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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jay Lyons who wrote (20023)	8/17/1999 5:33:00 PM
From: Souze	Read Replies (1) \| Respond to of 43080

AMAT blew away its numbers: 61 cents vs 53 cent estimated. No position, but I traded it today. Reuters, Tuesday, August 17, 1999 at 16:24 SAN FRANCISCO, Aug. 17 (Reuters) - Applied Materials Inc. (NASDAQ:AMAT) on Tuesday reported a third-quarter profit that far surpassed analyst forecasts as sales at the world's largest maker of semiconductor equipment surged 62 percent. The company had net income for the quarter ended Aug. 1 of $244.4 million, or 61 cents a share, up from $70.6 million, or 19 cents a share, a year ago. The results topped the 53 cents a share analysts were expecting, according to First Call/Thompson, which tracks such figures. Sales were $1.43 billion, up from $884 million in the year ago quarter and were 28 percent higher than $1.12 billion in the second quarter. New orders in the quarter rose 140 percent to a record $1.46 billion from $608 million a year ago and climbed 5 percent from $1.39 billion in the second quarter. The results from Applied confirm that the semiconductor industry is rebounding from its worst slump ever, which was sparked by the Asian economic crisis and a glut of certain types of semiconductors. "Our customers are experiencing the early stages of a broad-based recovery, fueled by low inventories and strong demand across all product categories, with particular strength in communications and consumer electronic products," said James Morgan, Applied Chairman in a statement. Applied stock climbed $1.25 to close at $71.75 on the Nasdaq, far above its year-low of $21.56. The company reported the results after the close of regular U.S. trading. Copyright 1999, Reuters News Service Companies or Securities discussed in this article: Symbol