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To: margaret tasset who wrote (13426)	11/20/1997 4:44:00 PM
From: Frank Ellis Morris	Read Replies (1) \| Respond to of 27012

Good Afternoon Margaret, It looks like the market had a good finish and I was pleased to see the results of Applied Material as they reported good earnings: Thursday November 20, 4:02 pm Eastern Time Company Press Release Applied Materials Announces Record Results for the Fourth Fiscal Quarter of 1997 Record New Orders, Revenue, Ongoing Net Income and Cash Levels SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 20, 1997--Applied Materials, Inc. (NASDAQ/NMS:AMAT - news), the world's largest supplier of wafer fabrication systems and services to the worldwide semiconductor industry, reported results for its fourth fiscal quarter ended October 26, 1997, with record net sales of $1.28 billion, an increase of 48.7 percent from net sales of $861.0 million for the fourth fiscal quarter of 1996. Net income of $180.1 million, or $0.47 per share, increased significantly compared to net income of $73.1 million, or $0.20 per share, for the fourth fiscal quarter of 1996. Excluding the one-time items discussed below that are reflected in the Company's\ results of operations for the fourth fiscal quarters of 1997 and 1996, ongoing net income for the fourth fiscal quarter of 1997 was a record $187.3 million, or $0.49 per share, compared to ongoing net income for the fourth fiscal quarter of 1996 of $89.4 million, or $0.24 per share. Gross margin for the fourth fiscal quarter of 1997 improved to 48.1 percent, the highest level since the second fiscal quarter of 1989, from 47.2 percent for the third fiscal quarter of 1997 and 44.1 percent for the fourth fiscal quarter of 1996. Record new orders of $1.37 billion were received in the fourth fiscal quarter of 1997, more than double the new orders of $683.2 million received in the fourth fiscal quarter of 1996, and an increase of 10.9 percent from new orders of $1.24 billion for the third fiscal quarter of 1997. Backlog at the end of fiscal 1997 increased to $1.72 billion, from $1.42 billion at the end of fiscal 1996. ''During fiscal 1997, business conditions strengthened and we exited the year with significant momentum,'' said James C. Morgan, chairman and chief executive officer. ''This was a challenging year for the semiconductor equipment industry, yet Applied Materials was able to outperform the industry and deliver strong financial results. Order momentum started building in our second fiscal quarter and continued through the remainder of the year, allowing us to achieve record levels of new orders, net sales and ongoing net income during our fourth fiscal quarter.'' Geographically, new orders for the fourth fiscal quarter of 1997 from customers located in North America were 29 percent of the Company's total orders, Europe 16 percent, Japan 18 percent and Korea 7 percent. Asia-Pacific, driven by strong demand from customers in Taiwan and Singapore, represented 30 percent of the Company's new orders for the quarter. I spent a cople of hours over in New Jersey with the manufacturer giving them final instructions and hopefully one more proof will do the job. I should know very soon if it is a go. Hope you had a nice afternoon Best Wishes Frank