Profits Off Sharply at Applied Materials

Applied Materials Inc., the world’s biggest supplier of equipment to semiconductor makers, said its quarterly profits plunged, sending shivers through Wall Street about the industry’s performance. The company said profits fell 53% to 40 cents a share in the fourth quarter ended Oct. 27, from 84 cents a share in the 1995 period. The drop, though expected by analysts, shows chip makers are still reluctant to expand and equip new plants after a tough year. The Santa Clara, Calif.-based firm said new orders of $683.2 million in the quarter were 42.9% below orders in the year-ago period. . . . Menlo Park, Calif.-based Intuit Inc., a maker of financial software, reported a slightly wider-than-expected loss for the fiscal first quarter as fewer people bought its flagship tax-preparation software. The company reported a loss from continuing operations of $13.9 million, or 30 cents a share, compared with a loss of $9.1 million, or 20 cents a share, in the year-ago quarter. Intuit had been expected to report a per-share loss of 29 cents.