November 15, 2001
Technology Briefing
nytimes.com
HARDWARE EQUIPMENT MAKER REPORTS A LOSS Applied Materials (news/quote), the world's largest supplier of chip-making equipment, posted a fourth-quarter loss and warned that it might do so again this quarter, as chip companies delayed orders for new tools. Applied Materials lost $82 million, or 10 cents a share, on sales of $1.26 billion, and said it expected revenue to decline to about $1 billion this quarter. Excluding a $149 million restructuring charge, the company earned 3 cents a share, a penny less than analysts had expected. Adopting an accounting rule that revises the timing of the recognition of revenue, the company restated its sales and earnings for the entire year, making comparisons with the 2000 results difficult. During the fourth quarter last year, the company earned 77 cents a share on sales of $2.92 billion. James C. Morgan, above, the chief executive, said the economic downturn had led to delays in the introduction of new chip-making technologies just as the industry needs them most.
Chris Gaither (NYT) |
