Applied Materials Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Applied Materials Inc. (AMAT), the global leader in manufacturing solutions for the semiconductor, display and solar industries, reported first-quarter net income of $253 million or $0.21 per share, compared to $34 million or $0.03 per share, last year. Non-GAAP adjusted net income was $279 million or $0.23 per share, for the quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.19 billion, compared to $1.57 billion, a year ago. Analysts expected revenue of $2.13 billion for the quarter.

For the second quarter of fiscal 2014, Applied Materials expects non-GAAP adjusted earnings per share to be in the range of $0.25 to $0.29. Analysts expect the company to report second-quarter earnings per share of $0.27.