Applied Materials (AMAT) Beats Q4 Views, But Investors Cautious on Light Q1 Outlook
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Price: $496.21 --0%
Financial Fact:
Total operating expenses: 596M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 596M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Applied Materials (Nasdaq: AMAT) shares are trading slightly lower late Wednesday following strong fourth-quarter numbers, but an outlook that came in below views.
Net income for the quarter fell 2.6 percent to $456 million, or 34 cents per share. Adjusting for a one-time tax benefit, earnings fell to just 21 cents per share.
Revenue for Applied Materials dropped 25 percent from $2.89 billion during the same quarter last year to $2.18 billion.
The street was looking for earnings of 19 cents per share and revenue of $2.15 billion.
The company is looking for first-quarter EPS of $0.08-$0.16, versus the consensus of $0.18. Sales are expected to be $1.85-$2.07 billion, vs. the Street estimate of $2.07 billion.
Of all Applied Materials' segments, Display recorded the worst quarte, with orders down 91 percent to $20 million. Applied Materials' Silicon Systems Group orders fell 25 percent to $925 million, while Applied Global Services order dropped just 8 percent to $564 million.
Gross margin fell 350 basis points to 39 percent, and cash and equivalents rose to $7.17 billion.
Looking ahead, Applied Materials sees first-quarter 2012 non-GAAP earnings of 8 to 16 cents per share and sales of $1.90 to $2.07 billion. The Street is currently at 18 cents per share for earnings and revenue of $2.07 billion.
Shares of Applied Materials are about 2 percent lower in late trading.
Net income for the quarter fell 2.6 percent to $456 million, or 34 cents per share. Adjusting for a one-time tax benefit, earnings fell to just 21 cents per share.
Revenue for Applied Materials dropped 25 percent from $2.89 billion during the same quarter last year to $2.18 billion.
The street was looking for earnings of 19 cents per share and revenue of $2.15 billion.
The company is looking for first-quarter EPS of $0.08-$0.16, versus the consensus of $0.18. Sales are expected to be $1.85-$2.07 billion, vs. the Street estimate of $2.07 billion.
Of all Applied Materials' segments, Display recorded the worst quarte, with orders down 91 percent to $20 million. Applied Materials' Silicon Systems Group orders fell 25 percent to $925 million, while Applied Global Services order dropped just 8 percent to $564 million.
Gross margin fell 350 basis points to 39 percent, and cash and equivalents rose to $7.17 billion.
Looking ahead, Applied Materials sees first-quarter 2012 non-GAAP earnings of 8 to 16 cents per share and sales of $1.90 to $2.07 billion. The Street is currently at 18 cents per share for earnings and revenue of $2.07 billion.
Shares of Applied Materials are about 2 percent lower in late trading.
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