{"id":22524,"date":"2014-05-16T10:58:41","date_gmt":"2014-05-16T14:58:41","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=22524"},"modified":"2014-05-16T10:58:41","modified_gmt":"2014-05-16T14:58:41","slug":"advanced-materials-inc-nasdaqamat-earns-profit-in-q2","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/advanced-materials-inc-nasdaqamat-earns-profit-in-q2-22524","title":{"rendered":"Advanced Materials, Inc. (NASDAQ:AMAT) Earns Profit In Q2"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/16\/2014 (wallstreetpr) \u2013\u00a0Innovative equipment and services provider, <strong>Advanced Materials, Inc. (NASDAQ:AMAT)<\/strong> announced a profit for the second quarter compared to a loss suffered in the last year quarter as revenue increased 19.3%. However, on an adjusted basis, profit surged 75%.<\/p>\n<p style=\"text-align: justify;\"><b>2Q Results<\/b><\/p>\n<p style=\"text-align: justify;\">The company reported a net profit of $262 million or 21 cents a share for the second quarter compared to a loss of $129 million or a loss of 11 cents a share in the year earlier quarter. On an adjusted basis, after excluding special items, net earnings climbed 75% to $348 million or 28 cents a share from $199 million or 16 cents a share in the year-ago quarter. On average, analysts estimated the company to earn 28 cents a share.<\/p>\n<p style=\"text-align: justify;\">Advanced Materials\u2019 revenue grew 19.3% to $2.35 billion from $1.97 billion in the previous year quarter, which is in line with the Wall Street predictions of $2.349 billion. Its Silicon Systems Group recorded a 6% gain in orders to $1.66 billion, while net sales rose 7% to $1.58 billion. Display orders totaled $340 million compared to $79 million as a result of TV production capacity and net sales fell 8% to $147 million. The other division, Applied Global Services\u2019 net sales grew 5% to $534 million, whereas orders dipped 10%.<\/p>\n<p style=\"text-align: justify;\">Advanced Materials, Inc. (NASDAQ:AMAT)\u00a0disclosed that its gross margin benefited by 50 basis points due to non-recurring items. Its backlog advanced 12% to $2.74 billion sequentially, which includes favorable adjustments of $23 million with regard to EES re-bookings.<\/p>\n<p style=\"text-align: justify;\"><b>Outlook<\/b><\/p>\n<p style=\"text-align: justify;\">Moving ahead, Advanced Materials expect adjusted earnings per share to be 25 \u2013 29 cents for the third quarter. Street analysts are looking for earnings of 27 cents a share for the same period. The company also sees net sales grow about 13% &#8211; 19% over the last year third quarter. Analysts predict Advanced Materials, Inc. (NASDAQ:AMAT)\u00a0to generate revenue growth of 17.6% at $2.32 billion. Sequentially, it expects sales to be flat to minus 5% over the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/16\/2014 (wallstreetpr) \u2013\u00a0Innovative equipment and services provider, Advanced Materials, Inc. (NASDAQ:AMAT) announced a profit for the second quarter compared to a loss suffered [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":22528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6673,855],"stock_ticker":[],"class_list":["post-22524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-advanced-materials-inc-nasdaqamat","tag-nasdaqamat","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Advanced Materials, Inc. 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