26, 2015.
Third quarter orders were $2.89 billion, up 15 percent sequentially and up 17 percent year over year. Net sales were $2.49 billion, up 2 percent sequentially and up 10 percent year over year.
On a non-GAAP adjusted basis, the company reported gross margin of 43.9 percent, operating margin of 20.8 percent, and net income of $410 million or $0.33 per diluted share. The company recorded GAAP gross margin of 40.9 percent, operating margin of 15.9 percent, and net income of $329 million or $0.27 per diluted share. The GAAP results included the effect of cost reduction actions in the solar business consisting of $34 million of inventory charges and $17 million of restructuring and asset impairment charges.
The company generated $334 million in cash from operations, paid dividends of $123 million and used $625 million to repurchase 32 million shares of common stock.
Gaap gross margin over 40 and operating margin over 15 - printing money and buying back 32 million shares = solid in my world !
Bob |
