Business Context and Reporting Period
Company: Applied Materials, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: February 18, 2004
Reporting Period: First fiscal quarter ended February 1, 2004
This filing announces the financial results for the first fiscal quarter of 2004. 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 present in the provided source text.
Non-GAAP Disclosure: The company utilizes a pro forma net income measure to supplement GAAP results. This measure excludes costs associated with realignment activities to facilitate meaningful comparison with prior periods and serves as the primary indicator for management planning.
Material Changes
The filing does not explicitly detail material changes in financial metrics versus the prior comparable period within the body text. It notes that the pro forma measure is used to adjust for realignment activity costs, implying these costs were a significant factor in the period's performance, but specific comparative data is absent from this document.
Guidance, Outlook, and Risks
Management Commentary: Management states that pro forma net income is the primary indicator used to plan and forecast future periods. The company believes this measure reports baseline performance before realignment costs.
Accounting Risks/Contingencies: The filing includes a standard disclaimer that non-GAAP measures are neither in accordance with GAAP nor an alternative to it. It warns that these measures may differ materially from methods used by other companies and should not be considered a substitute for GAAP net income.
Legal Disclaimer: The information in this report and the exhibit 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 February 1, 2004.
- Verify the reconciliation between GAAP net income and pro forma net income to understand the magnitude of realignment activity costs.
- Confirm the specific details of the "realignment activities" mentioned as the basis for the non-GAAP adjustment.
- Check subsequent filings for any updates to the guidance or outlook mentioned in the press release.