NEW YORK (CNN/Money) - Applied Materials Inc. said Tuesday that earnings more than tripled in the latest quarter, though new orders dipped.

The biggest maker of chip-making equipment reported net earnings of $289 million, or 17 cents a share, for its fiscal first quarter ended Jan. 30, up from about $82 million, or 5 cents a share, a year earlier. Analysts' forecasts were 16 cents a share for the latest quarter, according to a survey by Thompson First Call.

The company's year-earlier profit was skewed by a one-time $167 million restructuring charge. According to Applied Materials, excluding the charge earnings for that period would have been 12 cents per share.

But new orders dipped nearly 1 percent to $1.68 billion from a year earlier and sank 36 percent from the previous quarter.

"Given the challenging semiconductor environment this past quarter, we are pleased with the company's financial performance," Mike Splinter, president and chief executive officer, said in a statement. "During the quarter, we focused the company on effectively using our resources to improve operational efficiency, lower costs and achieve our profitability goals.

Net sales hit $1.78 billion, up 14 percent, versus forecasts of $1.74 billion.

Applied Materials (Research) shares edged higher in after-hours trading Tuesday after rising about 2 percent in regular trading on Nasdaq.