Applied Materials Fourth Quarter EPS of $.36

Applied Materials, Inc. AMAT today reported stronger than expected results for its fourth quarter of fiscal 2010 ended Oct. 31, 2010. Applied generated orders of $3.03 billion, net sales of $2.89 billion, operating profit of $699 million, and net income of $468 million or $0.35 per share. Non-GAAP net income was $476 million or $0.36 per share. For fiscal year 2010, the company reported orders of $10.25 billion, net sales of $9.55 billion, operating profit of $1.38 billion, and net income of $938 million or $0.70 per share. Non-GAAP net income was $1.18 billion, or $0.88 per share. The fiscal year results included EES inventory-related charges of $330 million that lowered EPS by approximately $0.16. Excluding these charges, non-GAAP EPS would have been $1.03.