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Technology Stocks : Semi Equipment Analysis

SOXX 270.83

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Nov 21 4:00 PM EST

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To: Gottfried who wrote (4322)	7/26/2002 9:25:52 AM
From: The Ox	of 95456

Brooks-PRI to restate Q1, Q2 revenue lower --6:59am - By Tomi Kilgore Brooks-PRI Automation (BRKS) said it would restate its fiscal first and second quarter revenue downward by a total of $4.5 million due to the cancellation of a customer fab and the renegotiation of a related long-term contract. Separately, the chip equipment maker reported fiscal third-quarter losses, before non-recurring items that were narrower than consensus analyst expectations, and said it had implemented a workforce reduction of 350 people following the acquisition of PRI. Net losses for the quarter ending June were $24.2 million, or 89 cents a share, versus a profit of 3 cents a share in the same period a year ago. Excluding restructuring and acquisition-related charges and the amortization of intangible assets, the loss for the quarter was 45 cents a share, versus the average analyst estimate compiled by Thomson Financial/First Call of a loss of 57 cents. Revenue fell 17 percent to $85.8 million, but was above analyst expectations of $79.5 million. The stock closed Thursday down $1.25 at $14.98.

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