Applied generated revenue of $3.75 billion. On a GAAP basis, the company recorded gross margin of 44.4%, operating income of $908 million or 24.2% of net sales, and earnings per share (EPS) of $0.80.
On a non-GAAP adjusted basis, the company reported gross margin of 44.6%, operating income of $925 million or 24.6% of net sales, and EPS of $0.81.
The company returned $942 million to shareholders, including $750 million in share repurchases and dividends of $192 million.
“Applied Materials delivered solid first quarter results in a challenging business environment,” said Gary Dickerson, president and CEO. “As we navigate the current market dynamics, we remain highly optimistic about the long term and are investing in new technology, products and capabilities that position the company to play a bigger and broader role in the industry’s future.”
In the second quarter of fiscal 2019, Applied expects net sales to be in the range of $3.33 billion to $3.63 billion. Non-GAAP adjusted diluted EPS is expected to be in the range of $0.62 to $0.70.