Wednesday, August 18, 2004
Applied Materials said it had doubled its quarterly revenue and returned to a profit as a result of healthy spending on new semiconductor factories.
Insisting that a recovery in capital spending will not vanish in the coming months as some chip analysts fear, Applied Materials executives forecast further growth in revenue and new orders in the current quarter.
The company said it earned $440.6 million or 26 cents a share in its third quarter. A year earlier, Applied Materials had a loss of $36.8 million as it took a $164 million charge to write down inventory and cut jobs. Net sales rose 104 percent to $2.24 billion from $1.09 billion in the same period last year.
Michael Splinter, the chief executives of Applied Materials, forecast continued growth in semiconductor capital spending and waved off fears that inventories posed a serious threat to the chip industry.
By: DocMemory
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