Applied ordered to provide information on China sales
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Earlier this month chip-making equipment company Applied Materials Inc. (Santa Clara, Calif.) received a fifth subpoena seeking information relating to Chinese customer shipments.
The latest subpoena came from the US Commerce Department’s Bureau of Industry and Security and is the fifth such received by Applied from various US institutions and is likely trying to determine whether equipment was shipped in contravention of US export license conditions.
The company disclosed the subpoenas in its filing of financial results for the second quarter of is financial year 2024 ended April 28, 2024. Applied was also subpoenaed by the BIS in November 2023.
Applied received subpoenas from the U.S. Attorney’s Office for the District of Massachusetts in August 2022 and February 2024 and received a subpoena from the US Securities and Exchange Commission in February 2024
The company stated in the filing: “We are cooperating fully with the government in these matters.”
In its 2QFY24 Applied made net profit of US$1.72 billion on sales revenue of US$6.65 billion that was flat with the same quarter a year before.
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