Applied Materials Skates Past Estimates (AMAT)
Applied Materials, Inc. (NASDAQ: AMAT) has reported results for its fiscal third quarter and its net sales were $1.13 billion. The non-GAAP net loss was $2 million, or break-even per share; the GAAP net loss was $55 million, or -$0.04…
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New orders for the quarter were $1.07 billion. Applied said that its backlog at the end of the quarter was $2.95 billion, down from $3.16 billion in the previous quarter.
The company does have over $2.1 billion in cash and short-term investments as of the end of the quarter, plus it listed another $990 million in long-term investments. Accounts receivable were listed as another $842.1 million, yet that is down from almost $1.7 billion a year ago.
Unfortunately the details are very limited and the guidance was left out until the conference call. Without that, we are considering this merely unfinished business.
Applied closed down 1.8% at $13.22 today, and shares are trading at $13.45 in the after-hours session. The 52-week range is $7.80 to $19.60.
JON C. OGG
AUGUST 11, 2009
Contact [email protected] for any questions or corrections.
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