<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------------------------------------------------------
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) August 12, 1997
------------------
APPLIED MATERIALS, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-6920 94-1655526
- -------------------------------------------------------------------------------
(State or other jurisdiction (Commission File Number) (IRS employer
of Incorporation) identification
number)
3050 Bowers Avenue, Santa Clara, California 95054-3299
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 727-5555
---------------
Inapplicable
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5. OTHER EVENTS
On August 12, 1997, the Company issued a press release announcing its
results of operations for the three and nine months ended July 27, 1997. A copy
of the financial statements attached to the press release is filed as Exhibit
99.1 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
<TABLE>
<CAPTION>
Exhibit Number Exhibit
-------------- -------
<S> <C>
27 Financial Data Schedule (filed electronically)
99.1 Financial Statements attached to Press
Release, dated August 12, 1997, of Applied
Materials, Inc.
</TABLE>
<PAGE> 3
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: August 12, 1997
APPLIED MATERIALS, INC.
(Registrant)
By: /s/Gerald F. Taylor
-------------------------
Gerald F. Taylor
Senior Vice President and
Chief Financial Officer
<PAGE> 4
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Number Exhibit
-------------- -------
<S> <C>
27 Financial Data Schedule: filed electronically
99.1 Financial Statements attached to Press
Release, dated August 12, 1997, of Applied
Materials, Inc.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED JULY 27, 1997 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-26-1997
<PERIOD-END> JUL-27-1997
<CASH> 213,064
<SECURITIES> 890,659
<RECEIVABLES> 988,463
<ALLOWANCES> 46,157
<INVENTORY> 608,988
<CURRENT-ASSETS> 3,045,519
<PP&E> 1,449,120
<DEPRECIATION> 481,939
<TOTAL-ASSETS> 4,249,419
<CURRENT-LIABILITIES> 1,231,363
<BONDS> 228,095
0
0
<COMMON> 1,823
<OTHER-SE> 2,671,776
<TOTAL-LIABILITY-AND-EQUITY> 4,249,419
<SALES> 2,793,879
<TOTAL-REVENUES> 2,793,879
<CGS> 1,509,310
<TOTAL-COSTS> 1,509,310
<OTHER-EXPENSES> 854,066
<LOSS-PROVISION> 16,318
<INTEREST-EXPENSE> 15,586
<INCOME-PRETAX> 521,792
<INCOME-TAX> 203,453
<INCOME-CONTINUING> 318,339
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 318,339
<EPS-PRIMARY> 1.70
<EPS-DILUTED> 1.70
</TABLE>
<PAGE> 1
Exhibit 99.1
APPLIED MATERIALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
- --------------------------------------------------------------------------------------------------------
July 27, July 28, July 27, July 28,
(In thousands, except per share amounts) 1997 1996 1997 1996
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Net sales $1,057,241 $1,115,424 $2,793,879 $3,283,859
Cost of products sold 558,345 583,448 1,509,310 1,713,792
---------- ---------- ---------- ----------
Gross margin 498,896 531,976 1,284,569 1,570,067
Operating expenses:
Research, development and engineering 143,880 128,262 392,345 363,532
Marketing and selling 81,191 82,882 222,427 240,751
General and administrative 60,569 64,758 179,794 169,133
Bad debt expense 16,318 -- 16,318 --
Acquired in-process research and
development -- -- 59,500 --
---------- ---------- ---------- ----------
Income from operations 196,938 256,074 414,185 796,651
Income from litigation settlement 80,000 -- 80,000 --
Interest expense 4,851 4,812 15,586 14,897
Interest income 15,038 8,839 43,193 28,265
---------- ---------- ---------- ----------
Income from consolidated companies
before taxes 287,125 260,101 521,792 810,019
Provision for income taxes 100,494 91,035 203,453 283,506
---------- ---------- ---------- ----------
Income from consolidated companies 186,631 169,066 318,339 526,513
Equity in net income/(loss) of joint venture -- -- -- --
---------- ---------- ---------- ----------
Net income $ 186,631 $ 169,066 $ 318,339 $ 526,513
---------- ---------- ---------- ----------
Earnings per share $ 0.98 $ 0.92 $ 1.70 $ 2.86
---------- ---------- ---------- ----------
Average common shares and equivalents 189,609 183,359 187,770 183,780
- --------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS*
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------
July 27, Oct. 27,
(In thousands) 1997 1996
- ---------------------------------------------------------------------------
<S> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 213,064 $ 403,888
Short-term investments 890,659 633,744
Accounts receivable, net 942,306 822,384
Inventories 608,988 478,552
Deferred income taxes 285,066 281,586
Other current assets 105,436 72,915
---------- ----------
Total current assets 3,045,519 2,693,069
Property, plant and equipment, net 967,181 919,038
Other assets 236,719 25,880
---------- ----------
Total assets $4,249,419 $3,637,987
---------- ----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable $ 21,001 $ 77,522
Current portion of long-term debt 10,681 22,640
Accounts payable and accrued expenses 994,293 791,897
Income taxes payable 205,388 43,168
---------- ----------
Total current liabilities 1,231,363 935,227
Long-term debt 228,095 275,485
Deferred income taxes and other liabilities 116,362 56,850
---------- ----------
Total liabilities 1,575,820 1,267,562
---------- ----------
Stockholders' equity:
Common stock 1,823 1,802
Additional paid-in capital 752,217 763,376
Retained earnings 1,917,903 1,599,564
Cumulative translation adjustments 1,656 5,683
---------- ----------
Total stockholders' equity 2,673,599 2,370,425
---------- ----------
Total liabilities and stockholders' equity $4,249,419 $3,637,987
</TABLE>
- ---------------------------------------------------------------------------
* Amounts as of July 27, 1997 are unaudited. Amounts as of October 27, 1996
were obtained from the October 27, 1996 audited financial statements.
