Applied Materials Sees FY 2010 Sales Up At Least 30% (AMAT)

From Tech Trader Daily:

Applied Materials (AMAT) CEO Michael Splinter told investors on a post-earnings conference call this afternoon that the company expects to grow revenues at least 30% in the October 2010 fiscal year. That suggests revenue for the year of at least $6.5 billion, ahead of the Street consensus of $6.2 billion.

On the call, CFO George Davis said the company sees FY Q1sales up 10%-25% sequentially, which implies $1.68 billion to $1.91 billion, well above the Street consensus at $1.4 billion, with EPS of 10-14 cents a share before charges, above the Street at 5 cents. The company sees GAAP EPS of or 4-8 cents.

• Splinter sees the semiconductor segment growing revenues at least 40% for the year, with worldwide spending on chipmaking gear of $18 billion to $20 billion in calendar 2010, up from $12 billion to $13 billion in 2009. He said the company gained market share in FY ‘09, and should make further gains in FY 2010.
• In display, Splinter says the industry should see spending up more than 40% in calendar 2010.
• In the solar sector, AMAT says the industry “showed signs of improvement” in Q4 as module price declines slowed and financing improved. He says the company’s energy and environmental services segment is on track for break-even or better operating results for the year. EES sales overall are expected to plus or minus 10% from 2009 levels....MORE