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Applied Materials guides 50% plus increase in sales for FY2010
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Citing strong demand across virtually all its market segments, which include semiconductor, LCD display and crystalline silicon solar, but not thin-film solar, Applied Materials expects FY2010 sales to be over 50% greater than the previous year. Applied had previously guided sales would increase by approximately 30%.Applied reported that its Silicon Systems Group (SSG) received US$1.13 billion in new orders for its FY1Q10 and generated net sales of US$970 million, a 48% sequential increase in net sales.
New order composition was made-up of foundry customers 42%, DRAM 36%, flash 13% and logic and other 9%.
“Applied posted solid first quarter results led by robust sales in our semiconductor equipment business,” said Mike Splinter, Chairman and CEO. “With global demand improving in our customers' end markets, we are raising our full-year revenue target to reflect higher anticipated demand in our semiconductor, LCD display and crystalline silicon solar businesses.”
Net sales for the quarter were US$1.85 billion, up from US$1.53 billion in the previous quarter. Applied's backlog increased by US$200 million to US$2.9 billion, in line with order growth, the company said in its quarterly conference call.