Business Context and Reporting Period
Company: Applied Materials, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: August 12, 2003
Reporting Period: Third fiscal quarter ended July 27, 2003
This filing announces the financial results for the third fiscal quarter of 2003. The detailed results are contained in a press release attached as Exhibit 99.1, which is referenced but not fully reproduced in the text of this 8-K.
Key Financial Metrics
The text of this 8-K filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are located in the attached press release (Exhibit 99.1) and are not included in the body of this document.
Material Changes and Non-GAAP Measures
Applied Materials utilizes a pro forma (non-GAAP) measure of net income to supplement GAAP results. This measure excludes costs associated with realignment activities. Management states that due to the significant costs incurred with realignment activities, the pro forma measure facilitates meaningful comparison with prior periods and serves as the primary indicator for planning and forecasting.
Guidance, Outlook, and Risks
Management Commentary: Management emphasizes that pro forma net income reports baseline performance before realignment costs. Reconciliations between GAAP and pro forma amounts are included in the attached press release.
Legal 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 and is not subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and earnings per share figures for the quarter ended July 27, 2003.
- Examine the reconciliation table in the press release to understand the magnitude of realignment costs excluded from pro forma net income.
- Verify year-over-year and quarter-over-quarter comparisons in the full press release, as this 8-K does not contain historical data.
- Confirm the company's forward-looking guidance, which is detailed in the press release rather than this summary filing.