$AMAT Posts a 71% Drop in Profits

Source

“Feb 12 (Reuters) – Chip gear maker Applied Materials’ first-quarter profit fell 71 percent, hurt by lower orders.

Net income fell to $34 million, or 3 cents per share, from $117 million, or 9 cents per share, a year earlier. Excluding items the company earned 6 cents per share.

Revenue fell 28 percent to $1.57 billion.”