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Applied Materials Flies Past Estimates (AMAT)

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By Jon C. Ogg Published
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Applied Materials Inc. (NASDAQ: AMAT) has reported its second quarter earnings and the headline summaries may have caused some confusion.  The chip equipment giant reported $0.09 EPS, but this was really $0.18 EPS on an adjusted basis on $2.19 billion in sales.  Thomson Reuters had estimates of $0.12 EPS on $1.97 billion in sales.

It may sound high, but Applied has reported a 26% sequential rise in new orders to $2.01 billion.  The company is putting non-GAAP earnings guidance ahead at $0.20 to $0.28 EPS versus a consensus of $0.16 EPS from Thomson Reuters.

Cash was returned to holders as well with some $104 million paid out in cash dividends during the quarter and it used $200 million to repurchase over 18 million shares of the company’s common stock.  Another milestone was the closing of its Varian acquisition.

Applied Materials closed up 2.4% at $13.21 and shares are now up 3.1% at $13.73.  Its 52-week trading range is $9.70 to $16.93. This is one of those reports where the good gets better.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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