Feb. 25, 2003 – Santa Clara, CA – Worldwide political uncertainties continue to be a depressant on business activity and buying, Applied Materials Inc. CFO Joe Bronson said.

Speaking at a technology symposium, Bronson said, “you still have this overhand of malaise” keeping businesses from new investment decisions, reported Dow Jones. He said he hasn’t seen a significant change in the environment from Applied’s first fiscal quarter.

But he said that Applied Material’s profitability will reach the same levels the company achieved during the peak of the industry’s last up cycle. The company believes it can reach these same levels when the next up swing comes, he said.

When quarterly revenue reaches $2 billion (Applied Material’s revenue peaked at $2.3 billion at the height of the last growth cycle) the gross margin can hit 50%, he said.