TITLE

Applied Misses on Profit, Cuts Work Force

AUTHOR(S)
Lee, Michael
PUB. DATE
November 2008
SOURCE
Red Herring;11/12/2008, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the financial performance of Applied Materials for the fourth quarter of 2008. The maker of chips and thin film for solar companies reported net income of $231 million, or $0.17 per share, on revenue of $2.04 billion in the quarter, compared with $422 million, or $0.30 per share, on revenue of $2.37 billion in the same period a year ago. Wall Street was expecting net income of $217 million on $1.9 billion in revenue. While Applied Materials beat sales forecasts, the 45 percent drop in profit from the previous year forced the company to launch a restructuring program.
ACCESSION #
36586146

 

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