Boston, MA 05/23/2014 (wallstreetpr) – Innovative equipment, services and software provider, Applied Materials, Inc. (NASDAQ:AMAT) announced its intention of participating in investors’ conference to be held in the current as well as next month in San Francisco and New York. The company may reiterate its earnings forecast during the conference.
Investors’ Conference
The Applied Materials, Inc. (NASDAQ:AMAT) disclosed that its senior vice president and CFO Robert Halliday will attend investors’ conference to be conducted by Cowen and Company Technology conference on May 28. It will be a question and answer session and is available on audio webcast. Applied Materials will also be participating in Bank of America Merrill Lynch Global Technology Conference to be held on June 3 at San Francisco commencing from 12.14 p.m. Eastern Time or 9.15 a.m. Pacific Time.
Outlook
While releasing second quarter results recently, the company said that it expects adjusted earnings for the third quarter in the range of 25 – 29 cents a share representing a growth of 39% – 61%. Revenue for the same quarter is predicted between flat to minus 5% from the second quarter and grow about 13% – 19% from the previous year quarter. On average, Wall Street analysts expect the company to earn 27 cents a share on revenue uptick of 15.8% over the last year quarter.
2Q Results
Applied Materials, Inc. (NASDAQ:AMAT) reported net income of $262 million or 21 cents a share for the second quarter compared to a net loss of $129 million or a loss of 11 cents a share in the year-ago quarter. On an adjusted basis, net income increased to $482 million or 28 cents a share from $285 million or 16 cents a share in the year earlier quarter. Street analysts estimated the company to earn 28 cents a share.
Net sales grew 19.3% to $2.35 billion from $1.97 billion in the previous year quarter. This fell marginally short of analysts’ predictions of $2.36 billion. The company’s backlog advanced 12% to $2.74 billion sequentially as a result of EES re-bookings.
