1
Exhibit 99.1
APPLIED MATERIALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Fiscal Year Ended
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October 27, October 29, October 27, October 29,
(In thousands, except per share data) 1996 1995 1996 1995
---- ---- ---- ----
Net sales $ 860,958 $ 982,650 $4,144,817 $3,061,881
Cost of products sold 481,286 524,252 2,195,078 1,652,033
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Gross margin 379,672 458,398 1,949,739 1,409,848
Operating expenses:
Research, development
and engineering 117,862 110,498 481,394 329,676
Marketing and selling 72,880 64,730 313,631 223,296
General and administrative 56,930 49,562 226,063 162,944
Restructuring 25,100 -- 25,100 --
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Income from operations 106,900 233,608 903,551 693,932
Interest expense 5,836 4,240 20,733 21,401
Interest income 11,353 9,706 39,618 26,012
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Income from consolidated companies before
taxes 112,417 239,074 922,436 698,543
Provision for income taxes 39,345 83,676 322,851 244,490
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Income from consolidated companies 73,072 155,398 599,585 454,053
Equity in net income/loss of joint venture -- -- -- --
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Net income $ 73,072 $ 155,398 $ 599,585 $ 454,053
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Earnings per share $ 0.40 $ 0.84 $ 3.27 $ 2.56
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Average common shares and
equivalents 182,699 184,425 183,607 177,348
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APPLIED MATERIALS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
October 27, October 29,
(In thousands) 1996 1995
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ASSETS Current assets:
Cash and cash equivalents $ 403,888 $ 285,845
Short-term investments 633,744 483,487
Accounts receivable, net 822,384 817,730
Inventories 478,552 427,413
Deferred income taxes 281,586 198,888
Other current assets 72,915 98,250
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Total current assets 2,693,069 2,311,613
Property, plant and equipment, net 919,038 630,746
Other assets 25,880 23,020
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Total assets $3,637,987 $2,965,379
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LIABILITIES Current liabilities:
AND Notes payable $ 77,522 $ 61,748
STOCKHOLDERS' Current portion of long-term debt 22,640 21,064
EQUITY Accounts payable and
accrued expenses 791,897 659,572
Income taxes payable 43,168 119,347
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Total current liabilities 935,227 861,731
Long-term debt 275,485 279,807
Deferred income taxes and
other non-current obligations 56,850 40,338
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Total liabilities 1,267,562 1,181,876
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Stockholders' equity:
Common stock 1,802 1,792
Additional paid-in capital 763,376 760,057
Retained earnings 1,599,564 999,979
Cumulative translation adjustments 5,683 21,675
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Total stockholders' equity 2,370,425 1,783,503
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Total liabilities and
stockholders' equity $3,637,987 $2,965,379
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