Stock Monitor: ChipMOS TECHNOLOGIES Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 22, 2018 / Active-Investors.com has just released a free earnings report on Applied Materials, Inc. (NASDAQ: AMAT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AMAT. Applied Materials reported its first quarter fiscal 2018 operating and financial results on February 14, 2018. The world's largest supplier of tools for chipmakers doubled its quarterly dividend and increased share repurchase authorization by $6.0 billion. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for ChipMOS TECHNOLOGIES INC. (NASDAQ: IMOS), which also belongs to the Technology sector as the Company Applied Materials. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Applied Materials most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=AMAT
Earnings Highlights and Summary
For the three months ended January 28, 2018 (Q1 FY18), Applied Materials' net sales surged 28% to $4.20 billion compared to net sales of $3.28 billion for Q1 FY17. The Company's reported numbers topped analysts' estimates of $4.10 billion.
During Q1 FY18, Applied Materials' GAAP gross margin rose 1.6 points to 45.7%. The Company's non-GAAP gross margin increased 1.3 points to 46.7% in the reported quarter. Applied Materials' operating income soared 48% to $1.20 billion compared to $807 million in Q1 FY17. The Company's non-GAAP operating income advanced 46% to $1.25 billion on a y-o-y basis.
For Q1 FY18, Applied Materials reported GAAP net income of $135 million, or $0.13 per diluted share, compared to earnings of $703 million, or $0.65 per diluted share, in Q1 FY17. The Company's reported quarter earnings declined due to a one-time charge related to recent US tax legislation that reduced earnings by approximately $0.94 per share.
Applied Materials' non-GAAP earnings soared 58% to $1.06 per share, which excluded the charge related to recent US tax legislation compared to earnings of $0.67 per share in Q1 FY17. Additionally, the reported quarter earnings included a benefit of $0.04 per share, driven by recent changes in the US tax legislation. Applied Material's earnings beat Wall Street's estimates of $0.97 per share.
Applied Materials' Segment Results
During Q1 FY18, Applied Materials' Semiconductor net sales jumped 33% to $2.85 billion compared to $2.15 billion in Q1 FY17. The segment's operating income came in at $995 million with an operating margin of 34.9% versus operating income of $690 million and 32.1% in the prior year's comparable quarter.
For Q1 FY18, the Applied Global Services division recorded net sales of $880 million, up 30% compared to $676 million in Q1 FY17. The segment's operating income and margin came at $254 million and 28.9%, respectively, compared to $178 million and 26.3%, respectively for the prior year's corresponding quarter.
During Q1 FY18, the Display and Adjacent Market's revenue totaled $455 million, reflecting growth of 8% compared to $422 million in Q1 FY17. The segment posted operating income of $101 million with operating margin of 22.2% compared to $115 million or 27.3% in the year ago same period.
Cash Matters
During Q1 FY18, Applied Materials increased cash flow from operations by 85% y-o-y to $1.47 billion and returned $888 million to shareholders through dividends of $106 million and $782 million in share repurchases.
Applied Materials' Board of Directors has approved a doubling of the quarterly cash dividend on the Company's common stock to $0.20 per share. The Board declared that a dividend of $0.20 per share will be payable on June 14, 2018, to shareholders of record as of May 24, 2018. The Board also approved a new $6.0 billion share repurchase authorization. This new authorization is incremental to $2.8 billion remaining in the previously approved authorization.
Business Outlook
For the second quarter of fiscal 2018, Applied Materials is forecasting net sales to be in the range of $4.35 billion to $4.55 billion, with the midpoint of the range reflecting growth of approximately 26% on a y-o-y basis. The Company is estimating non-GAAP adjusted earnings to be in the band of $1.10 to $1.18 per share, reflecting an increase of approximately 44% on a y-o-y basis at the midpoint.
Stock Performance Snapshot
March 21, 2018 - At Wednesday's closing bell, Applied Materials' stock climbed 2.62%, ending the trading session at $60.78.
Volume traded for the day: 17.14 million shares, which was above the 3-month average volume of 14.22 million shares.
Stock performance in the last month - up 7.27%; previous three-month period - up 13.82%; past twelve-month period - up 57.54%; and year-to-date - up 18.90%
After yesterday's close, Applied Materials' market cap was at $64.76 billion.
Price to Earnings (P/E) ratio was at 16.95.
The stock has a dividend yield of 0.66%.
The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry.
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