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

To: Kirk © who wrote (5261)	1/31/2003 11:43:57 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

S&P comments on Applied Materials Corp Friday January 31, 11:37 am ET (The following statement was released by the ratings agency) NEW YORK, Jan 31 - Applied Materials Inc. (NasdaqNM:AMAT - News; A-/Stable/--) announced that its orders for the January 2003 quarter were about 35% below the $1.56 billion orders reported for its fiscal fourth quarter, ended October 2002. In mid-November 2002, the company had expected a 20% sequential decline in orders for the January 2003 quarter. Also in November, Applied expected to report at least a 20% sequential decline in revenues but that it would remain operationally profitable. The recent revision did not affect the company's forecast of its January revenues or earnings. Standard & Poor's Ratings Services said that the revised order levels would have no effect on its ratings or outlook on the company. Applied Materials, a leading supplier of capital goods for the semiconductor manufacturing sector, has experienced order and revenue volatility due to overcapacity and recession in the semiconductor industry; a significant degree of volatility is incorporated in the company's ratings. Cash balances of $4.8 billion at Oct. 31, 2002, substantially exceeded debt and capitalized leases of $1.1 billion. Applied will release its January results on Feb. 11, 2003, after markets close. FWIW.