July 10 (Reuters) - Applied Materials Inc <AMAT.O>:    *     
    
Applied Materials revises FY 2012 business outlook on lower foundry equipment   
demand    *   
Says expects net sales to be below the previous outlook of $9.1 billion to      $9.5 billion for FY    *     
Expects non-GAAP EPS for the third quarter to be in the lower half of the    
      previous outlook of $0.21-$0.29.  
  
Expects that demand changes could have a $0.15 to $0.20 impact on full-year   
non-GAAP EPS results*     
Expects Q3 financial results to remain within the outlook ranges provided    
      during its Q2 earnings call    *     
For fiscal year ending October 28, 2012, expects non-GAAP EPS below the    
      previous range of $0.85 to $0.95    *     
FY 2012 earnings per share view $0.94, revenue view $9.50 billion    
 -- Thomson      Reuters I/B/E/S    *     
Net sales for Q3 expected to be at low end of the previous outlook of          
flat-to-down-10% from $2.54 billion in Q2    *     
Revised calendar year 2012 industry forecast for wafer fab equipment spending    
      to $30 to $33 billion    *     
Q3 earnings per share view $0.25, revenue view $2.43 billion -- Thomson    
      Reuters I/B/E/S    *     
Cut outlook due to weaker than expected demand in semiconductor equipment    
      business, mainly foundry customers