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[marketmaven]

AMAT New Orders Down 36% Sequentially-1% Y-Y
Applied Materials Hits a Triple

By Chris Kraeuter
TheStreet.com Staff Reporter
2/15/2005 4:23 PM EST
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Applied Materials (AMAT:Nasdaq - commentary - research) posted first-quarter results slightly above of what Wall Street expected as earnings and sales for the chip equipment company rose from the same quarter last year.
The Santa Clara, Calif.-based company reported first-quarter net income of $289 million, or 17 cents a share, on sales of $1.78 billion. During the same quarter last year, Applied Materials earned $82 million, or 5 cents a share, on sales of $1.56 billion.

Analysts had expected earnings of 16 cents a share and sales of $1.74 billion, on average, according to Thomson First Call.

New orders fell 36% sequentially compared with a predicted decline of 35%. From the fourth quarter, Applied Materials' orders declined 1%.

Shares of Applied Materials were off slightly in late trading to $17.44; they closed the regular session at $17.49.