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Politics : Formerly About Applied Materials

AMAT 254.72

+0.9%

Dec 1 3:59 PM EST

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To: Henry Eichorszt who wrote (30320)	5/18/1999 9:26:00 PM
From: Proud_Infidel	Read Replies (2) of 70976

Misc CC Notes: * James Morgan, on DRAM: "likely to be a shortage in 2000"; he also mentioned that demand tends to build in the fall * Joe Bronson: "business continued to improve throughout the quarter"; "largest quarterly revenue growth in the company's history" * Significant .18 and .25 µ orders * .25µ and below now majority of all systems shipped * .18µ at 38% of all systems shipped for Q2 * DRAM in Q2 represented 28% of all systems shipped in Q2 compared with 38% for Q1 (parenthetical note added by myself: this is the concern of the SSB analyst who downgraded yesterday......however, in the past 4 years, DRAM as a % of revs, has been between 22% and 42%.....being that this is the low end of the range, there is not too much cause for concern IMHO, especially since communications are making up a growing % of chips) * Of the $1.36B backlog, there was 60M in backlog adjustments for Q2(cancellations) * Generated 93M in cash in Q2 to bring the Cash total to $2.02B(Another parenthetical note: no mention of share repurchase in this call) * R&D $166.1M= 14.9% of revs...lower than Q2FY98 b/c of 300mm, or in this case, the lack of it * Net income grew nearly 3 fold on a 51% increase in revenue * "Japanese activity seems to be picking up" * 26 customers had orders in excess of $10M for Q2; of these, 5 were in excess of $50M, and 2 in excess of $100M * DSL=75 days (down from Q1) * Capital spending= $70M Guidance for Q3FY99 * Revs of 1.3-1.35B * GM's in the "high 40's" * EPS of .50-.54/share

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