02.19.16
Applied Materials, Inc. reported results for its first quarter ended Jan. 31, 2016.
First quarter orders were $2.28 billion, down 6% sequentially and flat year over year. Net sales were $2.26 billion, down 5% sequentially and down 4% year over year.
On a non-GAAP adjusted basis, the company reported first quarter gross margin of 42.4%, operating margin of 17.8%, and net income of $302 million or $0.26 per diluted share. The company recorded GAAP gross margin of 40.6%, operating margin of 15.7%, and net income of $286 million or $0.25 per diluted share.
The company generated $207 million in cash from operations during the first quarter, paid dividends of $115 million and used $625 million to repurchase 35 million shares of common stock.
“As the market moves into the sweet spot for Applied’s materials engineering technology, we see strong demand for our semiconductor, display and service businesses,” said Gary Dickerson, president and CEO. “We are maintaining a positive outlook for 2016 as our customers make strategic, inflection-driven investments that play to our strengths.”
For the second quarter of fiscal 2016, Applied expects net sales to be up 5% to 10% sequentially. Non-GAAP adjusted diluted EPS is expected to be in the range of $0.30 to $0.34.
First quarter orders were $2.28 billion, down 6% sequentially and flat year over year. Net sales were $2.26 billion, down 5% sequentially and down 4% year over year.
On a non-GAAP adjusted basis, the company reported first quarter gross margin of 42.4%, operating margin of 17.8%, and net income of $302 million or $0.26 per diluted share. The company recorded GAAP gross margin of 40.6%, operating margin of 15.7%, and net income of $286 million or $0.25 per diluted share.
The company generated $207 million in cash from operations during the first quarter, paid dividends of $115 million and used $625 million to repurchase 35 million shares of common stock.
“As the market moves into the sweet spot for Applied’s materials engineering technology, we see strong demand for our semiconductor, display and service businesses,” said Gary Dickerson, president and CEO. “We are maintaining a positive outlook for 2016 as our customers make strategic, inflection-driven investments that play to our strengths.”
For the second quarter of fiscal 2016, Applied expects net sales to be up 5% to 10% sequentially. Non-GAAP adjusted diluted EPS is expected to be in the range of $0.30 to $0.34.