On August 25, the world’s largest manufacturer of semiconductor manufacturing equipment (AMAT) today released its financial report for the third quarter of fiscal 2011. The report shows that the third-quarter net profit of applied materials was 476 million U.S. dollars, which was much higher than the same period of last year and exceeded Wall Street analysts' previous expectations. However, Applied Materials expects that revenue in the fourth quarter will drop by up to 30% from the third quarter, pushing its post-discount share price down 7.5%.
In the fiscal quarter ending in July, net profit of applied materials was US$476 million, and earnings per share were 36 cents, which was better than the same period last year. In the third quarter of fiscal 2010, net profit of applied materials was US$123 million, and earnings per share were 9 cents. Applied materials revenue for the third quarter was $2.79 billion, an increase of 11% over the same period last year. Excluding certain one-time items, Applied Materials' third quarter earnings per share were 35 cents, exceeding Wall Street analysts' previous expectations. According to a Bloomberg survey, analysts expect average application materials to earn 33 cents per share in the third quarter, with revenues of $2.67 billion.
The company’s earnings per share for the fourth quarter of fiscal year 2011 ranged from 16 cents to 24 cents, and its revenue will decline by up to 30% from the third quarter, which means that the lowest price will fall to 1.95 billion US dollars. A Bloomberg survey showed that analysts expected average earnings per application for the fourth quarter of 31 cents, and revenue of $2.55 billion. In July of this year, Applied Materials reiterated its expectation for the semiconductor manufacturing equipment market. It is estimated that this year's total market will reach US$30 billion to US$33 billion, saying that the largest semiconductor manufacturers will stick to their expenditure budgets.
In the fiscal quarter ending in July, net profit of applied materials was US$476 million, and earnings per share were 36 cents, which was better than the same period last year. In the third quarter of fiscal 2010, net profit of applied materials was US$123 million, and earnings per share were 9 cents. Applied materials revenue for the third quarter was $2.79 billion, an increase of 11% over the same period last year. Excluding certain one-time items, Applied Materials' third quarter earnings per share were 35 cents, exceeding Wall Street analysts' previous expectations. According to a Bloomberg survey, analysts expect average application materials to earn 33 cents per share in the third quarter, with revenues of $2.67 billion.
The company’s earnings per share for the fourth quarter of fiscal year 2011 ranged from 16 cents to 24 cents, and its revenue will decline by up to 30% from the third quarter, which means that the lowest price will fall to 1.95 billion US dollars. A Bloomberg survey showed that analysts expected average earnings per application for the fourth quarter of 31 cents, and revenue of $2.55 billion. In July of this year, Applied Materials reiterated its expectation for the semiconductor manufacturing equipment market. It is estimated that this year's total market will reach US$30 billion to US$33 billion, saying that the largest semiconductor manufacturers will stick to their expenditure budgets.
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