Enviado: 18/11/2004 0:43ok!
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Applied Materials (AMAT:Nasdaq - news - research) posted sharply higher net income in its fiscal fourth quarter but said it has seen demand decelerate recently.
The Santa Clara, Calif.-based chip-equipment maker delivered net income of $455 million, or 27 cents a share, up from year-ago levels of $15.4 million or 1 cent.
Revenue totaled $2.20 billion, up 80% from last year's levels and down 1% from the preceding quarter.
Analysts were looking for 26 cents a share in earnings on $2.28 billion in revenue.
New orders increased 7% in the quarter to $2.62 billion.
Chief Executive Officer Mike Splinter said he was pleased with the company's financial performance, but he also confirmed that Applied had seen a slowdown within the quarter.
"As the fourth quarter progressed, some customers became more cautious in response to inventory concerns, slowing their 200mm investments," he said in a statement, but added, "Even with these near-term market challenges, we believe our customers will continue to invest in advanced technology and 300mm manufacturing."
In other news, Applied repurchased 31 million shares of common stock in the quarter at an average price of $16.13 each, for a total purchase price of $500 million.