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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 14, 1996
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APPLIED MATERIALS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-6920 94-1655526
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(State or other jurisdiction (Commission File Number) (IRS employer
of Incorporation) identification
number)
3050 Bowers Avenue, Santa Clara, California 95054-3299
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 727-5555
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Inapplicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On May 14, 1996, the Company issued a press release announcing its
results of operations for the three and six month periods, ended on April 28,
1996, of fiscal year 1996. A copy of the financial statements attached to the
press release is attached hereto as Exhibit 99.1 and incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
Exhibit Number Exhibit
99.1 Financial Statements attached to Press
Release, dated May 14, 1996, of Applied
Materials, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: May 14, 1996
APPLIED MATERIALS, INC.
(Registrant)
By: \s\ Gerald F. Taylor
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Gerald F. Taylor
Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit Number Exhibit
99.1 Financial Statements attached to Press
Release, dated May 14, 1996, of Applied
Materials, Inc.
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May 14, 1996
Page 3
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
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April 28, April 30, April 28, April 30,
(In thousands, except per share data) 1996 1995 1996 1995
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<S> <C> <C> <C> <C>
Net sales $1,127,855 $675,439 $2,168,435 $1,181,547
Costs and expenses:
Cost of products sold 586,564 370,429 1,130,344 638,525
Research, development
and engineering 124,918 73,393 235,270 133,389
Marketing and selling 80,587 51,901 157,869 96,046
General and administrative 54,820 34,822 104,375 66,640
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Income from operations 280,966 144,894 540,577 246,947
Interest expense 4,917 5,881 10,085 11,634
Interest income 9,829 5,040 19,426 9,983
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Income from consolidated companies before
taxes 285,878 144,053 549,918 245,296
Provision for income taxes 100,057 50,418 192,471 85,853
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Income from consolidated companies 185,821 93,635 357,447 159,443
Equity in net income/loss of joint venture -- -- -- --
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Net income $ 185,821 $ 93,635 $ 357,447 $ 159,443
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Earnings per share $ 1.01 $ 0.54 $ 1.94 $ 0.92
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Average common shares and
equivalents 183,699 173,406 183,921 173,010
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</TABLE>
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May 14, 1996
Page 4
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS*
<TABLE>
<CAPTION>
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April 28, Oct. 29,
(In thousands) 1996 1995
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<S> <C> <C>
ASSETS Current assets:
Cash and cash equivalents $ 199,993 $ 285,845
Short-term investments 442,405 483,487
Accounts receivable, net 1,020,737 817,730
Inventories 556,584 427,413
Deferred income taxes 196,277 198,888
Other current assets 84,227 98,250
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Total current assets 2,500,223 2,311,613
Property, plant and equipment, net 808,547 630,746
Other assets 25,047 23,020
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Total assets $3,333,817 $2,965,379
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LIABILITIES Current liabilities:
AND Notes payable $ 48,465 $ 61,748
STOCKHOLDERS' Current portion of long-term debt 22,497 21,064
EQUITY Accounts payable and
accrued expenses 778,886 659,572
Income taxes payable 36,099 119,347
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Total current liabilities 885,947 861,731
Long-term debt 282,156 279,807
Deferred income taxes and
other non-current obligations 49,611 40,338
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Total liabilities 1,217,714 1,181,876
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Stockholders' equity:
Common stock 1,794 1,792
Additional paid-in capital 747,338 760,057
Retained earnings 1,357,426 999,979
Cumulative translation adjustments 9,545 21,675
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Total stockholders' equity 2,116,103 1,783,503
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Total liabilities and
stockholders' equity $3,333,817 $2,965,379
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</TABLE>
* Amounts as of April 28, 1996 are unaudited. Amounts as of October
29, 1995 were obtained from the October 29, 1995 audited financial
statements.
