Applied Materials reports fourth-quarter profit
Wednesday November 13, 4:06 pm ET
biz.yahoo.com
SANTA CLARA, Calif., Nov 13 (Reuters) - Applied Materials Inc., the dominant semiconductor equipment maker, reported a $147 million quarterly profit on Wednesday as sales of next-generation tools helped reverse a year-earlier loss weighed down by a hefty restructuring charge.
Yet the unrelenting slump in the semiconductor industry caused new orders in the company's fiscal fourth quarter to drop 12 percent to $1.56 billion from the third quarter.
Applied Materials (NasdaqNM:AMAT - News) said it earned $147 million, or 9 cents a share, in the fourth quarter ended Oct. 27, from a loss of $82 million, or 5 cents a share, in the same quarter last year. The year-earlier loss included a $149 million charge related to job cuts and facility closures.
Fourth quarter net sales fell 1 percent from the third quarter to $1.45 billion.
Analysts were expecting a profit in the range of 5 cents to 10 cents a share, with an average estimate of 8 cents, according to market tracker Thomson First Call. The average First Call revenue estimate was $1.47 billion. |
