S&P 500
7,492.40
+0.57%
Dow Jones
52,081.90
+0.31%
Nasdaq 100
29,030.40
+1.41%
Russell 2000
2,967.77
+0.84%
FTSE 100
10,554.00
+0.86%
Nikkei 225
66,266.20
+1.79%

Investing

Applied Materials Skates Past Estimates (AMAT)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

Invalid Image
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 EPS.  While this is showing sales down by one-third of last year, this is actually above estimates.  Thomson Reuters had estimates pegged at -$0.08 non-GAAP EPS and $958+ million in revenues.

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.

Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Paul Ausick |

Weaker Quarter Coming Says Applied Materials (AMAT)

Applied Materials Inc. (NASDAQ: AMAT) reported adjusted third fiscal quarter EPS of $0.24 and $2.34 billion in revenues after markets…

Douglas A. McIntyre |

Applied Leaves Little To Imagination (AMAT)

Applied Materials, Inc. (NASDAQ: AMAT) just reported earnings.  There was of course the expected drop as many chip and chip…

Altria Stock Dented by Another $4.1 Billion Impairment
Paul Ausick |

Altria Stock Dented by Another $4.1 Billion Impairment

Marlboro cigarette maker Altria reported a net loss of $1.00 a share primarily due to another massive impairment charge related…

Paul Ausick |

Why a BlackBerry Profit Should Surprise Even Its Rivals

BlackBerry reported better-than- expected fourth-quarter and fiscal 2015 earnings before markets opened Friday morning.

Record Applied Materials Earnings Just Don’t Cut It
Chris Lange |

Record Applied Materials Earnings Just Don’t Cut It

Even though Applied Materials reported better-than-expected fiscal second-quarter financial results, its shares dropped sharply Friday morning.

Paul Ausick |

JCPenney Reports Big Loss

courtesy J.C. Penney Co. Inc.JCPenney Company Inc. (NYSE: JCP) reported third-quarter 2012 results this morning. The retailer posted a net…

EA Slides on Mixed Results
Chris Lange |

EA Slides on Mixed Results

Electronic Arts Inc. (NASDAQ: EA) reported fiscal second-quarter financial results after markets closed on Tuesday. The company said that it…

Are GE Earnings Really That Good?
Paul Ausick |

Are GE Earnings Really That Good?

Investors are revving up enthusiasm for GE shares following a third-quarter earnings report that was better than expected. The best…

Douglas A. McIntyre |

Green Mountain Earnings Battle Value & Performance (GMCR)

Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) has been a stock that nearly defied logic in its meteoric rise.  It…

Top Gaining Stocks

Global Payments
GPN • Vol: 5,888,970
Teradyne
TER • Vol: 2,940,439
Axon Enterprise
AXON • Vol: 828,725
DoorDash
DASH • Vol: 2,831,716
LyondellBasell Industries
LYB • Vol: 5,327,300

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Enphase Energy
ENPH • Vol: 3,986,110
Oracle
ORCL • Vol: 36,791,047
KKR
KKR • Vol: 3,398,273
United Parcel Service
UPS • Vol: 7,648,289