Tony
re:Rumor (now true) of AMAT warning?
are you saying that it is not true that amat warned?
Regards
-Albert
04:19pm EST 30-Jan-01 Corporate Release (Carolyn Schwartz 408/748-5227) AMAT
APPLIED MATERIALS` FIRST FISCAL QUARTER 2001 RESULTS TO BE BELOW EXPECTATIONS
SANTA CLARA, Calif.--Applied Materials, Inc. today announced that
it expects its financial results for the first fiscal quarter ending
January 28, 2001 to be below the targets provided during its earnings
conference call on November 15, 2000. Applied Materials will release
its financial results for the first fiscal quarter on February 13,
2001, after the close of the U.S. stock market.
"Demand for semiconductors began to slow late in the fourth
quarter of 2000," said James C. Morgan, chairman and chief executive
officer of Applied Materials. "Inventory buildups in telecommunication
products, slower than expected PC sales and slower global economic
growth are now causing customers to reevaluate their capital spending
plans. Since the beginning of January, a number of our customers have
been revising the timing of their capital spending and rescheduling or
cancelling existing backlog, resulting in the postponement in delivery
of equipment. Therefore, we expect orders and revenue to be below our
original targets."
Revenue is expected to be 7-10 percent below the $2.9 - $2.95
billion revenue target issued by the Company on its November 15, 2000
earnings conference call. First quarter revenue will include only
those 300mm system shipments that have been accepted by customers, and
300mm revenue is in line with original estimates. Due to the expected
revenue shortfall, earnings per share are not expected to reach the
target set by the company. Orders are expected to be below a 1.0 book
to bill ratio for the quarter.
"We will continue to assess the impact of these industry factors
on our business and share our outlook with investors on our February
13, 2001 earnings conference call," concluded Morgan.
This press release contains certain forward-looking statements
that are subject to known and unknown risks and uncertainties that
could cause actual results to differ materially from those expressed
or implied by such statements. In addition to the possible
exacerbation of the factors discussed above, such risks and
uncertainties include, but are not limited to, changes in customer
capacity requirements and demand for semiconductors; changes in the
timing and amount of capital equipment purchases by customers; Applied
Materials' ability to develop new markets and products in a highly
competitive industry characterized by increasingly rapid technological
changes; the risks associated with operating a global business and
other risks described in Applied Materials' filings with the
Securities and Exchange Commission. The Company assumes no obligation
to update the information in this press release. |
