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Politics : Formerly About Applied Materials

AMAT 322.51

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Feb 6 9:30 AM EST

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To: Kirk © who wrote (36085)	7/27/2000 6:57:06 PM
From: Proud_Infidel	of 70976

Semiconductors a bright spot as Matsushita's sales stay flat Semiconductor Business News (07/27/00, 06:51:22 PM EDT) OSAKA, Japan -- Although Matsushita Electric Industrial Co. Ltd. chalked updouble-digit sales growth in semiconductors, liquid crystal display panels, and electric motors, revenue dipped 3% in consumer products and increased only 2% in industrial products. As a result, consolidated sales at the Osaka-based conglomerate edged up just 1% from the same period last year, to $16.72 billion. Due to a drop in non-operating profit during the quarter ended June 30, the company's net income slipped 2% from the same period last year, to $89 million. But Matsushita's first-quarter operating profit increased 48% year-over-year, to $200 million, as cost-reduction efforts and sales gains in components offset the negative effects of declining prices and the yen's appreciation.

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