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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?

To: David Kuspa who wrote (2764)	2/10/1998 4:12:00 PM
From: Mr. Sam	Read Replies (1) \| Respond to of 3736

AMAT announced earnings today. They significantly exceeded expectations of $0.50 with earnings of $0.52 ($0.60 including a one-time gain). However, they also said that new orders did not meet expectations. Here are the financials: Three Months Ended Jan. 25, Jan. 26, (In thousands, except per share amounts) 1998 1997 Net sales $1,307,685 835,776 Cost of products sold 678,244 464,120 Gross margin 629,441 371,656 Operating expenses Research, development and engineering 182,329 116,492 Marketing and selling 86,389 66,271 General and administrative 65,768 59,608 Acquired in-process research and development 32,227 59,500 Income from operations 262,728 69,785 Income from litigation settlement 80,000 -- Interest expense 11,864 5,800 Interest income 21,279 13,557 Income from consolidated companies before taxes 352,143 77,542 Provision for income taxes 123,250 47,965 Income from consolidated companies 228,893 29,577 Equity in net income/(loss) of joint venture -- -- Net income 228,893 29,577 Earnings per share: (2) Basic 0.62 0.08 Diluted 0.60 0.08 Weighted average number of shares: (2) Basic 366,894 361,408 Diluted 379,101 370,864 (2) Amounts for the quarter ended January 26, 1997 have been retroactively restated to reflect a two-for-one stock spilt in the form of a 100 percent stock dividend, effective October 13, 1997. Copyright 1998, Reuters News Service