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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62909)	4/18/2002 2:10:31 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Lam Research Has 3rd-Qtr Profit After Predicting Loss (Update2) By Todd J. Shriber quote.bloomberg.com Fremont, California, April 17 (Bloomberg) -- Lam Research Corp., which makes tools that build semiconductor circuits, said it had a fiscal third-quarter profit after forecasting a loss earlier this year. Net income in the quarter ended March 31 fell to $1.57 million, or 1 cent a share, from $65.1 million, or 48 cents a year earlier. Sales fell 65 percent to $164.1 million from $465.1 million, the company said in a statement. Customers, hurt by falling demand for their own products, reduced spending last year amid the U.S. recession. Lam said orders began to pick up in its third quarter and the revenue will be booked in this period. Lam's products are used to deposit film on a silicon wafer and create circuit designs. ``Orders looked good and that's the number everyone's looking at,'' said Banc of America Securities analyst Mark FitzGerald, who rates Fremont, California-based Lam ``buy'' and doesn't own the shares. ``I also give management an A-plus for cost-reducing measures.''