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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (5696)	11/14/2001 4:18:44 PM
From: Softechie	Read Replies (1) \| Respond to of 99280

AMAT missed by 1 cent. Profits down 97%... Applied Materials' 4th-qtr profit plunges 97 pct SANTA CLARA, Calif., Nov 14 (Reuters) - Applied Materials Inc. (NasdaqNM:AMAT - news) on Wednesday reported fiscal fourth-quarter profits that plunged more than 90 percent, but the world's biggest maker of semiconductor-manufacturing equipment signaled that sequential declines in orders may be nearing an end. ADVERTISEMENT For the quarter ended Oct. 28, Santa Clara, California-based Applied Materials reported a loss of $82 million, or 10 cents a share, compared with year-ago net income of $664 million, or 77 cents, a year ago. Sales fell to $1.26 billion from $2.92 billion -- in line with its earlier forecast. Excluding certain one-time items, Applied said it would have earned $22 million, or 3 cents a share. On that basis, analysts polled by research firm Thomson Financial/First Call were expecting per-share profits of 4 cents, within a range of 1 cent to 8 cents, on sales of $1.24 billion. Applied said it has implemented Staff Accounting Bulletin No. 101 (SAB 101), ``Revenue Recognition in Financial Statements,'' for the fourth fiscal quarter of 2001, retroactively effective to the beginning of fiscal 2001. Accordingly, the first three fiscal quarters of 2001 have been restated, the company said. Fiscal 2000 amounts have not been restated. Shares of Applied fell 9 cents to $40.71 before the results were released, which came after the close of regular U.S. trading. The shares have risen about 2 percent this year, compared with an approximate decline of 9 percent in the Philadelphia Semiconductor Index, a proxy for the sector. biz.yahoo.com