Press release
Applied Materials Withdraws Second Quarter of Fiscal 2020 Business Outlook
SANTA CLARA, Calif., March 23, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. is withdrawing its business outlook for the second quarter of fiscal 2020,
About this update from Applied Materials, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., March 23, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. is withdrawing its business outlook for the second quarter of fiscal 2020, ending on April 26, 2020, because the evolving worldwide response to COVID-19 is impacting the company’s supply chain and manufacturing operations.\n Specifically, while the company’s global operations network is designed to provide significant flexibility and redundancy, various governmental orders in the U.S. and other countries as well as reductions in airline schedules around the world are resulting in major disruptions to the supply chain and logistics operations that support our industry. The situation is fluid, and we will provide more information during our next earnings webcast. Applied is navigating these challenges with strong customer relationships and from a position of financial strength and technology leadership. We are maintaining our focus on enabling the powerful, long-term trends that we expect to drive future growth in the electronics industry. We remain committed to the proposed acquisition of Kokusai Electric and are working to close the transaction, subject to regulatory approval. As we manage our business during this dynamic situation, our first priority is the health and safety of our employees and their families, as well as those of our customers, suppliers, partners and the communities where we operate. We are actively managing the situation in close collaboration with our customers and suppliers and are supporting them to the best of our ability. In addition, Applied Materials is demonstrating the strength of our values through this COVID-19 crisis and responding with humanitarian aid in the most impacted communities where our employees and their families live. Forward-Looking StatementsThis press release contains forward-looking statements, including those regarding our business outlook for the second quarter of fiscal 2020 and beyond, the potential impacts of COVID-19, future prospects for the business and the industry, the proposed acquisition of Kokusai Electric Corporation, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or imp...