Applied Materials Profit Falls as Orders Dry Up

Applied Materials Inc.'s profit dropped 26% as sales of equipment to semiconductor makers slowed amid belt tightening by memory-chip companies.

For the fiscal second quarter ended April 27, the biggest supplier of semiconductor-manufacturing equipment by revenue reported net income of $302.5 million, or 22 cents a share, down from $411.4 million, or 29 cents a share, a ...