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UPDATE 1-Applied Materials quarterly results exceed estimates

Noel Randewich
Thursday, 14 Nov 2013 | 4:21 PM ET

SAN FRANCISCO, Nov 14 (Reuters) - Top chip gear-maker Applied Materials posted fiscal fourth-quarter revenue that modestly exceeded expectations as foundry customers build new production lines to make more advanced components.

In a report on Thursday, Applied Materials said it had a net profit for the quarter ended in October of $183 million, or 15 cents a share, compared with a net loss of $515 million, or 42 cents, in the same quarter last year.

Excluding items, the company earned 19 cents a share in the fourth quarter. Analysts on average expected EPS of 18 cents, according to Thomson Reuters I/B/E/S

The company reported fourth-quarter revenue of $1.99 billion, up from $1.65 billion in the year-ago period.

For the current quarter, Applied Materials said it expects revenue to rise between 3 percent and 10 percent from the fourth quarter, the midpoint of which is about $2.12 billion. It said it expects non-GAAP adjusted diluted EPS between 20 cents and 24 cents.

Analysts had expected fourth-quarter revenue of $1.974 billion and first-quarter revenue of $2.193 billion.

Shares of Applied Materials rose 0.51 percent in extended trade after closing down 0.62 percent at $17.56 on Nasdaq.

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