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Applied Materials Q4 Profit Down

Applied Materials, Inc. (AMAT) reported that its fourth-quarter net income declined to $698 million or $0.75 per share from $757 million or $0.77 per share in the prior year.

Non-GAAP adjusted earnings per share was $0.80 compared to $0.85 last year.

Net sales for the quarter were $3.75 billion compared to $3.76 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share and revenues of $3.68 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

Looking ahead for the first quarter of fiscal 2020, the company expects Non-GAAP adjusted earnings per share to be in the range of $0.87 to $0.95, and net sales of about $4.10 billion, plus or minus $150 million.

Wall Street currently is looking for first quarter of fiscal 2020 earnings of $0.74 per share on annual revenues of $3.71 billion.

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