Friday, January 31, 2003
Applied Materials warned the fiscal first quarter orders were about 35% below the preceeding quarter. Fourth quarter sales came in at $1.56 billion.
"Due to ongoing economic weakness and geopolitical uncertainties, customers deferred capital expenditures, causing a larger order shortfall than expected," said CEO James Morgan.
The company did not give specific earnings guidance. The company previously said it expected to remain profitable but would incur a small loss in the first quarter due to a restructuring charge. The company expects to release first quarter results and release guidance Feb. 11.
By: DocMemory
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