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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; [email protected]

Stock News for Applied Materials (AMAT)
DateTimeHeadline
03/13/201707:30:00Applied Materials Honored as a 2017 World’s Most Ethical Company
03/10/201716:31:29Current Report Filing (8-k)
03/09/201718:00:00Applied Materials Announces Cash Dividend
03/09/201715:16:13Applied Materials Names Thomas J. Iannotti Chairman of the Board...
02/23/201716:12:09Quarterly Report (10-q)
02/15/201716:25:18Current Report Filing (8-k)
02/15/201716:01:00Applied Materials Delivers Record Earnings Per Share
02/13/201708:30:00PV Nano Cell Signs LOI for the $10M Acquisition of Digital Printer...
02/10/201714:40:55Applied Materials Chief Technology Officer Dr. Om Nalamasu Elected...
02/09/201712:48:32Amended Statement of Ownership (sc 13g/a)
02/09/201707:30:00Applied Materials to Present at Upcoming Investor Conferences
02/06/201713:32:40Amended Statement of Ownership (sc 13g/a)
02/03/201707:30:00Applied Materials to Hold Q1 FY2017 Earnings Webcast on February...
01/26/201717:04:08Additional Proxy Soliciting Materials (definitive) (defa14a)
01/26/201717:03:44Proxy Statement (definitive) (def 14a)
01/19/201717:29:35Amended Statement of Ownership (sc 13g/a)
01/03/201718:23:12Statement of Changes in Beneficial Ownership (4)
01/03/201718:21:51Statement of Changes in Beneficial Ownership (4)
01/03/201718:18:43Statement of Changes in Beneficial Ownership (4)
12/15/201616:50:07Annual Report (10-k)

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