Applied Materials Delivers Strong Year-On-Year Growth in Quarterly Revenue and Earnings Per Share


1These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.
  
2Applied adopted the accounting standard related to share-based compensation (ASU 2016-09) in the first quarter of fiscal 2018, which resulted in $53 million tax benefit on a GAAP basis for the six months ended April 29, 2018; this benefit is being recognized ratably over the fiscal year on a non-GAAP basis.
  
3Charges to income tax provision related to a one-time transition tax and a decrease in U.S. deferred tax assets as a result of the recent U.S. tax legislation.
  
4Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes.


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

 Three Months Ended Six Months Ended
(In millions, except per share amounts)April 29,
 2018
 April 30,
 2017
 April 29,
 2018
 April 30,
 2017
Non-GAAP Adjusted Earnings Per Diluted Share       
Reported earnings per diluted share - GAAP basis$1.09  $0.76  $1.20  $1.40 
Certain items associated with acquisitions0.04  0.04  0.09  0.08 
Income tax effect of share-based compensation0.01    (0.03)  
Income tax effect of changes in applicable U.S. tax laws0.07    1.02   
Resolution of prior years’ income tax filings and other tax items0.01  (0.01)   (0.02)
Non-GAAP adjusted earnings per diluted share$1.22  $0.79  $2.28  $1.46 
Weighted average number of diluted shares1,040  1,087  1,056  1,088 


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

 Three Months Ended Six Months Ended
(In millions, except percentages)April 29,
 2018
 April 30,
 2017
 April 29,
 2018
 April 30,
 2017
Semiconductor Systems Non-GAAP Adjusted Operating Income       
Reported operating income - GAAP basis$1,071  $808  $2,066  $1,498 
Certain items associated with acquisitions146  46  92  92 
Non-GAAP adjusted operating income$1,117  $854  $2,158  $1,590 
Non-GAAP adjusted operating margin37.2%  35.5 %   36.9 %   34.9 %
AGS Non-GAAP Adjusted Operating Income              
Reported operating income - GAAP basis $ 278     $ 194     $ 532     $ 372  
Acquisition integration costs     1     1     2  
Non-GAAP adjusted operating income $ 278     $ 195     $ 533     $ 374  
Non-GAAP adjusted operating margin 29.5 %   26.9 %   29.2 %   26.7 %
Display and Adjacent Markets Non-GAAP Adjusted Operating Income              
Reported operating income - GAAP basis $ 162     $ 84     $ 263     $ 199  
Certain items associated with acquisitions 1 3         6      
Acquisition integration costs 1         1      
Non-GAAP adjusted operating income $ 166     $ 84     $ 270     $ 199  
Non-GAAP adjusted operating margin 27.7 %   21.5 %   25.6 %   24.5 %

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