Results
The company also reports a book-to-bill ratio of 2.25, suggesting better times ahead. However, "order and revenue levels remain challenging as customers deferred planned capacity expansions and new technology buys," says president/CEO Nigel Wheeler. "Whilst we see little indication that business levels and business confidence in general are improving, our customer relationships remain excellent." The company reduced its staffing by 17% in the quarter.
World leading equipment company Applied Materials reports net sales at $1.45bn in Q4, up 14% on the figure for Q4 2001. Net income was $147mn, compared with a $82mn net loss in 2001. New orders were up 41% on Q4 2001 at $1.56bn. Sales in the next quarter are expected to be 20% down on the latest result. A small loss is expected to result from the restructuring announced last week (Bulletin 458, November 11, 2002). The company also reports that large IC producers are reducing capital expenditure.
Semiconductor chemical system and vacuum supplier BOC Edwards made a Q4 turnover of GBP185.8mn, up from 2001s GBP183.7mn. Operating profits were also up at GBP9.0mn from GBP5.0mn. A true recovery is not expected until the middle of next year.
