Printed Electronics Now staff11.17.20
Applied Materials, Inc. reported results for its fourth quarter and fiscal year ended Oct. 25, 2020.
Applied generated revenue of $4.69 billion. On a GAAP basis, the company recorded a gross margin of 45.4%, operating income of $1.28 billion or 27.4% of net sales, and earnings per share (EPS) of $1.23.
On a non-GAAP adjusted basis, the company reported a gross margin of 45.7%, operating income of $1.33 billion or 28.3% of net sales, and EPS of $1.25.
The company generated $1.32 billion in cash from operations and returned $250 million to shareholders including $200 million in dividends and $50 million in share repurchases.
Full Year Results
In fiscal 2020, Applied generated revenue of $17.20 billion. On a GAAP basis, the company recorded a gross margin of 44.7%, operating income of $4.37 billion or 25.4% of net sales, and EPS of $3.92.
On a non-GAAP adjusted basis, the company reported a gross margin of 45.1%, operating income of $4.53 billion or 26.3% of net sales, and EPS of $4.17.
The company generated a record $3.80 billion in cash from operations, paid dividends of $787 million and used $649 million to repurchase 12 million shares of common stock.
“Applied Materials closed fiscal 2020 with record quarterly performance as demand for our semiconductor systems and services remains very strong,” said Gary Dickerson, president and CEO. “Our future opportunities have never looked better and, as powerful technology trends take shape, we are uniquely positioned to accelerate our customers’ roadmaps and outperform our markets.”
In the first quarter of fiscal 2021, Applied expects net sales to be approximately $4.95 billion, plus or minus $200 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.20 to $1.32.
This outlook for non-GAAP adjusted diluted EPS excludes known charges related to completed acquisitions of $0.01 per share and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.03 per share, but does not reflect any items that are unknown at this time.