Applied Materials, Inc. : APPLIED MATERIALS REVISES FY2012 BUSINESS OUTLOOK ON LOWER FOUNDRY EQUIPMENT DEMAND
07/10/2012| 10:30am US/Eastern
Recommend:
SANTA CLARA, Calif., July 10, 2012 - Applied Materials, Inc.
(NASDAQ:AMAT), the global leader in providing manufacturing
solutions for the semiconductor, display and solar
industries, today revised its fiscal year 2012 business
outlook due to weaker than expected near-term demand in its
semiconductor equipment business, primarily among foundry
customers.
For the fiscal year ending October 28, 2012, the company
expects net sales to be below the previous outlook of $9.1
billion to $9.5 billion, with non-GAAP earnings per share
(EPS) below the previous range of $0.85 to $0.95. The company
will provide a new target range during its August 15 earnings
call, however it expects that the demand changes could have a
$0.15 to $0.20 impact on full-year non-GAAP EPS results.
Applied expects financial results for the third quarter of
fiscal 2012 ending July 29, 2012, to remain within the
outlook ranges provided during its second quarter earnings
call on May 17. Net sales for the third quarter are expected
to be at the low end of the previous outlook of
flat-to-down-10 percent from $2.54 billion in the second
quarter. The company expects non-GAAP EPS for the third
quarter to be in the lower half of the previous outlook of
$0.21-$0.29.
The company also revised its calendar year 2012 industry
forecast for wafer fab equipment spending to $30 to $33
billion, compared to its previous expectation of $32 to $35
billion, in line with the market changes.
Applied will discuss its revised business and industry
outlooks, along with the company's strategies and new
products for advanced semiconductor manufacturing, during a
briefing today at the SEMICON West trade show in San
Francisco. The presentation is scheduled to begin at 8:05
a.m. PDT, and a live video webcast will be available on
Applied's website at:
http://www.appliedmaterials.com/investor-relations. A replay
will be available beginning today at 5:00 p.m. PDT and will
remain available for at least 30 days.
Non-GAAP Financial Measures
The non-GAAP EPS outlooks exclude charges related to
completed acquisitions and announced restructuring and asset
impairments, but do not reflect other non-GAAP adjustments
that may arise subsequent to this release.
Forward-Looking Statements
This release contains forward-looking statements, including
those regarding Applied's third quarter and full-year
fiscal 2012 business outlooks and industry forecast. These
statements are subject to known and unknown risks and
uncertainties that could cause actual results to differ
materially from those expressed or implied by such
statements, including: the level and timing of demand for
Applied's products, which is subject to many factors,
such as uncertain global economic and industry conditions,
demand for electronic products and semiconductors, and
customers' new technology and capacity requirements; the
concentrated nature of Applied's customer base;
Applied's ability to (i) develop, deliver and support a
broad range of products and expand its markets, (ii)
effectively integrate Varian and realize synergies, (iii)
timely align its cost structure with business
conditions, and (iv) accurately forecast future
operating and financial results, which depends on multiple
assumptions; and other risks described in Applied
Materials' SEC filings. All forward-looking
statements are based on management's estimates,
projections and assumptions as of July 10, 2012, and Applied
undertakes no obligation to update any forward-looking
statements.
About Applied Materials
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
providing innovative equipment, services and software to
enable the manufacture of advanced semiconductor, flat panel
display and solar photovoltaic products. Our technologies
help make innovations like smartphones, flat screen TVs and
solar panels more affordable and accessible to consumers and
businesses around the world. At Applied Materials, we turn
today's innovations into the industries of tomorrow.www.appliedmaterials.com.
Investor Contact: Michael Sullivan, 408.209.4119
Media Contact: Matt Ceniceros, 408.768.8169
HUG#1625458
distributed by
|
|
Recommend :
