Chip manufacturing equipment vendor Applied Materials Inc [AMAT] has reported a jump in orders in its fourth quarter.
It announced sales of $1.2 billion for the three months ending October 26, down 16% on the year. Net income was $15 million, compared to a $147 million loss a year ago. The figures included a realignment charge of $114 million.
However, while profits and sales both slipped on the year, the companies remained adamant about its future, claiming new orders were $1.28 billion. This represents a jump of 21% on the previous quarter, but was down 18% on the year.
The company reckons it is in the early stages of an industry up trend, with demand for its products being driven by demand for devices such as wireless PCs and communications products.
It has been hit hard in recent years, as its customers reacted to the slump in demand for silicon and their own previous over-investment in capacity.
For the year to date, sales were $4.48 billion, down 12%, while net loss was $149 million, compared to profit of $269 million the previous year. Orders for the full year were $4.32 billion, down 30% on the year.
This article was based on material originally published by ComputerWire.