Silicon Investor (SI) -- The First Internet Community

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.

Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: lindelgs who wrote (28359)	8/9/2000 5:02:57 PM
From: Sully-	Read Replies (1) \| Respond to of 35685

Top Financial News Wed, 09 Aug 2000, 4:49pm EDT Applied Materials 3rd-Qtr Profit Surges; Orders Reach $3.28 Bln By Cesca Antonelli Santa Clara, California, Aug. 9 (Bloomberg) -- Applied Materials Inc., the biggest semiconductor-equipment maker, said fiscal third-quarter profit more than doubled as customers bought more tools to crank out chips for computers and cell phones. Net income rose to $603.8 million, or 70 cents a share, from $238.3 million, or a split-adjusted 29 cents, a year earlier. Sales in the quarter ended July 30 jumped 83 percent to $2.73 billion from $1.49 billion. As Taiwan Semiconductor Manufacturing Co. and other chipmakers rush to add capacity, they're snapping up production gear as fast as equipment makers can ship it. New orders at Applied -- which sells machines that handle three-quarters of the chip-manufacturing process -- rose to $3.28 billion, topping the company's target of more than $3 billion. ``There are still aggressive plans out there,'' said Wit SoundView analyst Mike O'Brien. ``The (contract manufacturers) are still spending. A lot of the U.S. logic manufacturers are still spending. The Japanese are starting to come back in.'' The Santa Clara, California-based company was expected to earn 68 cents a share, the average estimate of analysts polled by First Call/Thomson Financial. Forecasts reached as high as 74 cents. Applied shares rose 1 9/16 to 72 1/8 on the Nasdaq Stock Market before the report. They've lost 37 percent of their value since touching a high of 115 in April. quote.bloomberg.com