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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (131)	10/29/2001 12:53:56 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Canon's IC-equipment unit reports strong 3Q, but warns of 'rapid drop' in orders for 4Q Semiconductor Business News (10/29/01 12:12 p.m. EST) TOKYO -- Japan's Canon Inc. here today reported strong sales for its chip-equipment operations in the third quarter of this year, but it warned of a "rapid drop" in orders for the fourth period of 2001. In total, Canon reported worldwide sales of $5.7 billion (680.3 billion yen) in the third quarter ended Sept. 31, a 7.6% jump over the like period a year ago. It also reported third-quarter net income of $315 million (37.5 billion yen), or $ 0.36 per share, a year-over-year increase of 4.1%. The company reported $669 million (79.6 billion yen) in sales for its semiconductor-equipment and related products for the third quarter, a 23.1% jump over the like period a year ago. The supplier of lithography tools and other products reported an operating profit of $110 million in its chip-equipment and related operations in the quarter, a 178.8% jump over the year-ago period. "Economic conditions remained weak during the 3rd quarter of 2001," said Toshizo Tanaka, senior managing director and group executive for finance and accounting at Canon. "However, sales of digital copiers, digital cameras, and semiconductor production equipment continued to be strong. Business results were also given a boost by the weaker yen," he said. However, the company warned that business conditions would be weak in the fourth quarter, especially for chip-equipment. "Within the semiconductor-production equipment market, restrained capital investment by chip manufacturers is expected to lead to a rapid drop in orders," according to Canon.