SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Applied Materials
AMAT 322.51+6.1%Feb 6 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Demosthenes who wrote (46836)5/16/2001 12:08:38 PM
From: Proud_Infidel  Read Replies (2) of 70976
 
Wednesday May 16, 12:00 pm Eastern Time
RESEARCH ALERT - J.P. Morgan lowers Applied Materials
NEW YORK, May 16 (Reuters) - J.P. Morgan said on Wednesday that it lowered earnings per share estimates on Applied Materials Inc. (NasdaqNM:AMAT - news), a maker of semiconductor equipment, in 2001 to 41 cents from $1.38, citing customer cancellations from weak demand.

Applied Materials reported a drop in net income for the quarter ended April 29 to $226.7 million or 27 cents a share from $468.9 million or 54 cents a share a year ago.

Applied Materials earned $269 million or 32 cents excluding unusual items this year, but that was a cent shy of consensus estimates.

``Customer order cancellations continue, amounting to $303 million in the quarter,'' analyst Eric Chen said. As a result, net bookings declined 53 percent from the prior quarter to $1.05 billion and that led to a book to bill ratio of 0.56 to 1.

Chen is maintaining a long term buy rating on the stock, but cutting second-quarter forecasts to $1.2 billion in revenues and a break even results and 2001 sales of $5.6 billion and earnings per share of 41 cents.

Previously, Chen expected Applied Materials to earn $23 cents a share in the second quarter on sales of $1.5 billion and post full year sales of $6.6 billion, he said in a research note.

Applied Materials closed at $49.89 on May 15.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News