8-KOther Events

APPLIED MATERIALS INC /DE 8-K Report (Nov 12, 2003)

Filed November 12, 2003For Securities:AMAT

Summary

Applied Materials, Inc. (AMAT) filed an 8-K on November 12, 2003, to announce its financial results for the fourth fiscal quarter and the full fiscal year ended October 26, 2003. The primary purpose of this filing is to provide investors with the company's performance, including a pro forma measure of net income that excludes costs associated with realignment activities. Management utilizes this pro forma net income as a key indicator for planning and forecasting, believing it offers a more meaningful comparison to prior periods by presenting baseline performance before restructuring charges. Investors are encouraged to review the accompanying press release (Exhibit 99.1) for detailed financial data and reconciliations of GAAP to pro forma measures, as these non-GAAP figures are presented as supplemental information and may differ from similar measures used by other companies.

Key Highlights

  • 1Filed an 8-K on November 12, 2003, to report Q4 and full fiscal year 2003 financial results.
  • 2Announced financial results for the period ended October 26, 2003.
  • 3Included a press release (Exhibit 99.1) with detailed financial results.
  • 4Utilized a pro forma measure of net income, excluding costs associated with realignment activities.
  • 5Management uses pro forma net income as a primary indicator for planning and forecasting.
  • 6The company believes pro forma net income facilitates meaningful comparison with prior periods.
  • 7Reconciliations of GAAP to pro forma amounts are provided in the press release.

Frequently Asked Questions

This 8-K filing serves to officially announce Applied Materials, Inc.'s financial results for the fourth fiscal quarter and the full fiscal year ended October 26, 2003, and to provide investors with access to the company's press release containing these results.

Pro forma net income is a non-GAAP financial measure that adjusts GAAP net income to exclude costs associated with realignment activities. Applied Materials uses this measure to provide a baseline performance view and facilitate comparisons with prior periods, as management considers it a key indicator for planning and forecasting.

The detailed financial results and the reconciliation of reported GAAP net income to the pro forma net income are included in the press release issued by Applied Materials on November 12, 2003, which is attached as Exhibit 99.1 to this 8-K filing.

No, the pro forma net income is a non-GAAP financial measure. While it is presented as supplemental information, it is not prepared in accordance with GAAP and may differ from similar measures used by other companies. Investors should also consider the GAAP-reported results.