Press release
Applied Materials Announces Fourth Quarter and Fiscal Year 2020 Results
Record quarterly revenue of $4.69 billion, up 25 percent year over yearRecord quarterly GAAP EPS of $1.23 and non-GAAP EPS of $1.25, up 64 percent and 56
About this update from Applied Materials, Inc.
[{"type":"text","content":"Record quarterly revenue of $4.69 billion, up 25 percent year over yearRecord quarterly GAAP EPS of $1.23 and non-GAAP EPS of $1.25, up 64 percent and 56 percent year over year, respectively Generated record annual cash from operations of $3.80 billion SANTA CLARA, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its fourth quarter and fiscal year ended Oct. 25, 2020.\n Fourth Quarter Results Applied generated revenue of $4.69 billion. On a GAAP basis, the company recorded gross margin of 45.4 percent, operating income of $1.28 billion or 27.4 percent of net sales, and earnings per share (EPS) of $1.23. On a non-GAAP adjusted basis, the company reported gross margin of 45.7 percent, operating income of $1.33 billion or 28.3 percent 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 gross margin of 44.7 percent, operating income of $4.37 billion or 25.4 percent of net sales, and EPS of $3.92. On a non-GAAP adjusted basis, the company reported gross margin of 45.1 percent, operating income of $4.53 billion or 26.3 percent 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.” Results Summary Change Q4 FY2020 Q4 FY2019 FY2020 FY2019Q4 FY2020 vs. Q4 FY2019 FY2020 vs. FY2019 (In millions, except per share amounts and percentages)Net sales$4,688 $3,754 $17,202 $14,608 25% 18%Gross margin45.4 % 43.5 % 44.7 % 43.7 %1.9 points 1.0 pointsOperating margin27.4 % 23.0 % 25.4 % 22.9 %4.4 points 2.5 pointsNet income$1,131 $698 $3,619 $2,706 62% 34%Diluted earnings per share$1.23 $0.75 $3.92 $2.86 64...