Applied Materials Tech Chief Says Baccini Deal To Lift EPS

Applied Materials Inc.'s (AMAT) deal to acquire Baccini for $330 million will lift cash earnings in the first year and GAAP earnings in the second year, Mark Pinto, chief technology officer of Applied, told Dow Jones in an interview.

Baccini's revenue this year "will be quite a bit higher" than in 2006, he added.

Pinto said the Italian firm agreed to be acquired because, like other privately held European players in the solar field, it needs more investment capital.

"They are choosing different paths, some IPO, some private equity and some being acquired," Pinto said. "Most of the companies aren't doing this to cash out."

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- Posted: 2007-11-19 10:13:08

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