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Applied Materials Beats Lowered Estimates; No Guidance (AMAT)
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Applied Materials Inc. (NASDAQ: AMAT) has just posted earnings of $0.25 EPS non-GAAP (GAAP $0.19 EPS) on $2.09 Billion in revenues; First Call had estimates pegged at $0.20 non-GAAP EPS on $2.01 Billion revenues. While that number is 4% above its estimates on revenues, that is down about 8% year over year.
Margins were slightly above estimates but also eroded for the first quarter of fiscal 2008 to 44.8%, down from 46.7% for the first quarter of fiscal 2007. New orders were listed as $2.5 Billion. Applied already announced 1,000 layoffs and a reorganization in January, So this was just catching up to the news. Unfortunately, the company didn’t give guidance so this is an incomplete story until that is out.
Applied closed down almost 2% at $18.07 and it is trading up almost 3% at $18.55 in after-hours trading.
Jon C. Ogg
February 12, 2008
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