updated 2/18/2004 6:12:18 PM ET 2004-02-18T23:12:18

Applied Materials Inc., the world’s largest maker of chip-manufacturing equipment, swung to a profit in the latest quarter as the rebounding industry continued to boost demand.

The Santa Clara, Calif., company reported net income of $82 million, or 5 cents a share, for its fiscal first quarter ended Feb. 1. That compares with the previous year’s loss of $65.7 million, or 4 cents a share.

Revenue rose 48 percent to $1.56 billion from $1.05 billion.

Excluding charges for realignment activities, Applied Materials said it would have earned $200 million, or 12 cents a share, during the period.

Analysts surveyed by Thomson First Call were expecting earnings, excluding items, of 8 cents a share on revenue of $1.32 billion.

New orders came to $1.68 billion for the first quarter, up 32 percent from $1.28 billion in the fourth quarter and up 66 percent from $1.02 billion in the first quarter last year.

Things have been looking up for Applied Materials as an uptick in computer sales has fueled demand for semiconductors.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com