Headline: Applied Materials Announces Record Results for Second Fiscal Quarter 2000; Record New Orders, Net Sales and Net Income
================================================================
SANTA CLARA, Calif.--(BUSINESS WIRE)--May 10, 2000--Applied
Materials, Inc., the world's largest supplier of wafer fabrication
solutions to the semiconductor industry, reported record results for
its second fiscal quarter ended April 30, 2000. Record net income,
excluding one-time items and the acquisition of Etec Systems, Inc.
(Etec), for the second fiscal quarter of 2000 was $454 million, or
$0.55 per diluted share, up from $328 million, or $0.40 per diluted
share, for the first fiscal quarter of 2000, and up significantly from
$140 million, or $0.18 per diluted share, for the second fiscal
quarter of 1999.
Record net sales were $2.19 billion, up 27 percent from $1.72
billion for the first fiscal quarter of 2000, and up 87 percent from
$1.17 billion for the second fiscal quarter of 1999. Record ongoing
net income (net income, excluding one-time items) for the second
fiscal quarter of 2000 was $459 million, or $0.53 per diluted share,
up from $327 million, or $0.39 per diluted share, for the first fiscal
quarter of 2000, and up significantly from $142 million, or $0.17 per
diluted share, for the second fiscal quarter of 1999. Reported results
for all periods presented reflect the acquisition of Etec, which was
completed during the quarter and accounted for as a
pooling-of-interests.
Record new orders of $2.93 billion for the second fiscal quarter
of 2000 increased 19 percent from $2.45 billion for the first fiscal
quarter of 2000, and increased 101 percent from $1.46 billion for the
second fiscal quarter of 1999. Regional distribution of new orders for
the second fiscal quarter of 2000 was: Taiwan 25 percent, North
America 25 percent, Japan 15 percent, Europe 14 percent, Southeast
Asia and China 11 percent and Korea 10 percent. Record backlog at the
end of the second fiscal quarter of 2000 was $3.18 billion, compared
to $2.46 billion at the end of the first fiscal quarter of 2000.
Gross margin for the second fiscal quarter of 2000 was 50.1
percent, up from 49.8 percent for the first fiscal quarter of 2000,
and up from 46.3 percent for the second fiscal quarter of 1999. Record
ongoing net income as a percentage of net sales was 21.0 percent for
the second fiscal quarter of 2000, compared to 19.0 percent for the
first fiscal quarter of 2000 and 12.1 percent for the second fiscal
quarter of 1999.
"We are very pleased to report another record quarter resulting
from increased customer demand and improved operating leverage. Global
semiconductor use continues to expand, driven by communications,
server-related and consumer products," said James C. Morgan, chairman
and chief executive officer.
Feature-rich, digital telecommunications and consumer applications
for semiconductors are growing faster than expected. This demand for
advanced devices has resulted in increased capital spending by
semiconductor manufacturers. Applied Materials' new orders for the
second fiscal quarter of 2000 reflect customers' increased investments
in advanced manufacturing capacity and next-generation technologies
for new copper and low-k dielectric applications.
"We are in a major industry upturn and expect strong demand to
continue for semiconductor devices that enable Internet-related,
telecommunications and consumer products. Applied Materials, with its
industry-leading solutions and unmatched global support
infrastructure, is well-positioned to capitalize on this opportunity,"
concluded Morgan.
This press release contains certain forward-looking statements,
including, but not limited to, those relating to capital spending by
customers, semiconductor demand, product applications and customer
migration to advanced technologies. These forward-looking statements
are subject to known and unknown risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statements. Such risks and uncertainties include, but
are not limited to: changes in customer capacity requirements and
demand for semiconductors; the ability of the Company to maintain its
technology and market share leadership; the successful and timely
development of new markets, products, processes and services; the
successful integration and growth of acquired businesses; the ability
of the Company to satisfy manufacturing demands, based in part on the
availability of critical components; the ability of the Company to
continue to improve productivity and operating performance; changes in
global economic conditions; and those risks and uncertainties
described in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update the
information in this press release.
Applied Materials, Inc., a Fortune 500 global growth company, is
the world's largest supplier of wafer fabrication solutions to the
semiconductor industry. Applied Materials is traded on the Nasdaq
National Market under the symbol, "AMAT". Applied Materials' website
is appliedmaterials.com. |
