Wednesday, May 14, 2003
Applied Materials reported a net loss in its fiscal second quarter Tuesday as chip makers continue to delay investing in capital equipment.
For second quarter ended April 27, Applied Materials reported a net loss of $62 million, or 4 cents a share, compared with a profit of $52 million, or 3 cents a share, in the year-ago period. The net loss includes restructuring charges of $151.7 million.
Excluding the restructuring, Applied would have reported a net income of $44.8 million, or 3 cents a share. The company reported revenue of $1.11 billion, down 4 percent from $1.16 billion in the second quarter a year ago, but up slightly from the prior quarter's revenue of $1.05 billion.
Analysts, however, were disappointed with the company's forecast, which lacked any signals that business is really starting to turn around. Applied said it expects new orders, to be flat in the fiscal third quarter with the second quarter, and third-quarter revenue to be flat or slightly below the second quarter.
By: DocMemory
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