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Technology Stocks : Lattice Semiconductor
LSCC 72.18-2.0%12:25 PM EDT
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To: Platter who wrote (314)12/10/1998 11:07:00 AM
From: Platter  Read Replies (1) of 339
 
Another warning in sector this morning...From Briefing.com.."CERPROBE CORP. (CRPB) 12 5/8 -2 1/2. An early morning earnings warning by this designer and manufacturer of probe cards, ATE interface assemblies, and ATE test boards is prompting a price retreat of 16% or more. Given the size of the anticipated earnings miss and less than robust outlook seen by the company, it is surprising that the stock is not down by more. According to Cerprobe, it expects To record a Q4 loss from continuing operations of $0.03 to $0.06 a share, well below the current First Call mean estimate for a profit of $0.16 a share. The company blames its earnings woes on continuing softness in the semiconductor sector and request by customers to speed up shipments in the previous quarter. This suggests that last quarter's $0.25 net gain was helped by these early customer shipments which subtracted from earnings in the latest quarter. And it also implies that the stock gains posted in this issue from early October onward are not long lasting as the company still faces many hurdles ahead. Given that the troubles in Asia are not expected to get any better soon, particularly because some of Cerprobe's customers have scheduled shutdowns, this should place further downward pressure on the stock. Before the company reported its Q3 earnings in early October, the stock traded in the $9 to $10 range. We would expect, given the circumstances that prevail, for the stock to again trade in this range."

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