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Applied Materials Sees Year Results Short Of Wall Street Views

DOW JONES NEWSWIRES Applied Materials Inc. (AMAT) forecast fiscal 2012 results just shy of Wall Street estimates due to a sharp capacity-driven downturn in its solar and display equipment markets. The company estimated earnings for the year ending in October at 85 cents to 95 cents a share on revenue of between $9.1 billion and $9.5 billion. Analysts surveyed by Thomson Reuters expect 96 cents a share on $9.59 billion. Applied Materials makes tools used to make chips, television screens and some solar panels, a sector that tanked in the second half of 2011 as a supply glut forced manufacturers to scale back orders for new equipment. The company said it expects continued strength in it core semiconductor business. Chief Executive Mike Splinter said in a Dow Jones Newswires interview Tuesday the solar industry will likely suffer from overcapacity for about a year, forcing the equipment maker to cut additional costs from its business. While 2012 could be tough, Splinter expects 2013 to be a "reasonable" and profitable year for Applied's solar business. The company reported last month its fiscal first-quarter profit slumped 77% on weaker sales and acquisition costs, though the semiconductor-equipment maker said recent orders would deliver a stronger result in the fiscal second quarter. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Applied Materials (AMAT)
DateTimeHeadline
08/25/201607:30:00Applied Materials to Host Analyst Day on Wednesday, September...
08/18/201618:30:00Applied Materials Orders Hit Record High, as Profit Surges
08/18/201617:45:00Applied Materials Orders Hit Record High, as Profit Surges
08/18/201616:07:27Current Report Filing (8-k)
08/18/201616:01:00Applied Materials Announces Record Results
08/10/201615:50:00Lam Research, KLA-Tencor Shares Fall Amid Deal Status Concerns
08/05/201608:00:00Applied Materials to Hold Q3 FY2016 Earnings Webcast on August...
07/26/201618:58:51Statement of Changes in Beneficial Ownership (4)
07/26/201618:30:20Initial Statement of Beneficial Ownership (3)
07/25/201610:11:23Current Report Filing (8-k)
07/25/201607:30:00Applied Materials Appoints Judy Bruner to Board of Directors
07/12/201617:45:00Chip Makers and Suppliers Face Shifting Markets
07/11/201607:30:00Applied Materials’ Next-Generation E-Beam Inspection System P...
07/06/201616:46:16Statement of Changes in Beneficial Ownership (4)
07/06/201616:43:38Statement of Changes in Beneficial Ownership (4)
06/29/201607:30:00Applied Materials Revolutionizes Etch With Breakthrough Selective...
06/27/201619:14:14Statement of Changes in Beneficial Ownership (4)
06/23/201616:08:43Annual Report of Employee Stock Plans (11-k)
06/13/201608:45:00Technical Scrutiny on Semiconductor Equipment & Materials Stocks...
06/10/201616:23:40Securities Registration: Employee Benefit Plan (s-8)

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