Applied Materials Delivers All-Time Record Performance


APPLIED MATERIALS, INC. UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

	Three Months Ended					Twelve Months Ended
(In millions, except per share amounts)	October 29, 2017			October 30, 2016		October 29, 2017			October 30, 2016
Non-GAAP Adjusted Earnings Per Diluted Share
Reported earnings per diluted share - GAAP basis	$	0.91		$	0.56	$	3.17		$	1.54
Certain items associated with acquisitions	0.04			0.04		0.16			0.16
Resolution of prior years’ income tax filings, reinstatement of federal R&D tax credit and other tax items	(0.01		)	0.05		(0.07		)	0.04
Other gains, losses or charges, net	(0.01		)	0.01		(0.01		)	0.01
Non-GAAP adjusted earnings per diluted share	$	0.93		$	0.66	$	3.25		$	1.75
Weighted average number of diluted shares	1,076			1,093		1,084			1,116


APPLIED MATERIALS, INC. UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

	Three Months Ended						Twelve Months Ended
(In millions, except percentages)	October 29, 2017			October 30, 2016			October 29, 2017			October 30, 2016
Semiconductor Systems Non-GAAP Adjusted Operating Income
Reported operating income - GAAP basis	$	801		$	667		$	3,173		$	1,807
Certain items associated with acquisitions¹	46			46			184			184
Non-GAAP adjusted operating income	$	847		$	713		$	3,357		$	1,991
Non-GAAP adjusted operating margin	34.8		%	33.5		%	35.3		%	29.0		%
AGS Non-GAAP Adjusted Operating Income
Reported operating income - GAAP basis	$	232		$	193		$	817		$	682
Certain items associated with acquisitions ¹	—			—			1			1
Acquisition integration costs	—			—			3			—
Non-GAAP adjusted operating income	$	232		$	193		$	821		$	683
Non-GAAP adjusted operating margin	27.9		%	27.8		%	27.2		%	26.4		%
Display and Adjacent Markets Non-GAAP Adjusted Operating Income
Reported operating income - GAAP basis	$	212		$	103		$	502		$	245
Certain items associated with acquisitions ¹	3			—			5			—
Non-GAAP adjusted operating income	$	215		$	103		$	507		$	245
Non-GAAP adjusted operating margin	31.8		%	22.8		%	26.7		%	20.3		%

¹ These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.

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