Applied Materials Announces Fiscal 2007 Full Year and Fourth Quarter Results

Date: 16 November 2007
Source: Businesswire.com

Date: 16 November 2007

Applied Materials, Inc. reported results for its fiscal year and fourth quarter ended October 28, 2007. Fiscal 2007 net sales were a record $9.73 billion, a 6 percent increase from $9.17 billion for fiscal 2006.

Net income was $1.71 billion, or $1.20 per diluted share, up from $1.52 billion, or $0.97 per diluted share, for fiscal 2006. New orders were $9.68 billion, a 2 percent decrease from $9.89 billion for fiscal 2006.



“This was one of the strongest years in the history of Applied Materials as we delivered record net sales and increased profitability,” said Mike Splinter, president and CEO. “During 2007, we enhanced our position in flash memory, entered the thin film solar business with strong demand for the SunFab line, and drove our operating performance to increase earnings per share. These achievements strengthen our foundation for the future.



“We met our financial targets for the fourth quarter in a softening semiconductor and a challenging display environment. We invested in new opportunities, including the HCT acquisition for precision solar wafering and the launch of our PVD product for flat panel display arrays,” said Splinter.



Fourth quarter net sales were $2.37 billion, down from $2.52 billion for the fourth quarter of fiscal 2006, and down from $2.56 billion for the third quarter of fiscal 2007. Gross margin was 45.5 percent, down from 47.1 percent for the fourth quarter of fiscal 2006, and down from 47.5 percent for the third quarter of fiscal 2007. Net income was $422 million, or $0.30 per share, compared to net income of $449 million, or $0.30 per share, for the fourth quarter of fiscal 2006, and down from $474 million, or $0.34 per share, for the third quarter of fiscal 2007.



New orders of $2.21 billion for the fourth quarter of fiscal 2007 decreased 18 percent from $2.69 billion for the fourth quarter of fiscal 2006, and decreased 3 percent from $2.28 billion for the third quarter of fiscal 2007. Regional distribution of new orders for the fourth quarter of fiscal 2007 was: Taiwan 27 percent, Japan 18 percent, Southeast Asia and China 18 percent, Korea 14 percent, North America 13 percent, and Europe 10 percent. Backlog at the end of the fourth quarter of fiscal 2007 was $3.65 billion, up from $3.43 billion at the end of the third quarter of fiscal 2007.



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