Applied Materials’ Profit Triples

Applied Materials Inc.’s profit more than tripled in the fiscal third quarter, beating forecasts, as sales jumped 62% to $1.43 billion. But the semiconductor equipment maker also said that growth in new orders slowed from the previous two quarters. Net income rose to $244.4 million, or 61 cents a share, from $70.6 million, or 19 cents, a year ago, excluding a one-time charge. The results beat the 53-cents-a-share average analyst estimate in a First Call Corp. survey, as well as unpublished estimates that were as high as 58 cents.

Orders, a harbinger of future sales, were up a slight 5% from the second quarter to $1.46 billion. Analysts were expecting $1.45 billion to $1.6 billion in orders, also called bookings. Though orders more than doubled from $608 million a year ago, growth has slipped from sequential increases of 35% and 51% in the fiscal first and second quarters.

Applied Materials released its earnings after the close of regular U.S. trading. Its shares closed up $1.25 at $71.75 on Nasdaq.