How screwed up is this release. Got spin?
Applied Materials (AMAT) reported a fiscal first quarter net loss of $45 million, or 6 cents a share, on revenue of $1 billion. During the same quarter last year, net income was $156.8 million, or 19 cents a share, on revenue of $2.36 billion. Excluding charges from the latest quarter, net income would have been $15 million, or 2 cents a share. Analysts surveyed by Thomson Financial/First Call expected breakeven earnings, excluding charges, on revenue of $1.01 billion, on average. "While we believe that industry conditions remain challenging in the short-term, we are somewhat encouraged by orders for the new technologies," said CEO Jim Morgan, according to a statement.
There is no way to call this good news. I have no position and don't care about news. I love "net income would have been". Oh really? All one can do is shake one's head. |
