- Quarterly revenue of $3.56 billion
- GAAP EPS of $0.61 and non-GAAP EPS of $0.74
- Returns $724 million to shareholders
SANTA CLARA, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ:AMAT) today reported results for its third quarter ended July 28, 2019.
Third Quarter Results
Applied generated revenue of $3.56 billion. On a GAAP basis, the company recorded gross margin of 43.7 percent, operating income of $802 million or 22.5 percent of net sales, and earnings per share (EPS) of $0.61.
On a non-GAAP adjusted basis, the company reported gross margin of 44.0 percent, operating income of $820 million or 23.0 percent of net sales, and EPS of $0.74.
The company returned $724 million to shareholders including $528 million in share repurchases and dividends of $196 million.
“Applied Materials is delivering solid financial performance in a market environment that remains challenging for the time being,” said Gary Dickerson, president and CEO. “We are excited about the company’s future opportunities and are fully funding our R&D programs to develop new products and capabilities that will accelerate customers’ roadmaps and underpin our growth in the years ahead.”
Quarterly Results Summary
| Q3 FY2019 | Q3 FY2018 | Change | |||||||||||||||||
| (In millions, except per share amounts and
percentages) | |||||||||||||||||||
| Net sales | $ | 3,562 | $ | 4,162 | (14)% | ||||||||||||||
| Gross margin | 43.7 | % | 44.8 | % | (1.1) points | ||||||||||||||
| Operating margin | 22.5 | % | 26.3 | % | (3.8) points | ||||||||||||||
| Net income | $ | 571 | $ | 1,016 | (44)% | ||||||||||||||
| Diluted earnings per share | $ | 0.61 | $ | 1.01 | (40)% | ||||||||||||||
| Non-GAAP Adjusted Results | |||||||||||||||||||
| Non-GAAP adjusted gross margin | 44.0 | % | 45.9 | % | (1.9) points | ||||||||||||||
| Non-GAAP adjusted operating margin | 23.0 | % | 27.4 | % | (4.4) points | ||||||||||||||
| Non-GAAP adjusted net income | $ | 692 | $ | 1,048 | (34)% | ||||||||||||||
| Non-GAAP adjusted diluted EPS | $ | 0.74 | $ | 1.04 | (29)% | ||||||||||||||
