Business Context and Reporting Period
Company: Applied Materials, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: May 18, 2004
Reporting Period: Second fiscal quarter ended May 2, 2004
This filing serves as a notification of the announcement of financial results for the second fiscal quarter. The detailed financial data is contained within the attached press release (Exhibit 99.1) and is not explicitly detailed in the body of this 8-K form.
Key Financial Metrics
The text of this specific 8-K filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are referenced as being available in the attached press release (Exhibit 99.1).
Non-GAAP Measures: The company utilizes a non-GAAP measure of "ongoing results" (net income adjusted to exclude special items). Management states this metric reflects baseline performance exclusive of charges associated with realignment activities and is the primary indicator used for planning and forecasting.
Material Changes
The filing does not contain specific comparative data or material changes versus the prior period. It notes that reconciliations of reported GAAP results to ongoing results are included in the supplement to the press release.
Guidance, Outlook, and Risks
- Management Commentary: Management emphasizes the utility of "ongoing results" for investors due to significant charges incurred in prior periods related to realignment activities.
- Regulatory Disclaimer: The information in this report and the accompanying exhibit shall not be incorporated by reference into any other filing unless expressly stated. The information is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
- Non-GAAP Warning: The company cautions that non-GAAP measures are not in accordance with GAAP and may differ materially from methods used by other companies.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated May 18, 2004) for specific revenue, net income, and earnings per share figures.
- Examine the reconciliation table in the press release to understand the magnitude of "special items" excluded from ongoing results.
- Verify the specific details of "realignment activities" mentioned as the cause for prior period charges.
- Confirm if the press release contains updated forward-looking guidance for the remainder of the fiscal year.