UPDATE 1-Applied Materials forecast misses estimates
* Sees fourth-qtr adj earnings/share $0.16-$0.20 vs est $0.21
Gary Dickerson to succeed Michael Splinter as CEO
* Third-qtr adj earnings/share $0.18 vs est $0.19
* Third-qtr revenue $1.98 bln vs est $2.06 bln
* Shares down 3.3 pct after market
(Adds estimates, CEO change, result details, background; updates share move)
Aug 15 (Reuters) - Applied Materials, which makes equipment used to manufacture chips, forecast quarterly results below market estimates after third-quarter results missed analysts' expectation as demand fell from the company's foundry customers.
Shares of the company fell 3.3 percent in extended trading on Thursday.
Applied Materials said Michael Splinter, its chief executive of almost 10 years, has stepped down, and named Gary Dickerson his successor.
The company, whose customers include Samsung Electronics Co Ltd and Taiwan Semiconductor Manufacturing Co Ltd (TSMC), forecast fourth-quarter adjusted earnings of 16-20 cents per share.
Applied Materials said it expects net revenue to be little changed from the $1.98 billion it reported in the third quarter.
Analysts on average were expecting for earnings of 21 cents per share on revenue of $2.14 billion, according to Thomson Reuters I/B/E/S.
Applied Material's foundry customers delayed orders in the quarter ended July in anticipation of higher demand for chips made using 20-nanometer (nm) process technology, RBC Capital Markets analyst Mahesh Sanganeria said in a pre-earnings note.
Demand for equipment required to make chips using the next-generation 20-nm process technology, which crams more computing power into smaller micro-circuits, is expected to rise in the second half of this year.
TSMC, the world's top contract chip maker, has been riding on robust demand for its chips made with 28-nm process technology.
Net income fell to $168 million, or 14 cents per share, in the third quarter, from $218 million, or 17 cents per share, a year earlier.
Excluding items, the company, which also provides manufacturing equipment and services for flat panel displays, solar photovoltaic and related industries, earned 18 cents per share.
Revenue fell 16 percent to $1.98 billion in the quarter ended July 28.
Analysts had expected earnings of 19 cents per share on revenue of $2.06 billion.
Applied Materials shares closed at $15.33 on the Nasdaq on Thursday.
(Reporting by Neha Alawadhi and Supantha Mukherjee in Bangalore; Editing by Joyjeet Das)