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 report) February 13, 1996 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 of (Commission File Number) (IRS employer identification number) Incorporation) 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 13, 1996, the Company issued a press release announcing its results of operations for the first quarter, ending on January 28, 1996, of fiscal year 1996. A copy of the financial statements attached to the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. From time to time, the Company will make "forward-looking statements" about its prospects for the future. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the following: o Growth in Semiconductor Demand. If growth in the demand for semiconductors were too slow, whether caused by slowing economic growth, slowing productivity or other factors, demand for semiconductor fabrication equipment would probably slow as well. o Competitive Challenges. If any of the Company's competitors were to develop products or services which are more cost-effective or technically superior, demand for the Company's equipment could slow. o Ability to Hire and Assimilate New Employees. Continued rapid growth in the demand for semiconductors could create difficulties in hiring a sufficient number of qualified personnel, especially in areas requiring technical expertise, and create difficulties in assimilating new employees, thereby slowing the rate at which such employees increase their productivity. ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. The following exhibits are filed as exhibits to the Company's registration statement on Form S-3 (File No. 33-60301):
Exhibit Number Exhibit -------------- ------- 99.1 Financial Statements attached to Press Release, dated February 13, 1996, 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 13, 1996 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 13, 1996, of Applied Materials, Inc.
1 APPLIED MATERIALS, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
- ---------------------------------------------------------------------------------------------- Three Months Ended Jan. 28, Jan. 29, (In thousands, except per share data) 1996 1995 - ---------------------------------------------------------------- ------------ ------------- Net sales $ 1,040,580 $ 506,108 ------------ ------------- Costs and expenses: Cost of products sold 543,780 268,096 Research, development and engineering 110,352 59,996 Marketing and selling 77,282 44,145 General and administrative 49,555 31,818 ------------ ------------- Income from operations 259,611 102,053 Interest expense 5,168 5,582 Interest income 9,597 4,772 ------------ ------------- Income from consolidated companies before taxes 264,040 101,243 Provision for income taxes 92,414 35,435 ------------ ------------- Income from consolidated companies 171,626 65,808 Equity in net income/loss of joint venture -- -- ------------ ------------- Net income $ 171,626 $ 65,808 ------------ ------------- Earnings per share $ 0.93 $ 0.38 ------------ ------------- Average common shares and equivalents 184,001 172,616 - ---------------------------------------------------------------------------------------------- 2 APPLIED MATERIALS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS* *Amounts as of January 28, 1996 are unaudited. Amounts as of October 29, 1995 were obtained from the October 29, 1995 audited financial statements.
----------------------------------------------------------------------------------------- JAN. 28, OCT. 29, (In thousands) 1996 1995 ----------------------------------------------------------------------------------------- ASSETS Current assets: Cash and cash equivalents $ 266,880 $ 285,845 Short-term investments 545,725 483,487 Accounts receivable, net 932,297 817,730 Inventories 479,662 427,413 Deferred income taxes 196,783 198,888 Other current assets 83,330 98,250 ---------- ---------- Total current assets 2,504,677 2,311,613 Property, plant and equipment, net 713,730 630,746 Other assets 24,104 23,020 ---------- ---------- Total assets $3,242,511 $2,965,379 ---------- ---------- LIABILITIES Current liabilities: AND Notes payable $ 58,844 $ 61,748 STOCKHOLDERS' Current portion of long-term debt 22,492 21,064 EQUITY Accounts payable and accrued expenses 757,063 659,572 Income taxes payable 131,174 119,347 ---------- ---------- Total current liabilities 969,573 861,731 Long-term debt 279,576 279,807 Deferred income taxes and other non-current obligations 50,162 40,338 ---------- ---------- Total liabilities 1,299,311 1,181,876 ---------- ---------- Stockholders' equity: Common stock 1,794 1,792 Additional paid-in capital 753,048 760,057 Retained earnings 1,171,605 999,979 Cumulative translation adjustments 16,753 21,675 ---------- ---------- Total stockholders' equity 1,943,200 1,783,503 ---------- ---------- Total liabilities and stockholders' equity $3,242,511 $2,965,379 - ------------------------------------------------------------------------------------------