Applied Materials Extends Share Repurchase Program.Business Editors/High-Tech Writers 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)--March 23, 2001 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 , Inc. today announced that at its regularly scheduled meeting, its Board of Directors extended the Company's share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program, following the expiration on March 22, 2001 of its prior share repurchase authorization. The Company will continue its ongoing systematic stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, and the Company may also make additional share repurchases from time to time, depending on market conditions, share price and other factors. This new authorization allows the Company to repurchase up to $2 billion of its common stock over the next three years in the open market. The main purpose of the repurchase program is to acquire shares to fund the Company's stock-based employee benefit and incentive programs, including the stock option and employee stock purchase plans, thus reducing dilution to stockholders. As of January 28, 2001, Applied Materials had approximately 810 million shares of common stock outstanding. Applied Materials (Nasdaq: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 ), the largest supplier of products and services to the global semiconductor industry, is one of the world's leading information infrastructure providers. Applied Materials' Web site is http://www.appliedmaterials.com. |
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