News Article
AMAT records 6 fold increase
Coming on the back of renewed semiconductor output Applied Materials has announced a 6 fold increase in income
Applied Materials has released 2010 figures pointing to an increased year of production for the industry. Recording a six times increase in income the company stated that the semiconductor industry was a stronger than expected performer.
Applied Materials' net income for the quarter advanced to $506 million or $0.38 per share from $83 million or $0.06 per share in the fourth quarter of previous year.
Adjusting for one-time items, net income surged to $484 million or $0.36 per share from $179 million or $0.13 per share last year.
On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.33 per share in the quarter. Analysts' estimates typically excludes special items.
Net sales increased to $2.69 billion from $1.85 billion in the comparable quarter a year ago. Analysts were looking for revenue of $2.59 billion for the quarter.
Looking ahead to the second quarter, Applied expects adjusted earnings to be in the range of $0.34 to $0.38 per share. For the full year, the company expects adjusted earnings to by $1.50 per share.
Analysts currently expects the company to earn $0.31 per share in the second quarter, and $1.27 per share in full year 2011.
