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

To: Paul V. who wrote (28580)	2/26/1999 12:21:00 AM
From: William Griffin	Read Replies (1) \| Respond to of 70976

Applied Materials Sees 2Q Revenue Up Vs. 1Q SAN FRANCISCO (Dow Jones)--Applied Materials Inc. (AMAT) reiterated Thursday that it expects its revenue in the fiscal second quarter to rise sequentially from the first quarter ended Jan. 31. First-quarter revenue fell to $742 million from $1.31 billion in the previous year, but was up from $673 million in the previous quarter. Joseph Bronson, Applied's chief financial officer. said the Santa Clara, Calif., semiconductor equipment maker expects the electronics industry to grow by 4% this year compared with 1998, on the assumption that the U.S. economy will continue to have "pretty decent growth" and that a recovery will get under way in Asia. Revenues of semiconductor makers are expected to rise around 9% in 1999 from the previous year and demand for PCs are projected to grow by around 14%-15%, said Bronson. A pricing environment for DRAM, or dynamic random access memory chips, that is more favorable than it was in 1998 is driving a lot of this growth, he said. "Our balance sheet is extremely strong," said Bronson. "We've been able to reduce receivables at a time of revenue growth and also kept inventories flat." From todays WSJ interacive