1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________________________________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 11, 1997 APPLIED MATERIALS, INC. ----------------------- (Exact name of registrant as specified in its charter) Inapplicable - ------------------------------------------------------------------------------ (Former name or former address, if changed since last report)
Delaware 0-6920 94-1655526 - -------------------------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS employer of Incorporation) identification number) 3050 Bowers Avenue, Santa Clara, California 95054-3299 - -------------------------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (408) 727-5555 ------------- 2 ITEM 5. OTHER EVENTS On February 11, 1997, the Company issued a press release announcing its results of operations for the three months ended January 26, 1997. A copy of the financial statements attached to the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits
Exhibit Number Exhibit -------------- ------- 99.1 Financial Statements attached to Press Release, dated February 11, 1997, of Applied Materials, Inc. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 11, 1997 APPLIED MATERIALS, INC. (Registrant) By: /s/ GERALD F. TAYLOR -------------------------- Gerald F. Taylor Senior Vice President and Chief Financial Officer 4 EXHIBIT INDEX
Exhibit Number Exhibit - -------------- ------- 99.1 Financial Statements attached to Press Release, dated February 11, 1997, of Applied Materials, Inc.
1 APPLIED MATERIALS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
- ------------------------------------------------------------------------------------------- Three Months Ended Jan. 26, Jan. 28, (In thousands, except per share data) 1997 1996 - ------------------------------------------------------------------------------------------- Net sales $835,776 $1,040,580 Cost of products sold 464,120 543,780 --------- ---------- Gross margin 371,656 496,800 Operating expenses: Research, development and engineering 116,492 110,352 Marketing and selling 66,271 77,282 General and administrative 59,608 49,555 Acquired in-process research and development 59,500 - --------- ---------- Income from operations 69,785 259,611 Interest expense 5,800 5,168 Interest income 13,557 9,597 --------- ---------- Income from consolidated companies before taxes 77,542 264,040 Provision for income taxes 47,965 92,414 --------- ---------- Income from consolidated companies 29,577 171,626 Equity in net income/loss of joint venture - - --------- ---------- Net income $ 29,577 $ 171,626 --------- ---------- Earnings per share $ 0.16 $ 0.93 --------- ---------- Average common shares and equivalents 185,432 184,001 - ------------------------------------------------------------------------------------------- 2 APPLIED MATERIALS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS* * Amounts as of January 26, 1997 are unaudited. Amounts as of October 27, 1996 were obtained from the October 27, 1996 audited financial statements.
- -------------------------------------------------------------------------------------------------- Jan. 26, Oct. 27, (In thousands) 1997 1996 - -------------------------------------------------------------------------------------------------- ASSETS Current assets: Cash and cash equivalents $ 369,358 $ 403,888 Short-term investments 697,081 633,744 Accounts receivable, net 765,569 822,384 Inventories 441,681 478,552 Deferred income taxes 279,254 281,586 Other current assets 67,264 72,915 ---------- ---------- Total current assets 2,620,207 2,693,069 Property, plant and equipment, net 912,729 919,038 Other assets 245,549 25,880 ---------- ---------- Total assets $3,778,485 $3,637,987 ---------- ---------- LIABILITIES Current liabilities: AND Notes payable $ 35,787 $ 77,522 STOCKHOLDERS Current portion of long-term debt 7,585 22,640 EQUITY Accounts payable and accrued expenses 826,259 791,897 Income taxes payable 133,347 43,168 ---------- ---------- Total current liabilities 1,002,978 935,227 Long-term debt 233,677 275,485 Deferred income taxes and other non-current obligations 109,636 56,850 ---------- ---------- Total liabilities 1,346,291 1,267,562 ---------- ---------- Stockholders' equity: Common stock 1,811 1,802 Additional paid-in capital 798,528 763,376 Retained earnings 1,629,141 1,599,564 Cumulative translation adjustments 2,714 5,683 ---------- ---------- Total stockholders' equity 2,432,194 2,370,425 ---------- ---------- Total liabilities and stockholders' equity $3,778,485 $3,637,987 - ----------------------------------------------------------------------------------------------------