SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-K/A
                                (AMENDMENT NO. 1)


               [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                     For the fiscal year ended July 1, 2000

                                       OR

              [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

               For the transition period from _______ to ________
                          Commission file number 23103

                            APPLIED FILMS CORPORATION
             (Exact name of registrant as specified in its charter)

             COLORADO                                      84-1311581
  (State of other jurisdiction of                      (I.R.S. Employer
   incorporation or organization)                       Identification No.)

                   9586 I-25 Frontage Road, Longmont CO 80504
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (303) 774-3200

           Securities registered pursuant to Section 12(b) of the Act:
                                                       Name of Exchange
          Title of Each Class                         on Which Registered
             Common Stock                            Nasdaq National Market

        Securities registered pursuant to Section 12(g) of the Act: None
                                (Title of Class)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes _X_  No ____

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of Registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by  reference in Part III of this Form 10-K or any  amendments  to
this Form 10-K. ______

The  aggregate  market value of the common stock held by  non-affiliates  of the
Registrant,  based on a per  share  price of  $24.50  as of July 28,  2000,  was
$148,000,972.  As of July 28, 2000, there were  outstanding  6,040,856 shares of
the Company's Common Stock (no par value).

Documents  Incorporated by Reference:  Portions of the Company's Proxy Statement
for the 2000 Annual Meeting of Shareholders  are  incorporated by reference into
Part III of this Report.
<PAGE>
PORTION AMENDED

The Registrant  hereby amends Part IV Item 14 and the Exhibit Index as set forth
herein.

                                     PART IV

ITEM 14:  Exhibits, Financial Statements, Schedules, and Reports on Form 8-K

     (a)  The following documents are filed as part of this report:

          1.  Financial Statements.

          The Registrant's consolidated financial statements, for the year ended
July  1,  2000,  together  with  the  Report  of  Independent  Certified  Public
Accountants  are filed as part of this Form 10-K report.  See "ITEM 8: Financial
Statements  and  Supplementary  Data." The  supplemental  financial  information
listed and appearing  hereafter should be read in conjunction with the financial
statements included in this report.

          2.  Financial Statement Schedules.

Financial  Statements  for  Suzhou  NSG AFC Thin Films  Electronics  Co.,  Ltd.,
together  with the  report  thereon of  PricewaterhouseCoopers  dated 16 January
2001.
<PAGE>
SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.

FINANCIAL STATEMENTS
31 DECEMBER 2000 AND 1999
<PAGE>
PricewaterhouseCoopers
                                                   Mailing Address:
                                                   12th Floor Shui On Plaza
                                                   333 Huai Hai Zhong Lu
                                                   Shanghai 200021
                                                   People's Republic of China
                                                   Telephone: +86 (21) 6386 3388
                                                   Facsimile: +86 (21) 6386 3300


                        Report of Independent Accountants



To the Board of Directors of
Suzhou NSG AFC Thin Films Electronics Co., Ltd.

In our opinion,  the  accompanying  balance sheet and the related  statements of
operations of changes in owner's equity and of cash flows present fairly, in all
material  respects,  the  financial  position  of  Suzhou  NSG  AFC  Thin  Films
Electronics  Co., Ltd.  ("the  Company") at 31 December  2000 and 1999,  and the
results  of its  operations  and its  cash  flow  for the  years  then  ended in
conformity with accounting principles generally accepted in the United States of
America.  These  financial  statements are the  responsibility  of the Company's
management:  our  responsibility  is to express  an  opinion on these  financial
statements  based on our audits.  We conducted our audits of these statements in
accordance with auditing  standards  generally  accepted in the United States of
America.  Those standards  require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the  amounts  and  disclosures  in  the  financial  statements,   assessing  the
accounting  principles  used and significant  estimates made by management,  and
evaluating the overall  financial  statement  presentation.  We believe that our
audits provide a reasonable basis for the opinion expressed above.



PricewaterhouseCoopers Zhong Tian
Certified Public Accountants Co., Ltd.

16 January 2001
<PAGE>
                 SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.
                                  BALANCE SHEET
                            31 DECEMBER 2000 AND 1999
                          (Expressed in Renminbi Yuan)
<TABLE>
ASSETS                                                         Note        2000                   1999
<S>                                                            <C>      <C>                    <C>
Current assets
   Cash and cash equivalents                                     3      16,169,378             13,829,571
   Accounts receivable
     - third parties                                                    27,776,458             18,640,320
     - related parties                                          10      42,409,704             15,991,815
   Inventories - Net                                             4      18,945,829              6,684,906
   Prepaid expenses and other receivables                               14,788,215              6,413,765
   Amount due from related parties                              10         256,869                      -
                                                                     ------------------------------------
Total current assets                                                   120,346,453             61,560,377

Fixed assets - Net                                               5     131,567,024             85,162,598
                                                                     ------------------------------------
Total assets                                                           251,913,477            146,722,975
                                                                     ------------------------------------
LIABILITIES AND OWNERS' EQUITY

   Current liabilities
      Short-term loans                                           6      31,489,920             26,043,095
      Accounts payable
       - third parties                                                   3,044,108              4,359,889
       - related parties                                        10      49,954,682             32,689,731
   Accrued expenses and other payables                                  18,378,713              6,505,704
   Amounts due to related parties                                        2,147,022              1,729,291
                                                                     ------------------------------------
   Total liabilities                                                   105,014,445             71,327,710
                                                                     ------------------------------------
   Owners' equity
     Paid-in capital                                             7     110,896,306             52,989,776
     Retained earnings                                                  36,002,726             22,405,489
                                                                     ------------------------------------
   Total owners' equity                                                146,899,032             75,395,265
                                                                     ------------------------------------
   Total liabilities and owners' equity                                251,913,477            146,722,975
                                                                     ------------------------------------
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
                 SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.
                                  BALANCE SHEET
                            31 DECEMBER 2000 AND 1999
                          (Expressed in Renminbi Yuan)
<TABLE>
                                                               Note       2000                   1999
<S>                                                                   <C>                     <C>
Net sales                                                              291,484,694            132,232,053

Cost of products sold                                                  185,926,817             92,187,769
Selling and administrative expenses                                     23,310,727              9,115,430
Depreciation and amortization                                           10,054,553              6,305,480
Other costs and operating expenses                                           2,998                 11,313
                                                                     ------------------------------------
                                                                       219,295,095            107,619,992
                                                                     ------------------------------------
Income from operations                                                  72,189,599             24,612,061
                                                                     ------------------------------------
Other income:
     Interest income                                                        66,830                171,996
     Others                                                                853,533                     --
                                                                     ------------------------------------
                                                                           920,363                171,996
                                                                     ------------------------------------
Other expenses:
     Interest cost incurred on loans                                     1,455,174                773,475
     Others                                                                151,021              1,329,192
                                                                     ------------------------------------
                                                                         1,606,195              2,102,667
                                                                     ------------------------------------
Income before income taxes                                              71,503,767             22,681,390

Provision for taxes on income                                    9              --                     --
                                                                     ------------------------------------
Net income                                                              71,503,767             22,681,390
                                                                     ------------------------------------
</TABLE>

The accompanying notes are an integral part of these financial statements.
<PAGE>
                 SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.
                     STATEMENT OF CHANGES IN OWNERS' EQUITY
                  FOR THE YEAR ENDED 31 DECEMBER 2000 AND 1999
                          (Expressed in Renminbi Yuan)

<TABLE>
                                                             Paid in                Retained
                                                             Capital                Earnings              Total
<S>                                                       <C>                      <C>                 <C>
Balance at 1 January 1999                                   7,948,752                 (275,901)         7,672,851

Net income                                                         --               22,681,390         22,681,390

Capital contribution                                       45,041,024                       --         45,041,024
                                                      ------------------------------------------------------------
Balance at 31 December 1999                                52,989,776               22,405,489         75,395,265
                                                      ------------------------------------------------------------
Balance at 1 January 2000                                  52,989,776               22,405,489         75,395,265

Net income                                                         --               71,503,767         71,503,767

Reinvestment of retained earnings
   as capital increase                                     57,906,530              (57,906,530)                --
                                                      ------------------------------------------------------------
Balance at 31 December 2000                               110,896,306               36,002,726        145,899,032
                                                      ------------------------------------------------------------
</TABLE>

The accompanying notes are an integral part of these financial statements.
<PAGE>
                 SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.
                             STATEMENT OF CASH FLOWS
                  FOR THE YEAR ENDED 31 DECEMBER 2000 AND 1999
                          (Expressed in Renminbi Yuan)
<TABLE>
                                                                                 2000                   1999
<S>                                                                        <C>                     <C>
Cash flows from operating activities:
   Net income                                                                71,503,767             22,681,390
   Adjustments to reconcile net income to net cash
   generated from operating activities:
   Depreciation and amortization                                             10,054,553              6,305,480
   Increase in accounts receivable                                          (35,554,027)           (34,632,135)
   Increase in Inventories                                                  (12,260,923)            (6,684,906)
   Increase in prepaid expenses and other receivables                        (8,631,319)            (6,413,765)
   Decrease in accounts payable                                              15,949,170             37,049,620
   Increase in accrued expenses and other payable                            10,512,867              5,259,501
                                                                           -----------------------------------
Cash generated from operating activities                                     51,574,088             23,565,185
                                                                           -----------------------------------
Cash flows used in investing activities:
   Acquisition of fixed assets                                              (55,098,837)           (87,882,235)
                                                                           -----------------------------------
Cash flows from financing activities:
   Capital contribution                                                              --             45,041,024
   Proceeds from short-term loans                                             5,446,825             26,043,095
   Increase in amounts due to related parties                                   417,731              1,729,291
                                                                           -----------------------------------
Net cash generated from financing activities                                  5,864,556             72,613,410
                                                                           -----------------------------------
Net increase in cash and cash equivalents                                     2,339,807              8,496,360

Cash and cash equivalents at beginning of year                               13,829,571              5,333,211
                                                                           -----------------------------------
Cash and cash equivalents at end of year                                     16,169,378             13,829,571
                                                                           -----------------------------------
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION

Cash paid during the year for
   interest (net of interest capitalised)                                     1,517,527                773,475
                                                                           -----------------------------------
INVESTING AND FINANCING ACTIVITIES THAT DO NOT INVOLVE
CASH RECEIPTS AND PAYMENTS

Reinvestment of retained earnings as capital increase                        57,906,530                     --
                                                                           -----------------------------------
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
                 SUZHOU NSG AFC THIN FILMS ELECTRONICS CO., LTD.
                        NOTES TO THE FINANCIAL STATEMENTS
                  FOR THE YEAR ENDED 31 DECEMBER 2000 AND 1999
                          (Expressed in Renminbi Yuan)

1    THE COMPANY

     Suzhou NSG AFC Thin Films Electronics Co., Ltd. ("the Company") is a wholly
     foreign  owned  enterprise  established  on July 10, 1998 with an operating
     period of 50 years. The equity owners of the Company are Nippon Sheet Glass
     Co.,  Ltd. and Applied Film  Corporation  who have equity  interests of the
     Company of 50% and 50%  respectively.  The Company commenced its production
     in April 1999. The principal activities of the Company are the manufacture,
     process  and sales of ITO coated  glass for  TN-type  LCD  (Liquid  Crystal
     Display) and STN-type LCD, except transparent  electroconductive  thin film
     on micro color filter.  The average number of employees is approximate  223
     for the year ended December 31, 2000.

     As resolved in the 8th meeting of the Board of directors held on 31 October
     2000,  the total  investment  of the  Company is  increased  from  US$29.99
     million to US$40.49  million and the  registered  capital is increased from
     US$13.395   million  to  US$18.645  million  by  reinvesting  the  retained
     earnings. In addition, the business scope will be changed to production and
     sales of ITO-coated  glass  substrate for TN and STN LCD  (including  color
     filter),  reflective  coating  onto  glass  substrate  for color  STN,  and
     providing  after  sales  services.  The  aforementioned  increase  in total
     investment,  increase  in the  registered  capital  and changes in business
     scope are pending for approval by relevant authorities.

2    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     a    Basis of Preparation

          The Company maintains its books and prepares its statutory accounts in
          accordance  with the  accounting  principles  and  relevant  financial
          regulations applicable to foreign investment companies in the People's
          Republic of China ("the  PRC").  These  accounting  policies and bases
          differ  in  certain  respects  from  accounting  principles  generally
          accepted in the United States of America ("US GAAP").  These financial
          statements  incorporate  adjustments made to the statutory accounts so
          as to conform with US GAAP.

          The principal adjustment made to the statutory financial statements of
          the Company in order to conform with US GAAP is as follows:

          -    Adjustment  to recognize the deferred  pre-operating  expenses as
               selling and administrative  expenses when incurred. In accordance
               with the PRC accounting  regulations,  the pre-operating expenses
               are capitalized as the start-up costs and shall be amortized over
               5 years commencing from the start date of commercial operations.
<PAGE>
2    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

     b    Accounting Estimates

          The preparation of financial  statements in conformity with accounting
          principles generally accepted in the United States of America requires
          management to make estimates and assumptions  that affect the reported
          amounts of assets and liabilities and disclosure of contingent  assets
          and  liabilities  at the  date  of the  financial  statements  and the
          reported amounts of revenues and expenses during the reporting period.
          Actual results could differ from these estimates.

     c    Foreign Currency Transactions

          Except for in the accounting for paid-in  capital as described  below,
          transactions  denominated in foreign  currencies  are translated  into
          Renminbi at the exchange  rates  stipulated  by the  People's  Bank of
          China  prevailing  on  the  first  day  of  the  month  in  which  the
          transactions took place.  Monetary assets and liabilities expressed in
          foreign  currencies  at the  balance  sheet date are  translated  into
          Renminbi at the exchange rates stipulated by People's Bank of China at
          the balance sheet date. Exchange  differences arising from these cases
          are included in the current results of operations.

          Contributions  to  paid-in  capital  made in  foreign  currencies  are
          credited  to  paid-in  capital at  exchange  rates  stipulated  by the
          People's Bank of China prevailing at the contribution dates.

     d    Inventories

          Inventories are stated at the lower of cost or market value, with cost
          being determined on the monthly weighted average basis.

     e    Fixed Assets

          Fixed  assets are stated at cost.  Assets  with  acquisition  costs in
          excess of Rmb 2,000 and useful lives over two years or assets used for
          production purposes are capitalised.  Expenditures for maintenance and
          repairs  are  charged  to  expenses  as  incurred;   expenditures  for
          betterments and major renewals are capitalised.

          Depreciation  is  provided  under the  straight-line  method  over the
          estimated  useful lives of the assets.  The estimated useful lives are
          determined  based upon the service lives  guideline  prescribed by the
          government. The salvage values of fixed assets are 10% of their costs.
<PAGE>
2    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

     e    Fixed Assets (Continued)

          The useful lives of the fixed assets are as follows:
          Building                                                      20 years
          Machinery and equipment                                       10 years
          Office equipment                                               5 years
          Other equipment                                             5-10 years
          Leasehold improvements                                        10 years

     f    Recognition of Revenue and Expenses

          Revenue  is  recognized  upon  shipment  of  products.   Expenses  are
          recognized when incurred.

     g    Income taxes

          The  Company  accounts  for  income  taxes  under  the  Balance  Sheet
          Liability  Method.   Under  this  method,   deferred  tax  assets  and
          liabilities  are  recognized  based on differences  between  financial
          statements  and tax  bases of  assets  and  liabilities  subject  to a
          valuation alIowance based upon the likelihood of realization.

3    CASH
<TABLE>
                                                 2000                      1999
         <S>                                  <C>                     <C>
         Demand accounts                      16,118,930              13,800,305
         Cash on hand                             50,448                  29,266
                                            -------------------------------------
                                              16,169,378              13,829,571
                                            -------------------------------------
</TABLE>

4    INVENTORIES
<TABLE>
                                                2000                       1999
         <S>                               <C>                         <C>
         Raw materials                        7,387,784                4,167,536
         Work in process                             --                   77,664
         Finished goods                      11,558,045                2,439,706
                                           --------------------------------------
                                             18,945,829                6,684,906
                                           --------------------------------------
</TABLE>
<PAGE>
5    FIXED ASSETS

<TABLE>
                                                                     2000                     1999
         <S>                                                     <C>                      <C>
         Building                                                     681,020                 754,536
         Plant and machinery                                      130,929,008              86,951,843
         Office equipment                                             927,761                 378,292
         Other equipment                                              767,049                 428,021
         Leasehold improvements                                     2,956,511               2,956,511
         Construction in progress                                  11,666,833                      --
                                                                --------------------------------------
                                                                  147,928,182              91,469,203

         Less: Accumulated depreciation and amortization          (16,361,158)             (6,306,505)
                                                                --------------------------------------
                                                                  131,567,024              26,043,095
</TABLE>

6    SHORT-TERM LOANS

<TABLE>
                                                                      2000                     1999
         <S>                                                     <C>                      <C>
         Short-term bank loans                                     31,489,920              26,043,095
                                                                 -------------------------------------
</TABLE>

     As at 31 December  2000,  50% of the  short-term  loans were  guaranteed by
     Nippon Sheet Glass Co., Ltd. by issuing an irrevocable  official  letter of
     guarantee;  the  remaining  50% of loans were  guaranteed  by Applied Films
     Corporation  by  issuing an  irrevocable  stand-by  letter of  credit.  The
     related interest rate ranged from 6.14%- 7.4% per annum in 2000.

     As at 31 December  1999,  the  short-term  loans were  guaranteed by Nippon
     Sheet Glass, Ltd.

7    PAID-lN CAPITAL AND RETAINED EARNINGS
<TABLE>
                                            Paid-in capital            Retained earnings            Total
         <S>                                 <C>                          <C>                     <C>
         At January 1,2000                   52,989,776                   22,405,489              73,395,265

         Net profit                                   -                   71,503,767              71,503,767
         Capital Increase                    57,906,530                  (67,906,530)                      -
                                           -------------------------------------------------------------------
         At December 31, 2000               110,896,306                   36,002,726             146,899,032
                                           -------------------------------------------------------------------
</TABLE>

     As approved by the related authorities,  Rmb57,906,530 of retained earnings
     has been reinvested as capital increase.

     In  accordance  with the  Provision  of the  People's  Republic of China on
     Administration of Financial Affairs Enterprises with Foreign Investment and
     the Income Tax Law of Foreign  Enterprises,  the  retained  earnings  as of
     December   31,  2000  and  1999  were   approximately   Rmb29,660,000   and
     Rmb21,511,500, respectively, for local statutory purposes.
<PAGE>
8    PENSION SCHEME

     The Company is required to  participate  in a Suzhou  Municipal  government
     pension scheme whereby it shall contribute to a government-managed  pension
     fund at the rate of 20% of the monthly  gross  wages of  existing  national
     employees.  Under the scheme,  retirement  benefits of Existing  and future
     retired  employees  are  provided  by the  government-managed  fund and the
     Company has no further obligation beyond the monthly contributions.


9    PROV1SIDN FOR TAXES ON INCOME

     In computing the enterprise income taxes, the Company is subject to the law
     of  Income  Tax  for  Enterprises  with  Foreign   Investment  and  Foreign
     Enterprises  of the peep's  Republic of China ("the  income Tax Law").  The
     prevailing tax rate Is 15% of taxable income.

     Being a manufacturing  enterprise with foreign  lnvestment,  the Company Is
     entitled to a two year tax holiday commencing from the first  profit-making
     year for the three years followlng the tax holiday, the Company's Income is
     to be taxed at 50% of enacted rate.  Losses  incurred by the Company may be
     carried forward for five years with no carrybacks.  The first profit-making
     year is the first year in which the Company  generates taxable lncome after
     taking into account the loss carryforward.

     The  Company's  first  profit  making year is 1999.  No  corporate or Iocal
     income lax has been  provided  for the year as the  Company  was In the tax
     exemption period.

10   RELATED PARTY RELATIONSHlPS AND TRANSACTIONS


Names and relationships of related parties are summarized a follows:

         Names of related party                 Relationship with the Company

   Applied Film Corporation ("AFC")           One of the Company's equity owners

   Nippon Sheet Glass Co., Ltd. (:NSG")       One of the Company's equity owners

   Suzhou NZSG Electrics Co., Ltd. ("SNSG")   Affiliated company

   Nippon Sheet Glass Purchase and Supply     Affiliated company
   Co., Ltd. ("NSGPS")

   NSG Engineering Co., Ltd.                  Affiliated company
   ("NSG Engineering")
<PAGE>
10   RELATED PARTY RELATIONSHIPS AND TRANSACTIONS (Continued)


     Significant transactions with related parties are summarized as follows:

     a.   Sales
<TABLE>
                                                                 2000                           1999
     <S>                                                   <C>                             <C>
     SNSG                                                      2,877,918                              -
     AFC                                                      97,777,858                     24,542,851
     NSG                                                      68,548,230                     39,928,206
                                                          ----------------------------------------------
                                                             169,204,006                     64,471,057
                                                          ----------------------------------------------
</TABLE>

     Sales to the related parties  represented 58.05% and 49.82 of the Company's
     total sales in 2000 and 1999, respectively.

     b.   Purchases
<TABLE>
                                                               2000                           1999
     <S>                                                  <C>                             <C>
     SNSG                                                   143,935,601                     64,156,930
     AFC                                                      5,675,383                      3,100,516
     NSG                                                        108,578                      1,896,911
     NSGPS                                                   11,733,606                      7,748,406
     NSG Engineering                                                  -                          4,209
                                                          ---------------------------------------------
                                                            161,453,168                     76,906,972
                                                          ---------------------------------------------
</TABLE>

     Purchased  from the  related  parties  represented  92.5%  and 87.83 of the
     Company's total purchases in 2000 and 1999, respectively.

     c.   Acquisition of fixed assets
<TABLE>
                                                               2000                           1999
     <S>                                                  <C>                            <C>
     AFC                                                     39,290,014                    40,013,476
     NSGPS                                                      803,685                             -
     SNSG                                                             -                    40,329,393
                                                          --------------------------------------------
                                                             40,093,699                    80,432,869
                                                          --------------------------------------------
</TABLE>

     d.   Accounts Receivable
<TABLE>


                                                               2000                           1999
     <S>                                                  <C>                           <C>
     SNSG                                                     1,410,842                       15,995
     AFC                                                     18,583,412                    3,520,494
     NSG                                                     22,415,450                   12,455,326
                                                          -------------------------------------------
                                                             42,409,704                   15,991,815
                                                          -------------------------------------------
</TABLE>
<PAGE>
     e.   Other Receivables
<TABLE>
                                                               2000                           1999
     <S>                                                  <C>                            <C>
     SNSG                                                       84,284                              -
     AFC                                                       192,585                              -
                                                          --------------------------------------------
                                                               268,869                              -
                                                          --------------------------------------------
</TABLE>

     f.   Accounts Payable
<TABLE>
                                                              2000                            1999
     <S>                                                  <C>                             <C>
     SNSG                                                   46,060,624                     27,235,370
     AFC                                                     2,172,914                      1,330,409
     NSG                                                             -                      1,896,811
     NSGPS                                                   1,721,144                      2,226,041
                                                          --------------------------------------------
                                                            49,954,682                     32,689,731
                                                          --------------------------------------------
</TABLE>

     g.   Other Payables
<TABLE>
                                                               2000                           1999
     <S>                                                  <C>                             <C>
     SNSG                                                     454,600                        623,482
     AFC                                                      777,022                        535,100
     NSG                                                      774,057                        537,372
     NSGPS                                                    141,343                              -
     NSG Engineering                                                -                         33,337
                                                          -------------------------------------------
                                                            2,147,022                      1,729,291
                                                          -------------------------------------------
</TABLE>

     h.   Royalty

     According to the know-how license agreements entered into with NSG and AFC,
     the Company  shall pay a royalty of 1.05% of net sales each to NSG and AFC.
     As of 31 December,  2000,  Rmb5,077,872  of such  royalty were  accordingly
     accrued for 2000.

     i.   Guarantee

     As of December 31, 2000, 50% of the short-term loans of Rmb31,489,920  were
     guaranteed  by Nippon  Sheet  Glass Co.,  Ltd.  By  issuing  an  irrevoable
     official letter of guarantee; the remaining 50% of the aforementioned loans
     were  guaranteed  by Applied  Films  Corporation  by issuing an  irrevoable
     stand-by letter of credit.
<PAGE>
     j.   Lease commitment

     The Company has entered into a lease agreement with NSG for using a factory
     building.  The future rental  payment under the agreement is  approximately
     Rmb 2,381,000 each year.

11   COMMITMENTS

     Capital  expenditure   contracted  but  not  recognized  in  the  financial
     statements is as follows:
<TABLE>
                                                                         2000                           1999
                                                                          US$                            US$
<S>                                                                   <C>                             <C>
Property, plant and equipment                                          2,158,430                      6,570,000
                                                                     ------------------------------------------
</TABLE>
<PAGE>
          3.   Exhibits.

          Reference is made to the Exhibit Index which is found on the last page
of the body of this Form 10-K Annual Report preceding the exhibits.

     (b)  Reports on Form 8-K

          The Registrant  did not  file any  reports on Form 8-K during the last
quarter of the fiscal year ended July 1, 2000.

     (c)  Exhibits

          The response to this  portion  of Item 14  is submitted  as a separate
section of this report.

     (d)  Financial Statement Schedules

          The response to this  section  of Item 14  is submitted  as a separate
section of this report.
<PAGE>
                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
Exchange Act of 1934,  the registrant has duly caused this amendment to the Form
10-K Annual Report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                     APPLIED FILMS CORPORATION

                                     By:      /s/ Thomas T. Edman
                                              Thomas T. Edman, President
                                              June 29, 2001

     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
amendment  to the Form 10-K  Annual  Report  has been  signed  by the  following
persons in the capacities indicated on June 29, 2001.

            Signatures                                    Title

                                          President, Chief Executive Officer and
       /s/ Thomas T. Edman                Director (principal executive officer)
           Thomas T. Edman

                                          Chief Financial Officer and  Treasurer
    /s/ Lawrence D. Firestone             (principal  accounting  and  financial
        Lawrence D. Firestone             officer)

       /s/ John S. Chapin*                Director
           John S. Chapin

     /s/ Cecil Van Alsburg*               Director
         Cecil Van Alsburg

       /s/ Chad D. Quist*                 Director
           Chad D. Quist

    /s/ Vincent Sollitto, Jr.*            Director
        Vincent Sollitto, Jr.

      /s/ Richard P. Beck*                Director
          Richard P. Beck

    ___________________________           Director
           Aitor Galdos


* By:  /s/ Lawrence D. Firestone
           Lawrence D. Firestone
           Attorney-in-Fact for each of the
           above-named directors
<PAGE>
EXHIBIT INDEX


Exhibit No.    Description

    3.1        Amended and Restated  Articles of  Incorporation of Applied Films
               Corporation  are  incorporated  by  reference  to Exhibit  3.1 of
               Registrant's Registration Statement on Form S-1, as amended (Reg.
               No. 333-35331).
    3.2        Amended and  Restated  Bylaws of Applied  Films  Corporation  are
               incorporated   by  reference  to  Exhibit  3.2  of   Registrant's
               Registration   Statement  on  Form  S-1,  as  amended  (Reg.  No.
               333-35331).
    4.1        Specimen common stock certificate is incorporated by reference to
               Exhibit 4.1 of Registrant's  Registration  Statement on Form S-1,
               as amended (Reg. No. 333-35331).
   10.1        1993 Stock Option Plan is  incorporated by reference to Exhibit 4
               of  Registrant's  Registration  Statement  on Form S-8 (Reg.  No.
               333-51175).
   10.2        1997 Stock Option Plan, as amended,  is incorporated by reference
               to Exhibit 10.2 of  Registrant's  Registration  Statement on Form
               S-1, as amended (Reg. No.  333-35331) and by reference to Exhibit
               4.2 of Registrant's  Registration Statement on Form S-8 (Reg. No.
               333-38426.)
   10.3        Employee  Stock  Purchase  Plan is  incorporated  by reference to
               Exhibit 10.3 of Registrant's  Registration Statement on Form S-1,
               as amended (Reg. No. 333-35331).
   10.4        Form of Indemnity  Agreement  between  Registrant and each of its
               Directors and Executive  Officers is incorporated by reference to
               Exhibit 10.4 of Registrant's  Registration Statement on Form S-1,
               as amended (Reg. No. 333-35331).
   10.5        Lease  Agreement  dated  January  30,  1998,  between  9586  East
               Frontage  Road,   Longmont,   CO  80504  LLC  and  Registrant  is
               incorporated   by  reference  to  Exhibit  10.9  of  Registrant's
               Quarterly  Report  on Form  10-Q  for the  fiscal  quarter  ended
               December 27, 1997.
   10.6        Agreement,  dated as of November 18, 1997,  between  Nippon Sheet
               Glass Co.,  Ltd.,  NSG Fine Glass Co.,  Ltd.  and  Registrant  is
               incorporated by reference to Exhibit 10.8 of Registrant's  Annual
               Report on Form 10-K for the fiscal year ended June 27, 1998.
   10.7        Amended and Restated Credit Agreement,  dated as of September 17,
               1999,  between  Registrant and Bank One, Michigan is incorporated
               by  reference to Exhibit 10.7 of  Registrant's  Annual  Report on
               Form 10-K for the fiscal year ended July 3, 1999.
   10.8        Security  Agreement dated June 30, 1994,  between  Registrant and
               Bank  One,  Michigan,  formerly  NBD  Bank,  is  incorporated  by
               reference to Exhibit 10.5 of Registrant's  Registration Statement
               on Form S-1, as amended (Reg. 333-35331).
   10.9        Outside  Director Stock Option Plan is  incorporated by reference
               to Exhibit 4.1 of Registrant's Registration Statement on Form S-8
               (Reg. No. 333-95367).
   11.1*       Statement re: computation of per share earnings.
   21.1        Subsidiary  of  Applied  Films  Corporation  is  incorporated  by
               reference to Exhibit 21 of Registrantss.s  Registration Statement
               on Form S-1, as amended (Reg. No. 333-35331).
   23.1        Consent of Arthur Andersen LLP.
   23.2        Consent of PriceWaterhouseCoopers.
   24.1*       Power of Attorney  (included on the signature page to the Applied
               Films Corporation Form 10-K for the year ended July 1, 2000.
   27.1*       Financial Data Schedule (EDGAR filing only).

*  Previously filed.
<PAGE>
                                  EXHIBIT 23.1


                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent  public  accountants,  we hereby consent to the use of our report
(and to all  references  to our  Firm)  included  in or made a part of this Form
10-K/A and to the  incorporation  of our report  into the  Company's  previously
filed  Registration  Statement  File Numbers  333-47951,  333-47967,  333-38426,
333-51175 and 333-95367.


                                               /s/      ARTHUR ANDERSEN LLP

Denver, Colorado
June 27, 2001
<PAGE>
                                  EXHIBIT 23.2
PRICEWATERHOUSECOOPERS
                                               PricewaterhouseCoopers Zhong Tian
                                          Certified Public Accountants Co., Ltd.
                                                                Mailing address:
                                                       12th Floor, Shui On Plaza
                                                           333 Huai Hai Zhong Lu
                                                                Shanghai  200021
                                                      People's Republic of China
                                                    Telephone +86 (21) 6386-3388
                                                    Facsimile +86 (21) 6386 3300
16 May 2001

                       CONSENT OF INDEPENDENT ACCOUNTANTS

As independent  public  accountants,  we hereby consent to the  incorporation by
reference in the  Registration  Statements of Applied Films  Corporation  of our
report dated 06 January 2001 relating to the financial  statements of Suzhou NSG
AFC Thin Films  Electronics  Co.,  Ltd. for the year ended 31 December  2000 and
1999, which appears in the Annual Report to the Shareholders on Form 10-K.

PricewaterhouseCoopers Zhong Tian
Certified Public Accounts Co., Ltd.