Applied Materials (AMAT) Cuts FY12 Sales, EPS Outlook
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Price: $15.97 +1.20%
EPS Growth %: -40.7%
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Total operating expenses: 876M
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EPS Growth %: -40.7%
Financial Fact:
Total operating expenses: 876M
Today's EPS Names:
CO, JW-A, FDS, More
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Applied Materials, Inc. (Nasdaq: AMAT), 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.
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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.
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