<li id="qssgf"></li>

    <progress id="qssgf"><strike id="qssgf"></strike></progress>
    <li id="qssgf"></li>
  1. <button id="qssgf"><ol id="qssgf"><mark id="qssgf"></mark></ol></button>
    <progress id="qssgf"><legend id="qssgf"></legend></progress>
    <button id="qssgf"><ol id="qssgf"><mark id="qssgf"></mark></ol></button>
  2. 
    

    skip to main content

    Applied Materials Announces First Quarter 2020 Results

    • Quarterly revenue of $4.16 billion, up 11 percent year over year
    • GAAP EPS of $0.96 and non-GAAP EPS of $0.98, up 20 percent and 21 percent year over year, respectively
    • Returned $392 million to shareholders

    SANTA CLARA, Calif., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its first quarter ended Jan. 26, 2020.

    First Quarter Results

    Applied generated revenue of $4.16 billion. On a GAAP basis, the company recorded gross margin of 44.6 percent, operating income of $1.04 billion or 25.0 percent of net sales, and earnings per share (EPS) of $0.96.

    On a non-GAAP adjusted basis, the company reported gross margin of 44.9 percent, operating income of $1.07 billion or 25.7 percent of net sales, and EPS of $0.98.

    The company returned $392 million to shareholders including $200 million in share repurchases and dividends of $192 million.

    “Applied Materials’ first quarter earnings exceeded the top-end of our guidance, giving us great momentum entering 2020,” said Gary Dickerson, president and CEO. “We believe we can deliver strong double-digit growth in our semiconductor business this year as our unique solutions accelerate our customers’ success in the AI-Big Data era.”

    Quarterly Results Summary

     Q1 FY2020  Q1 FY2019 Change
     (In millions, except per share amounts and percentages)
    Net sales$4,162  $3,753  11% 
    Gross margin44.6%  44.4%  0.2 points
    Operating margin25.0%  24.2%  0.8 points
    Net income$892  $771  16% 
    Diluted earnings per share$0.96  $0.80  20% 
    Non-GAAP Adjusted Results     
    Non-GAAP adjusted gross margin44.9%  44.6%  0.3 points
    Non-GAAP adjusted operating margin25.7%  24.6%  1.1 points
    Non-GAAP adjusted net income$904  $779  16% 
    Non-GAAP adjusted diluted EPS$0.98  $0.81  21% 

    A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also “Use of Non-GAAP Adjusted Financial Measures” section.

    Business Outlook

    In the second quarter of fiscal 2020, Applied expects net sales to be approximately $4.34 billion, plus or minus $200 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $0.98 to $1.10.

    This outlook for non-GAAP adjusted diluted EPS excludes known charges related to completed acquisitions of $0.01 per share, includes the normalized tax benefit of share-based compensation of $0.01 per share and net income tax benefit related to intra-entity intangible asset transfers of $0.03 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.

    First Quarter Reportable Segment Information

    Semiconductor SystemsQ1 FY2020  Q1 FY2019
     (In millions, except percentages)
    Net sales$2,814  $2,268 
    Foundry, logic and other68%  44% 
    DRAM15%  21% 
    Flash17%  35% 
    Operating income915  631 
    Operating margin32.5%  27.8% 
    Non-GAAP Adjusted Results  
    Non-GAAP adjusted operating income$925  $642 
    Non-GAAP adjusted operating margin32.9%  28.3% 

     

    Applied Global ServicesQ1 FY2020  Q1 FY2019
     (In millions, except percentages)
    Net sales$997  $962 
    Operating income278  285 
    Operating margin27.9%  29.6% 
    Non-GAAP Adjusted Results  
    Non-GAAP adjusted operating income$278  $285 
    Non-GAAP adjusted operating margin27.9%  29.6% 

     

    Display and Adjacent MarketsQ1 FY2020  Q1 FY2019
     (In millions, except percentages)
    Net sales$332  $507 
    Operating income38  115 
    Operating margin11.4%  22.7% 
    Non-GAAP Adjusted Results  
    Non-GAAP adjusted operating income$41  $118 
    Non-GAAP adjusted operating margin12.3%  23.3% 

    Use of Non-GAAP Adjusted Financial Measures

    Applied provides investors with certain non-GAAP adjusted financial measures, which are adjusted for the impact of certain costs, expenses, gains and losses, including certain items related to mergers and acquisitions; restructuring charges and any associated adjustments; impairments of assets, or investments; gain or loss on sale of strategic investments; tax effect of share-based compensation; certain income tax items and other discrete adjustments. Additionally, non-GAAP results exclude estimated discrete income tax expense items associated with changes to U.S. tax legislation. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.

    Management uses these non-GAAP adjusted financial measures to evaluate the company’s operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Applied believes these measures enhance an overall understanding of its performance and investors’ ability to review the company’s business from the same perspective as the company’s management, and facilitate comparisons of this period’s results with prior periods on a consistent basis by excluding items that management does not believe are indicative of Applied's ongoing operating performance. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.

    Webcast Information

    Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast will be available at www.zhuangqi.site. A replay will be available on the website beginning at 5:00 p.m. Pacific Time today.

    Forward-Looking Statements

    This press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation, our investment and growth strategies, our development of new products and technologies, our business outlook for the second quarter of fiscal 2020 and beyond, the impact of the coronavirus outbreak on our operations and financial results; and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic and industry conditions; the effects of regional or global health epidemics; global trade issues and changes in trade policies; consumer demand for electronic products; the demand for semiconductors; customers’ technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; the concentrated nature of our customer base;  changes in income tax laws; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs;  and other risks and uncertainties described in our SEC filings, including our recent Forms 10-K and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.

    About Applied Materials

    Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.zhuangqi.site.

    Contact:

    Ricky Gradwohl (editorial/media) 408.235.4676
    Michael Sullivan (financial community) 408.986.7977

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

     Three Months Ended
    (In millions, except per share amounts)January 26,
    2020
     January 27,
    2019
    Net sales$4,162  $3,753 
    Cost of products sold2,304  2,088 
    Gross profit1,858  1,665 
    Operating expenses:   
    Research, development and engineering552  516 
    Marketing and selling135  131 
    General and administrative129  110 
    Total operating expenses816  757 
    Income from operations1,042  908 
    Interest expense59  60 
    Interest and other income, net22  40 
    Income before income taxes1,005  888 
    Provision for income taxes113  117 
    Net income$892  $771 
    Earnings per share:   
    Basic$0.97  $0.81 
    Diluted$0.96  $0.80 
    Weighted average number of shares:   
    Basic916  957 
    Diluted927  965 

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS

    (In millions)January 26,
    2020
     October 27,
    2019
    ASSETS   
    Current assets:   
    Cash and cash equivalents$3,424  $3,129 
    Short-term investments536  489 
    Accounts receivable, net2,679  2,533 
    Inventories3,472  3,474 
    Other current assets658  581 
    Total current assets10,769  10,206 
    Long-term investments1,713  1,703 
    Property, plant and equipment, net1,555  1,529 
    Goodwill3,399  3,399 
    Purchased technology and other intangible assets, net142  156 
    Deferred income taxes and other assets2,189  2,031 
    Total assets$19,767  $19,024 
    LIABILITIES AND STOCKHOLDERS’ EQUITY   
    Current liabilities:   
    Current portion of long-term debt$600  $600 
    Accounts payable and accrued expenses2,569  2,511 
    Contract liabilities1,400  1,336 
    Total current liabilities4,569  4,447 
    Long-term debt4,714  4,713 
    Income taxes payable1,298  1,275 
    Other liabilities526  375 
    Total liabilities11,107  10,810 
    Total stockholders’ equity8,660  8,214 
    Total liabilities and stockholders’ equity$19,767  $19,024 

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

    (In millions)Three Months Ended
    January 26,
    2020
     January 27,
    2019
    Cash flows from operating activities:   
    Net income$892  $771 
    Adjustments required to reconcile net income to cash provided by operating activities:   
    Depreciation and amortization94  88 
    Share-based compensation93  65 
    Deferred income taxes30  41 
    Other15  1 
    Net change in operating assets and liabilities(137)  (132) 
    Cash provided by operating activities987  834 
    Cash flows from investing activities:   
    Capital expenditures(102)  (133) 
    Proceeds from sales and maturities of investments368  464 
    Purchases of investments(428)  (397) 
    Cash used in investing activities(162)  (66) 
    Cash flows from financing activities:   
    Proceeds from common stock issuances15   
    Common stock repurchases(200)  (750) 
    Tax withholding payments for vested equity awards(153)  (74) 
    Payments of dividends to stockholders(192)  (192) 
    Cash used in financing activities(530)  (1,016) 
    Increase (decrease) in cash and cash equivalents295  (248) 
    Cash and cash equivalents — beginning of period3,129  3,440 
    Cash and cash equivalents — end of period$3,424  $3,192 
    Supplemental cash flow information:   
    Cash payments for income taxes$82  $34 
    Cash refunds from income taxes$1  $8 
    Cash payments for interest$34  $34 

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED SUPPLEMENTAL INFORMATION

    Corporate and Other   
    (In millions)Q1 FY2020  Q1 FY2019
    Unallocated net sales$19   $16  
    Unallocated cost of products sold and expenses(115)  (74) 
    Share-based compensation(93)  (65) 
    Total$(189)  $(123) 

     

    Additional Information   
     Q1 FY2020  Q1 FY2019
    Net Sales by Geography (In millions) 
    United States441  450 
    % of Total10%  12% 
    Europe153  296 
    % of Total4%  8% 
    Japan351  651 
    % of Total8%  17% 
    Korea508  572 
    % of Total12%  15% 
    Taiwan1,365  656 
    % of Total33%  18% 
    Southeast Asia72  160 
    % of Total2%  4% 
    China1,272  968 
    % of Total31%  26% 
        
    Employees (In thousands)   
    Regular Full Time22.3  21.2 


     

     

     APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

     Three Months Ended
    (In millions, except percentages)January 26,
    2020
     January 27,
    2019
    Non-GAAP Adjusted Gross Profit   
    Reported gross profit - GAAP basis$1,858  $1,665 
    Certain items associated with acquisitions19  10 
    Non-GAAP adjusted gross profit$1,867  $1,675 
    Non-GAAP adjusted gross margin44.9%  44.6% 
    Non-GAAP Adjusted Operating Income   
    Reported operating income - GAAP basis$1,042  $908 
    Certain items associated with acquisitions113  14 
    Acquisition integration and deal costs13  3 
    Non-GAAP adjusted operating income$1,068  $925 
    Non-GAAP adjusted operating margin25.7%? 24.6% 
    Non-GAAP Adjusted Net Income   
    Reported net income - GAAP basis$892  $771 
    Certain items associated with acquisitions113  14 
    Acquisition integration and deal costs13  3 
    Impairment (gain on sale) of strategic investments, net2  (2) 
    Loss (gain) on strategic investments, net2  (10) 
    Income tax effect of share-based compensation2(33)  (5) 
    Income tax effect of changes in applicable U.S. tax laws3  (24) 
    Income tax effects related to amortization of intra-entity intangible asset transfers21  (28) 
    Resolution of prior years’ income tax filings and other tax items(1)  59 
    Income tax effect of non-GAAP adjustments4(5)  1 
    Non-GAAP adjusted net income$904  $779 

     

    These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.
      
    2GAAP basis tax benefit related to share-based compensation is recognized ratably over the fiscal year on a non-GAAP basis.
      
    3Charges to income tax provision related to a one-time transition tax as a result of U.S. tax legislation.
      
    4Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes.

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

     Three Months Ended
    (In millions, except per share amounts)January 26,
    2020
     January 27,
    2019
    Non-GAAP Adjusted Earnings Per Diluted Share   
    Reported earnings per diluted share - GAAP basis$0.96   $0.80  
    Certain items associated with acquisitions0.01   0.01  
    Acquisition integration and deal costs0.01   —  
    Loss (gain) on strategic investments, net—   (0.01) 
    Income tax effect of share-based compensation(0.03)  —  
    Income tax effect of changes in applicable U.S. tax laws—   (0.02) 
    Income tax effects related to amortization of intra-entity intangible asset transfers0.03   (0.03) 
    Resolution of prior years’ income tax filings and other tax items—   0.06  
    Non-GAAP adjusted earnings per diluted share$0.98   $0.81  
    Weighted average number of diluted shares927   965  

     

     

    APPLIED MATERIALS, INC.
    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

     Three Months Ended
    (In millions, except percentages)January 26,
    2020
     January 27,
    2019
    Semiconductor Systems Non-GAAP Adjusted Operating Income   
    Reported operating income - GAAP basis$915  $631 
    Certain items associated with acquisitions110  11 
    Non-GAAP adjusted operating income$925  $642 
    Non-GAAP adjusted operating margin32.9%  28.3% 
    AGS Non-GAAP Adjusted Operating Income   
    Reported operating income - GAAP basis$278  $285 
    Non-GAAP adjusted operating income$278  $285 
    Non-GAAP adjusted operating margin27.9%  29.6% 
    Display and Adjacent Markets Non-GAAP Adjusted Operating Income   
    Reported operating income - GAAP basis$38  $115 
    Certain items associated with acquisitions13  3 
    Non-GAAP adjusted operating income$41  $118 
    Non-GAAP adjusted operating margin12.3%  23.3% 

     

    These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.

    Note: The reconciliation of GAAP and non-GAAP adjusted segment results above does not include certain revenues, costs of products sold and operating expenses that are reported within corporate and other and included in consolidated operating income.

     

     

    UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED EFFECTIVE INCOME TAX RATE

     Three Months Ended
    (In millions, except percentages)January 26, 2020
      
    Provision for income taxes - GAAP basis (a)$113 
    Income tax effect of share-based compensation33 
    Income tax effects related to amortization of intra-entity intangible asset transfers(21) 
    Resolutions of prior years’ income tax filings and other tax items1 
    Income tax effect of non-GAAP adjustments5 
    Non-GAAP adjusted provision for income taxes (b)$131 
      
    Income before income taxes - GAAP basis (c)$1,005 
    Certain items associated with acquisitions13 
    Acquisition integration and deal costs13 
    Impairment (gain on sale) of strategic investments, net2 
    Loss (gain) on strategic investments, net2 
    Non-GAAP adjusted income before income taxes (d)$1,035 
      
    Effective income tax rate - GAAP basis (a/c)11.2% 
      
    Non-GAAP adjusted effective income tax rate (b/d)12.7% 

    AMATlogo_blue.jpg

     

    Source: Applied Materials, Inc.

    February 12, 2020
    俺去啦最新官网