Applied Materials Announces Third Quarter 2019 Results

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)%

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