1
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
- ----------------------------------------------------------------------------------------------
Three Months Ended
Jan. 28, Jan. 29,
(In thousands, except per share data) 1996 1995
- ---------------------------------------------------------------- ------------ -------------
Net sales $ 1,040,580 $ 506,108
------------ -------------
Costs and expenses:
Cost of products sold 543,780 268,096
Research, development and engineering 110,352 59,996
Marketing and selling 77,282 44,145
General and administrative 49,555 31,818
------------ -------------
Income from operations 259,611 102,053
Interest expense 5,168 5,582
Interest income 9,597 4,772
------------ -------------
Income from consolidated companies before taxes 264,040 101,243
Provision for income taxes 92,414 35,435
------------ -------------
Income from consolidated companies 171,626 65,808
Equity in net income/loss of joint venture -- --
------------ -------------
Net income $ 171,626 $ 65,808
------------ -------------
Earnings per share $ 0.93 $ 0.38
------------ -------------
Average common shares and
equivalents 184,001 172,616
- ----------------------------------------------------------------------------------------------
2
APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS*
-----------------------------------------------------------------------------------------
JAN. 28, OCT. 29,
(In thousands) 1996 1995
-----------------------------------------------------------------------------------------
ASSETS Current assets:
Cash and cash equivalents $ 266,880 $ 285,845
Short-term investments 545,725 483,487
Accounts receivable, net 932,297 817,730
Inventories 479,662 427,413
Deferred income taxes 196,783 198,888
Other current assets 83,330 98,250
---------- ----------
Total current assets 2,504,677 2,311,613
Property, plant and equipment, net 713,730 630,746
Other assets 24,104 23,020
---------- ----------
Total assets $3,242,511 $2,965,379
---------- ----------
LIABILITIES Current liabilities:
AND Notes payable $ 58,844 $ 61,748
STOCKHOLDERS' Current portion of long-term debt 22,492 21,064
EQUITY Accounts payable and
accrued expenses 757,063 659,572
Income taxes payable 131,174 119,347
---------- ----------
Total current liabilities 969,573 861,731
Long-term debt 279,576 279,807
Deferred income taxes and
other non-current obligations 50,162 40,338
---------- ----------
Total liabilities 1,299,311 1,181,876
---------- ----------
Stockholders' equity:
Common stock 1,794 1,792
Additional paid-in capital 753,048 760,057
Retained earnings 1,171,605 999,979
Cumulative translation adjustments 16,753 21,675
---------- ----------
Total stockholders' equity 1,943,200 1,783,503
---------- ----------
Total liabilities and
stockholders' equity $3,242,511 $2,965,379
- ------------------------------------------------------------------------------------------
*Amounts as of January 28, 1996 are unaudited. Amounts as of October 29,
1995 were obtained from the October 29, 1995 audited financial statements.