Applied sees order uptick in Q1, Q2, says report
Silicon Strategies
02/10/2004, 3:55 PM ET
NEW YORK--Following renewed order strength in the chip-equipment marketplace, Applied Materials Inc. ended its first fiscal quarter on a high note, according to a report from Needham & Co. Inc.
"Our best estimate is for the company to report a modest upside to Q1 orders guidance of $1.54 billion, coming in at $1.6 billion to $1.65 billion," according to the report from the New York-based investment banking firm. Applied is set to report its first quarter results on Feb. 18.
The current quarter is strong as well. "We expect April quarter order guidance will be better than industry norms, reflecting approximately 20 percent order growth to $1.9 billion to $2 billion. Though this number is below some of the expectations set on the street, we expect the company to leave itself some room to deliver upside," according to the report.
"We believe performance has been particularly exceptional in dielectric CVD, where market share gains have been realized in both standard dielectric CVD as well as low-k dielectric," it added.
In fiscal Q4 of 2003, Applied said sales were $1.22 billion, up 12 percent from $1.09 billion for the third fiscal quarter of 2003, and down 16 percent from $1.45 billion for the fourth fiscal quarter of 2002. Net income for the fourth fiscal quarter of 2003 was $15 million, or $0.01 per share, compared to a loss of $37 million, or $0.02 per share, for the third fiscal quarter of 2003, and down from net income of $147 million, or $0.09 per share, for the fourth fiscal quarter of 2002.
New orders of $1.28 billion for the fourth fiscal quarter of 2003 increased 21 percent from $1.05 billion for the third fiscal quarter of 2003, and decreased 18 percent from $1.56 billion for the fourth fiscal quarter of 2002.
In the first fiscal quarter a year ago, Applied said sales were $1.05 billion, down 27 percent from $1.45 billion for the fourth fiscal quarter of 2002, and up five percent from $1.0 billion for the first fiscal quarter of 2002. The net loss for the first fiscal quarter of 2003 was $66 million, or $0.04 per share, down from net income of $147 million, or $0.09 per diluted share, for the fourth fiscal quarter of 2002, and down from a net loss of $45 million, or $0.03 per share, reported for the first fiscal quarter of 2002.
New orders of $1.02 billion for the first fiscal quarter of 2003 decreased 35 percent from $1.56 billion for the fourth fiscal quarter of 2002, and decreased nine percent from $1.12 billion for the first fiscal quarter of 2002. |
