Applied generated orders of $2.00 billion, down 12 percent from the prior quarter as a seasonal decline in foundry bookings was partially offset by growth in memory and logic orders along with higher bookings in the Display Group and Applied Global Services. Silicon Systems Group orders were $1.20 billion, down 22 percent, due to a decrease in foundry orders, partially offset by increases in memory and logic orders. Net sales of $1.27 billion declined 1 percent. Display orders were $256 million, up 31 percent led by a recovery in TV equipment demand. Gross margin was 42.9 percent on a non-GAAP adjusted basis, down slightly from 43.2 percent in the prior quarter.
"Consumers' appetite for mobile devices and larger TVs is driving healthy demand for our semiconductor and display equipment...We are seeing stronger investment by our memory customers, and our display business booked its highest orders in over two years."
The company announced that its Board of Directors has appointed Gary E. Dickerson as president and chief executive officer (CEO) and Michael R. Splinter as executive chairman of the Board of Directors, effective September 1, 2013. Mr. Dickerson also was elected a member of the Board of Directors, effective at the same time. Mr. Dickerson is currently president of Applied Materials and succeeds Mr. Splinter who has served as the Company's CEO since 2003.