Applied Materials Inc. (AMAT-NASDAQ) posted $0.29 EPS on sales of $2.53 Billion versus First Call estimates are $0.28 EPS and $2.35 billion in revenues. On a non-GAAP EPS basis Applied posted an even more impressive $0.36 EPS. As far as what to expect for Q3 we didn’t get guidance, but the current estimates are $0.30 EPS and $2.43 Billion in revenues.
It said New Orders were $2.65 Billion; and Backlog at the end of the second quarter of fiscal 2007 was $3.67 billion, compared to $3.55 billion at the end of the first quarter of fiscal 2007.
Mike Splinter, president and CEO: "Applied Materials delivered higher than expected revenue and earnings this quarter. We demonstrated our ability to execute across our business lines, deliver enhanced operational performance and open new opportunities for growth, announcing our first contracts for solar cell production lines. While the market for Display remained soft, Silicon and Fab Solutions exceeded expectations fueled by continued high levels of memory investment and momentum from market share gains."
Unfortunately there was not any formal guidance so this one is still ‘unresolved business.’ Shares of Applied Materials ar up about 1.4% at $20.13, but that is after a 3.1% drop back to under $20.00 today.
Jon C. Ogg
May 15, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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