Applied Materials (AMAT) Q4 Beats Views, Sees Q1 Sales Down as Much as 15%

Shares of Applied Materials (Nasdaq: AMAT) are slightly higher in after-hours trading on Thursday after the technology company released its fourth-quarter earnings report. The report showed Applied Materials delivered on expectations despite challenging industry conditions.

AMAT reported revenue of $1.65 billion, topping estimates by $70 million. In the same quarter of last year, it reported revenue of $2.18 billion.

Gross margin declined to 38.4 percent vs 41.6 percent last year, and EPS came at 6 cents, beating estimates by 3 cents.

For the current quarter, Applied Materials sees sales flat to down 15 percent and non-GAAP EPS to be in the range of $0.00 to $0.06, versus the consensus of $0.09.

CEO Mike Splinter said "We see improving business conditions entering 2013, with orders projected to increase after bottoming in the fourth quarter."

He also thinks accelerated changes in device technology and materials will provide opportunities for AMAT going forward.

Applied Materials last traded at $10.52, up 2 percent.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Is the global equity rally broadening? UBS weighs in
• Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'