Re: "Does anyone know what to expect from tomorrow's earnings announcement?"
Whatever it may be, Korea's impacts can only get better. Take a look at Sawtek's earning report after hour today:
"Steve Miller, Chairman & CEO, stated that, ''The Company achieved record revenue and net income during a difficult period
for many suppliers of components to the telecommunication industry. Revenue from South Korean customers decreased from
22% of total revenue last quarter to 8% in the current quarter primarily due to the economic turmoil in Asia, the devaluation of
the South Korean currency and a corresponding slow down in demand from customers located in South Korea. Business in
both the U.S. and Europe remained strong in the quarter offsetting the decline in South Korea.'' Miller further noted that during
the past quarter the Company successfully completed negotiations with its major South Korean customers to resolve orders,
shipping schedules, and credit matters. The negotiations were concluded with no cancellations of orders, a more definitive
shipment schedule and mutually acceptable credit and payment terms. As a result, the Company believes that revenue from
South Korean customers will be approximately 8% to 12% of sales in the quarter ended June 30, 1998.
Sawtek Inc. is a leading supplier of electronic signal processing components based on surface acoustic wave (''SAW'')
technology. The Company's primary focus is custom designed, high-performance bandpass filters, resonators, delay lines,
oscillators and SAW-based subsystems. These products are used in a wide array of microwave and radio frequency systems
such as CDMA and GSM-based digital telephone systems, digital microwave radios, wireless local area networks, cable
television, defense and satellite systems, and chemical sensors." |
