Applied Materials No-Politics Thread (AMAT) Message Board

STOCKTALK

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.

Technology Stocks : Applied Materials No-Politics Thread (AMAT)

AMAT 259.40

+1.2%

3:40 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Proud_Infidel who wrote (6079)	5/13/2003 8:02:57 PM
From: Proud_Infidel	Read Replies (1) of 25522

Applied CFO sees weakness near-term, modest 2H uptick By Peter Clarke Semiconductor Business News (05/13/03 06:18 p.m. EST) SANTA CLARA, Calif. -- Applied Materials chief financial officer Joseph Bronson, said that order activity in the next quarter, Applied's third fiscal quarter, would continue to be volatile and weak. Speaking on a conference call to discuss Applied's second-quarter results, Bronson said revenue in the third quarter will be at or slightly below the second quarter's $1.1 billion. Similarly orders would be flat with the second quarter. “There are 300-mm [wafer equipment] orders that remain pending but its uncertain when that will change,” said Bronson. Bronson added that charges due to the company's restructuring plan were likely to depress or eliminate profits in the third fiscal quarter. Bronson said the charges would be between $50 million and $100 million but depended on what actions were completed within the period. Bronson said capital spending by the chip industry should show a "modest" sequential increase in the second half of the year over the first half. At other points in the conference call analysts encouraged Applied executives to predict a sharp upturn in activity in the second half of the year to which Jim Morgan, who recently became chairman, said: “let's not predict a hockey stick up turn until we see some significant increases.” Morgan pointed out that increased sales had been seen in the second and third quarters of 2002 but an expected rebound for semiconductor equipment markets had then “rolled over”. Morgan has taken the position of chairman making way for Mike Splinter who was recently appointed president and chief executive officer. Applied announced a net loss of $62 million on sales of $1.11 billion in its fiscal second quarter earlier in the day (see May 13 story).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next