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Previous: APPLIED MAGNETICS CORP, 10-Q, 1997-02-11 |
Next: ARIZONA PUBLIC SERVICE CO, SC 13G, 1997-02-11 |
<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) February 11, 1997
APPLIED MATERIALS, INC.
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(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
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)
<PAGE> 2
ITEM 5. OTHER EVENTS
On February 11, 1997, the Company issued a press release announcing
its results of operations for the three months ended January 26, 1997. 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
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<CAPTION>
Exhibit Number Exhibit
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<S> <C>
99.1 Financial Statements attached to Press
Release, dated February 11, 1997, of
Applied Materials, Inc.
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<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: February 11, 1997
APPLIED MATERIALS, INC.
(Registrant)
By: /s/ GERALD F. TAYLOR
--------------------------
Gerald F. Taylor
Senior Vice President and
Chief Financial Officer
<PAGE> 4
EXHIBIT INDEX
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<CAPTION>
Exhibit Number Exhibit
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<S> <C>
99.1 Financial Statements attached to Press Release, dated
February 11, 1997, of Applied Materials, Inc.
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<PAGE> 1
APPLIED MATERIALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
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<CAPTION>
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Three Months Ended
Jan. 26, Jan. 28,
(In thousands, except per share data) 1997 1996
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<S> <C> <C>
Net sales $835,776 $1,040,580
Cost of products sold 464,120 543,780
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Gross margin 371,656 496,800
Operating expenses:
Research, development
and engineering 116,492 110,352
Marketing and selling 66,271 77,282
General and administrative 59,608 49,555
Acquired in-process research
and development 59,500 -
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Income from operations 69,785 259,611
Interest expense 5,800 5,168
Interest income 13,557 9,597
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Income from consolidated companies before taxes 77,542 264,040
Provision for income taxes 47,965 92,414
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Income from consolidated companies 29,577 171,626
Equity in net income/loss of joint venture - -
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Net income $ 29,577 $ 171,626
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Earnings per share $ 0.16 $ 0.93
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Average common shares and
equivalents 185,432 184,001
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</TABLE>
<PAGE> 2
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS*
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<CAPTION>
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Jan. 26, Oct. 27,
(In thousands) 1997 1996
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<S> <C> <C> <C>
ASSETS Current assets:
Cash and cash equivalents $ 369,358 $ 403,888
Short-term investments 697,081 633,744
Accounts receivable, net 765,569 822,384
Inventories 441,681 478,552
Deferred income taxes 279,254 281,586
Other current assets 67,264 72,915
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Total current assets 2,620,207 2,693,069
Property, plant and equipment, net 912,729 919,038
Other assets 245,549 25,880
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Total assets $3,778,485 $3,637,987
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LIABILITIES Current liabilities:
AND Notes payable $ 35,787 $ 77,522
STOCKHOLDERS Current portion of long-term debt 7,585 22,640
EQUITY Accounts payable and
accrued expenses 826,259 791,897
Income taxes payable 133,347 43,168
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Total current liabilities 1,002,978 935,227
Long-term debt 233,677 275,485
Deferred income taxes and
other non-current obligations 109,636 56,850
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Total liabilities 1,346,291 1,267,562
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Stockholders' equity:
Common stock 1,811 1,802
Additional paid-in capital 798,528 763,376
Retained earnings 1,629,141 1,599,564
Cumulative translation adjustments 2,714 5,683
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Total stockholders' equity 2,432,194 2,370,425
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Total liabilities and
stockholders' equity $3,778,485 $3,637,987
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</TABLE>
* Amounts as of January 26, 1997 are unaudited. Amounts as of
October 27, 1996 were obtained from the October 27, 1996 audited
financial statements.
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