Applied Materials' Third Quarter 1997 Guidance Unchanged Despite Submicron Charge.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--June 19, 1997--Applied Materials, Inc. (NASDAQ/NMS:AMAT AMAT Applied Materials (stock symbol) AMAT Average Memory Access Time AMAT Automatic Message Accounting Transmitter AMAT Anti-Materiel (bomb or mine) AMAT Ageing Management Assessment Team ) announced today that its efforts to work out a payment plan for outstanding receivables with Submicron Technology PCL (Printer Command Language) The page description language for HP LaserJet printers. It has become a de facto standard used in many printers and typesetters. PCL Level 5, introduced with the LaserJet III in 1990, also supports Compugraphic's Intellifont scalable fonts. ("Submicron") have not been successful, and it expects to reserve the net financial exposure of approximately $16 million pretax in its third quarter ending July 27, 1997. However, Applied Materials Applied Materials, Inc. NASDAQ: AMAT (HKSE: 4336 ) is the global leader in nanomanufacturing technology solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel solar displays, solar said this will not affect its third quarter guidance. "The company's third quarter revenue outlook has strengthened, and we expect to achieve the earnings guidance of $0.67 provided earlier in this quarter, despite this charge for the Submicron exposure," said Gerald F. Taylor, senior vice president and chief financial officer of Applied Materials. This guidance does not reflect the positive one-time pretax impact of the $80 million legal settlement with Novellus Systems Novellus Systems develops, manufactures, sells, and services semiconductor equipment used in the fabrication of integrated circuits. It is a leading supplier of chemical vapor deposition (CVD), physical vapor deposition (PVD), electrochemical deposition (ECD), chemical mechanical announced May 5, 1997. Applied Materials has taken action today to gain possession of the tools previously shipped to Submicron. The tools have been in storage at warehouses located in the U.S., Europe and Israel. The Company expects to reconfigure the equipment to meet future customer needs. "We regret that this action was necessary," Taylor said. "After several efforts in concert with other equipment suppliers to work with Submicron, no resolution of the outstanding payment issues has been offered. We hope that the government and the financial community in Thailand will find a way to assist Submicron to establish a semiconductor capability. Once they reestablish their financial health, we would consider doing business with them again under appropriate terms and conditions." This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to those set forth in the Company's Form 10-Q Form 10-Q See 10-Q. for the period ended April 27, 1997 and the Company's May 13, 1997 earnings release. Applied Materials, Inc. is a Fortune 500 global growth company and the world's largest supplier of wafer fabrication Wafer Fabrication is a procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. Examples include production of radio frequency (RF) amplifiers, LEDs, optical computer components, and CPUs for computers. systems and services to the global semiconductor industry. Applied Materials is traded on the Nasdaq National Market under the symbol "AMAT." Applied Materials' web site is http://www.AppliedMaterials.com . CONTACT: Applied Materials Carolyn Schwartz (financial community), 408/748-5227 Shannon Fryhoff (media/editorial), 408/986-7229 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion