APPLIED MATERIALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED) |
|
|
|
|
|
|
(Unaudited)*
Three Months Ended |
|
Fiscal Year Ended |
|
(In thousands, except per share amounts) |
|
October 26,
1997 |
|
October 27,
1996 |
|
October 26,
1997 |
|
October 27,
1996 |
|
Net sales |
|
$ |
1,280,396 |
|
$ |
860,958 |
|
$ |
4,074,275 |
|
$ |
4,144,817 |
Cost of products sold |
|
664,040 |
|
|
481,286 |
|
|
2,173,350 |
|
|
2,195,078 |
|
|
|
|
|
|
|
|
|
Gross margin |
|
616,356 |
|
|
379,672 |
|
|
1,900,925 |
|
|
1,949,739 |
|
Operating expenses: |
|
Research, development and engineering |
|
|
175,267 |
|
|
117,862 |
|
|
567,612 |
|
|
481,394 |
|
Marketing and selling |
|
91,954 |
|
|
72,880 |
|
|
314,381 |
|
|
313,631 |
|
General and administrative |
|
72,420 |
|
|
56,930 |
|
|
252,214 |
|
|
226,063 |
|
Bad debt expense |
|
-- |
|
|
-- |
|
|
16,318 |
|
|
-- |
|
Acquired in-process
research and development |
|
-- |
|
|
-- |
|
|
59,500 |
|
|
-- |
|
Restructuring |
|
-- |
|
|
25,100 |
|
|
-- |
|
|
25,100 |
|
|
|
|
|
|
|
|
|
|
Income from operations |
|
|
276,715 |
|
|
106,900 |
|
|
690,900 |
|
|
903,551 |
|
Income/(expense) from litigation settlements |
|
|
(11,000) |
|
|
-- |
|
|
69,000 |
|
|
-- |
|
Interest expense |
|
|
5,119 |
|
|
5,836 |
|
|
20,705 |
|
|
20,733 |
Interest income |
|
|
16,533 |
|
|
11,353 |
|
|
59,726 |
|
|
39,618 |
|
|
|
|
|
|
|
|
|
|
Income from consolidated
companies before taxes |
|
|
277,129 |
|
|
112,417 |
|
|
798,921 |
|
|
922,436 |
|
Provision for income taxes |
|
|
96,994 |
|
|
39,345 |
|
|
300,447 |
|
|
322,851 |
|
|
|
|
|
|
|
|
|
|
Income from consolidated companies |
|
|
180,135 |
|
|
73,072 |
|
|
498,474 |
|
|
599,585 |
|
Equity in net income/(loss) of joint venture |
|
|
-- |
|
|
-- |
|
|
-- |
|
|
-- |
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
180,135 |
|
$ |
73,072 |
|
$ |
498,474 |
|
$ |
599,585 |
|
|
|
|
|
|
|
|
|
|
Earnings per share ** |
|
$ |
0.47 |
|
$ |
0.20 |
|
$ |
1.32 |
|
$ |
1.63 |
|
|
|
|
|
|
|
|
|
|
Average common shares
and equivalents ** |
|
|
382,775 |
|
|
365,398 |
|
|
377,838 |
|
|
367,214 |
|
* Results of operations for the three months ended October
26, 1997 and October 27, 1996 are unaudited. Results of operations for the fiscal years
presented have been audited.
** Retroactively restated to reflect a two-for-one stock split in the form of a 100
percent stock dividend, effective October 13, 1997. |
|