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

To: 16yearcycle who wrote (25314)	10/15/1998 8:49:00 AM
From: Roy F	Read Replies (1) \| Respond to of 70976

KLA-Tencor Reports Operating Results for FirstQuarter October 15, 1998 08:34 AM >>SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 15, 1998--KLA-Tencor Corporation KLAC today announced operating results for its first quarter ended Sept. 30, 1998. Revenues were $205 million compared to $312 million for the September quarter in 1997. Net income was $10 million or $0.11 cents per share compared with $50 million or $0.56 cents per share in the same period one year ago. New orders for the first quarter were lower than expected and resulted in a reduction in the company's backlog of unshipped orders. Order softness occurred in all geographic regions and reflected the lower investment levels in new fabrication facilities by the leading semiconductor manufacturers worldwide. Compared to the prior quarter, the order softness was most pronounced in the U.S. and Europe. All product groups with the exception of the Reticle and Photomask division were affected by the slowdown. Gross margins declined sequentially from the June quarter as a result of the reduction in shipment volumes which impacted capacity utilization. In addition, the revenue mix shifted to lower margin service business. As a result of ongoing cost reduction measures, operating expenses declined to $95 million from $102 million in the June quarter. The financial position of the company remained strong. Cash and investments increased by more than $35 million to $760 million. The company remained cash flow positive and continued to have no long-term debt.<< Estimates were for .13 per Zacks