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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;

Stock News for Applied Materials (AMAT)
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)
06/09/201618:10:00Applied Materials Board Approves Fresh $2 Billion Share Buyback
06/09/201617:54:00Applied Materials Board Approves Fresh $2 Billion Share Buyback
06/09/201616:30:00Applied Materials Announces New $2 Billion Share Repurchase Program...
06/06/201617:04:17Statement of Changes in Beneficial Ownership (4)
05/27/201617:41:59Statement of Changes in Beneficial Ownership (4)
05/27/201613:12:41Specialized Disclosure Report (sd)
05/26/201616:23:20Quarterly Report (10-q)
05/25/201617:23:09Statement of Changes in Beneficial Ownership (4)
05/25/201609:00:00Applied Materials to Present at Upcoming Investor Conferences
05/20/201609:43:00U.S. Hot Stocks: Hot Stocks to Watch
05/19/201618:42:00Applied Materials Issues Upbeat Guidance as New Orders Surge--Update
05/19/201617:30:00Applied Materials Issues Upbeat Guidance as New Orders Surge
05/19/201617:25:00Applied Materials Issues Upbeat Guidance as New Orders Surge
05/19/201616:14:16Current Report Filing (8-k)
05/19/201616:02:00Applied Materials Announces Second Quarter 2016 Results
05/06/201608:00:00Applied Materials to Hold Q2 FY2016 Earnings Webcast on May 19...
04/07/201618:57:40Statement of Changes in Beneficial Ownership (4)

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