Here's what analysts said about Applied's results for fiscal Q4:

Edwin Mok, an analyst at Needham & Co. LLC:

''Applied reported strong F4Q09 results with higher guidance. We believe it was largely expected by the buy-side given the substantial rebound of semi equipment industry. In addition, display was strong and is expected to grow substantially in the coming year.

However, despite strong demand for c-Si solar equipment this year, Applied provided a cautious outlook for the solar sector. We believe slower growth in solar will limit revenue rebound of the overall business. As a result, Applied is underperforming semi equipment peers at this juncture of the cycle, even with the new restructuring plan that should streamline operations and cut costs.''

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C.J. Muse, an analyst at Barclays Capital:

''As widely expected, results and guidance came in better than consensus. Big picture, the 35 percent sequential growth to top line was led by improved foundry spend, better utilizations across semi customers, FPD pull-in, and revenue from the ENN Sunfab (solar line).

But restructuring (was) slightly underwhelming, which limits estimates. While we applaud management's focus on profitability, we see January quarter EPS guide combined with actual cost savings as likely a bit disappointing to the Street.

For the January quarter, management guided overall revenues to grow 10-25 percent Q/Q to (about) $1.7-1.9 billion, exceeding both our estimate of $1.63 billion and consensus of $1.42 billion. Specific to each business, management guided SSG (Silicon Solutions Group) to grow at least 20 percent, AGS (Applied Global Services) to grow modestly, display to decline Q/Q, and for EES (Energy and Environmental Solutions) to grow by at least 20 percent.

We believe that Silicon orders will be dominated by Nanya/Inotera, TSMC, UMC, Samsung and Hynix.''