Applied Materials Reports Q1 Revs In Line, EPS a Penny Light

Applied Materials (AMAT) reported revenue for its fiscal first quarter ended January 27 of $2.09 billion, a tad ahead of the Street at $2.01 billion. EPS of 19 cents a share were a penny lighter than the Street forecast, as gross margin inched down to 44.8%, from 46.7% a year ago, and 45.5% in the fiscal fourth quarter ended October.

Orders in the quarter were $2.5 billion, down 2% year over year, but up 13% sequentially. As the Street expected, the company had strong orders in its display products and thin-film solar segments. The company had forecast orders in the quarter to be down 5%-15%.

The company will provide FY Q2 guidance on its upcoming conference call.

In the regular session, AMAT was down 36 cents, or 2%, at $18.07.