Applied Materials, Inc. (NASDAQ:AMAT) Gets New CEO Amid Declining Sales And Profits


Dallas, Texas 08/19/2013 (Financialstrend) – The famous semi conductor company Applied Materials, Inc. (NASDAQ:AMAT), one of the oldest in the Silicon Valley, has recently named Gary Deckerson as its new Chief Executive Officer (CEO) as the company is trying hard to combat times of tumbling sales and profits.

Dickerson, aged 56, will take up his post with effect from 1st September, 2013. Dickerson at present is the President and will replace Michael Splinter, who has served the post since the year 2003. Dickerson joined the Apllied Materials in the year 2011. The new CEO is expected to consolidate the company’s precision engineering operation and to facilitate growth.

The company manufactures tools for fabrication plants in which chips and memory are manufactured in large scale.

Applied Materials Also Reports Earnings

The company, on Thursday, reported its earnings for the third quarter for the year 2013.

The company has recorded a profit of $168 million which is considerably lower in contrast to the previous year’s third quarter profit of $218 million. The third quarter revenue summed up to a total of $1.98 billion, falling from $2.34 billion in the previous fiscal year.

Orders from factories have been at a low in this quarter however, the company is hopeful that the orders would soon pick up.

Cash Dividends From Applied Materials

Applied Materials, Inc. (NASDAQ:AMAT) has decided to trade ex-dividend for its quarterly dividend of $0.10 payable on 9th December, 2013. This dividend estimates to about 0.64% as a percentage of the company’s recent stock price of $15.67.

Considering the history above ,one can make a rough estimate whether the most recent dividend from AMAT is likely to pursue and if the current estimated yield of 2.55% on annual basis is a genuine anticipation of annual yield going forward.