8-KOther Events

APPLIED MATERIALS INC /DE 8-K Report (May 18, 2004)

Filed May 18, 2004For Securities:AMAT

Summary

Applied Materials Inc. (AMAT) filed an 8-K on May 18, 2004, announcing its financial results for the second fiscal quarter ended May 2, 2004. The primary purpose of this filing is to furnish the press release detailing these results. Investors should note that the company is presenting both GAAP and non-GAAP financial measures, with the non-GAAP figures excluding special items related to realignment activities. Applied Materials emphasizes that its non-GAAP "ongoing results" are considered by management as a key indicator for planning and forecasting, aiming to provide a clearer view of baseline performance exclusive of realignment charges. The company explicitly states that these non-GAAP measures are not a substitute for GAAP reporting and may differ from other companies' non-GAAP approaches. Investors are advised to review the reconciliations provided in the press release to understand the differences between GAAP and non-GAAP performance.

Key Highlights

  • 1Announcement of financial results for the second fiscal quarter ended May 2, 2004.
  • 2Inclusion of a press release dated May 18, 2004, as Exhibit 99.1, containing the detailed financial results.
  • 3Presentation of both GAAP and non-GAAP financial measures.
  • 4Emphasis on "ongoing results" (non-GAAP) which exclude special items from realignment activities.
  • 5Management uses non-GAAP "ongoing results" as a primary indicator for planning and forecasting.
  • 6Disclaimer stating non-GAAP measures are not a substitute for GAAP and may differ from other companies' reporting.
  • 7Information is furnished, not filed, for SEC liability purposes under specific sections of the Securities Act and Exchange Act.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide Applied Materials' financial results for the second fiscal quarter ended May 2, 2004, by attaching the related press release as an exhibit.

Applied Materials is presenting both Generally Accepted Accounting Principles (GAAP) financial measures and non-GAAP financial measures. The non-GAAP measures are referred to as 'ongoing results' and exclude special items related to realignment activities.

Applied Materials believes that its non-GAAP 'ongoing results' are useful to investors because they reflect baseline performance exclusive of charges associated with realignment activities. Management uses these ongoing results as a primary indicator for planning and forecasting future periods.

Investors should be aware that the non-GAAP measures are not in accordance with, or an alternative for, GAAP. They may differ materially from non-GAAP methods used by other companies, and the presentation should not be considered a substitute for net income prepared in accordance with GAAP. Reconciliations between GAAP and non-GAAP results are provided in the press release.