SANTA CLARA, Calif.--Applied Materials Inc. today reported record net revenues of $1.67 billion in the company's first fiscal quarter, ended Jan. 31, an increase of 125% from $742 million in the same period last year, and 6% higher than $1.57 billion in the previous three-month period. Applied's net income in the first fiscal quarter was $328 million vs. $46 million in the period last year and $307 million in the previous quarter.
"Orders were stronger than expected across all geographic regions and product lines, especially for 0.18 micron and below applications," said James C. Morgan, chairman and chief executive officer of Applied, which also announced a two-for-one stock split today.
Applied Materials reported record new orders of $2.36 billion in the first fiscal quarter, an increased of 43% from $1.65 billion in the previous three month period. Regional distribution of new orders for the first fiscal quarter was 26% in Taiwan, 25% in North America, 14% in Japan, 14% in South Korea, 12% in Europe, and 9% in Southeast Asia, including China.
Applied's backlog at the end of the fiscal quarter increased to $2.34 billion from $1.66 billion at the close of the previous fiscal quarter.