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

To: Teri Skogerboe who wrote (18614)	4/7/1998 11:48:00 AM
From: FJB	Respond to of 70976

That quote from Morgan is straight out of the Feb. 10, 1998 earnings report. Of course, if you didn't read the earnings report or can't remember that far back, this might seem like NEWS. biz.yahoo.com ''New orders for the first fiscal quarter of 1998 fell short of our initial expectations,'' said James C. Morgan, chairman and chief executive officer. ''The continued weakness in DRAM prices, driven by excess capacity, combined with recent financing difficulties in Asia, are causing many of our DRAM customers to reevaluate their capital spending plans. In the first quarter, for example, a key Korean customer delayed a major investment in a new DRAM site in the United Kingdom. Although we remain confident about the long-term prospects for Korea and Japan, there is a high degree of uncertainty regarding the near-term economic health of these regions and the related effect on the demand for semiconductor capital equipment. As a result, we have become more cautious at this time and expect lower new orders and less favorable operating results than we originally anticipated as we entered fiscal 1998,'' continued Morgan.