Applied Materials Announces $3 Billion Share Repurchase Authorization
April 27 2015 - 2:16AM
SANTA CLARA, Calif., April 26, 2015
-- Applied Materials, Inc. (NASDAQ: AMAT) today announced that
its Board of Directors has approved a new share repurchase program
authorizing up to $3 billion in repurchases over the next three
years beginning in the third quarter of fiscal 2015.
"We are pleased to announce this new share
repurchase program," said Gary Dickerson, president and chief
executive officer of Applied Materials. "This program reflects our
confidence in our performance and opportunities as well as our
strong commitment to shareholder returns."
Forward-Looking
Statements:
This press release contains forward-looking statements, including
those regarding Applied's performance, opportunities, financial
position and capital allocation strategy. These statements and
their underlying assumptions are subject to known and unknown risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements,
including but not limited to: the level of demand for Applied's
products, which is subject to many factors, including uncertain
global economic and industry conditions, end-demand for electronic
products and semiconductors, and customers' new technology and
capacity requirements; the timing and nature of technology
transitions; the concentrated nature of Applied's customer base;
Applied's ability to (i) develop, deliver and support a broad range
of products and expand its markets, (ii) achieve the objectives of
operational and strategic initiatives, (iii) obtain and protect
intellectual property rights in key technologies, (iv) attract,
motivate and retain key employees, and (v) accurately forecast
future results, which depends on multiple assumptions related to,
without limitation, market conditions, customer requirements and
business needs; and other risks described in Applied's SEC filings,
including its most recent Form 10-Q. All forward-looking statements
are based on management's estimates, projections and assumptions as
of the date hereof. Applied undertakes no obligation to update any
forward-looking statements.
Applied Materials, Inc. (Nasdaq:AMAT) is the
global leader in precision materials engineering solutions for the
semiconductor, flat panel display and solar photovoltaic
industries. Our technologies help make innovations like
smartphones, flat screen TVs and solar panels more affordable and
accessible to consumers and businesses around the world. Learn more
at www.appliedmaterials.com.
# # #
Contact:
Kevin Winston (editorial/media) 408.235.4498
Michael Sullivan (financial community) 408.986.7977
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Applied Materials via Globenewswire
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