SANTA CLARA, Calif., Oct. 12, 2022 (GLOBE NEWSWIRE) — Applied Materials, Inc. is revising its business outlook for the fourth quarter of fiscal 2022, ending Oct. 30, 2022.
On Oct. 7, 2022, the United States authorities introduced new export laws for U.S. semiconductor know-how bought in China, together with wafer fabrication tools and associated components and providers. Applied presently estimates that the brand new laws will cut back its fourth-quarter web gross sales by roughly $400 million, plus or minus $150 million.
Applied is revising its fourth-quarter business outlook for web gross sales to roughly $6.4 billion, plus or minus $250 million, which compares to the prior outlook of $6.65 billion, plus or minus $400 million. The revised web gross sales outlook displays the influence of the brand new export laws partially offset by provide chain efficiency enhancements.
Applied now expects fourth-quarter non-GAAP adjusted diluted EPS to be within the vary of $1.54 to $1.78, which compares to the prior vary of $1.82 to $2.18. The revised EPS outlook consists of the influence of decrease anticipated income together with a preliminary estimated influence of roughly $0.23 primarily for stock and remanufacturing fees associated to the brand new export laws.
Applied is pursuing further export licenses and authorizations the place wanted. The firm presently expects the brand new laws will influence web gross sales within the first quarter of fiscal 2023 by an identical quantity as within the present quarter. Additional info shall be offered through the firm’s subsequent earnings webcast.
Applied Materials is a world business with clients, suppliers and operations positioned in lots of international locations all over the world. Applied’s business relies on worldwide commerce, and the corporate is dedicated to complying with all relevant commerce laws.
Forward-Looking Statements
This press launch incorporates forward-looking statements, together with these concerning our business and monetary outlook for the fourth quarter of fiscal 2022 and past, the influence of new export laws on our means to export merchandise and supply providers to clients and on our outcomes of operations, our intent to hunt further licenses pursuant to new export laws, and different statements that aren’t historic information. These statements and their underlying assumptions are topic to dangers and uncertainties and should not ensures of future efficiency. Factors that might trigger precise outcomes to vary materially from these expressed or implied by such statements embrace, with out limitation: the extent of demand for our merchandise, our means to satisfy buyer demand, and our suppliers’ means to satisfy our demand necessities; international financial, political and trade situations; the interpretation and implementation of new export laws and license necessities in addition to accounting guidelines; international commerce points and modifications in commerce and export laws and insurance policies; our means to acquire licenses or authorizations on a well timed foundation, if in any respect; transportation interruptions and logistics constraints; the results of regional or international well being epidemics; client demand for digital merchandise; the demand for semiconductors; clients’ know-how and capability necessities; the introduction of new and progressive applied sciences, and the timing of know-how transitions; our means to develop, ship and help new merchandise and applied sciences; the concentrated nature of our buyer base; our means to precisely forecast future outcomes, market situations, buyer necessities and business wants; our means to make sure compliance with relevant regulation, guidelines and laws; and different dangers and uncertainties described in our SEC filings, together with our current Forms 10-Q and 8-Ok. All forward-looking statements are primarily based on administration’s present estimates, projections and assumptions, and we assume no obligation to replace them.
Non-GAAP Financial Measures
This outlook for non-GAAP adjusted diluted EPS excludes recognized fees associated to accomplished acquisitions of $0.01 per share, consists of the normalized tax profit of share-based compensation of $0.02 per share and features a web earnings tax profit associated to intra-entity intangible asset transfers of $0.03 per share, however doesn’t mirror any objects which are unknown at the moment, equivalent to any further fees associated to acquisitions or different non-operational or uncommon objects, in addition to different tax associated objects, which we aren’t capable of predict with out unreasonable efforts resulting from their inherent uncertainty.
About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the chief in supplies engineering options used to supply nearly each new chip and superior show on the planet. Our experience in modifying supplies at atomic ranges and on an industrial scale allows clients to remodel prospects into actuality. At Applied Materials, our improvements make doable a greater future. Learn extra at www.appliedmaterials.com.
Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (monetary neighborhood) 408.986.7977
