Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 297.52

-6.6%

3:59 PM EST

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To: GuinnessGuy who wrote (4488)	5/14/1997 8:37:00 AM
From: Xpiderman	of 70976

08:30 ET ****** APPLIED MATERIALS INC. (AMAT) 60 7/16 CLOSED. Supplier of wafer fabrication systems and services to the global semiconductor industry posted better-than-expected fiscal 2nd qtr results which helped the issue trade higher in after hours trading last night. The company earned 2nd qtr profits of $0.54 a share, four cents above the First Call mean estimate, but well below the year-ago net of $1.01 a share. Sales in the latest period also dipped 20.1% to $900.9 million, but were 7.8% higher than 1st qtr sales of $835.8 million. The company reported that new orders of $1.0 billion were booked during the second fiscal quarter of 1997, down from $1.3 billion during the second fiscal quarter of 1996, but up from $904.7 million in the first fiscal quarter and its backlog rose to $1.5 billion at the end of the current fiscal quarter, up $100 million sequentially. Gross margin improved to 46% from 44.5% in the 1st qtr In addition, the company reported that it received a semiconductor equipment order from Taiwan Semiconductor Manufacturing Co., Ltd. totaling $182 million for Applied Materials' advanced semiconductor production systems. The majority of this order was booked in the 2nd qtr quarter with portions of the order being also booked in the prior quarter as well as in the upcoming quarter. Delivery of the systems will take place throughout the rest of the fiscal year. Latest results should be measured against expectations and sequential performance as everyone already knows the problems this sector has experienced through much of the past year and, accordingly the stock price had reflected this condition. The fact that the company appears to have turned the corner and is returning to its prior growth pattern bodes well for the stock price. Yet, issue is up around 68% since the beginning of the year, when the stock was at a well oversold level.

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