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Politics : Formerly About Applied Materials

AMAT 322.32

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Jan 30 9:30 AM EST

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To: Tech Buyer who wrote (4885)	5/27/1997 1:57:00 PM
From: Darin	of 70976

Anyone know who FSI is? The reported a push out today: FSI sees lower sales, loss after delay in fab gear shipment MINNEAPOLIS--FSI International Inc. here today said it now anticipates lower-than-expected revenues for its third fiscal quarter, ending May 31, because a customer requested a delay in the shipment of chip-fabrication equipment. The company said it expects sales in the quarter to be between $50 million and $53 million. It also said it anticipates a net loss for the quarter of between $.10 and $.15 per share. In the same period last year, FSI reported sales of $67.5 million and a net income of $.25 per share. "While we are disappointed that we will not meet third quarter expectations due to the push out in the delivery of this equipment, we are encouraged by the improved order activity we are seeing," said Joel Elftmann, chairman and chief executive officer. "We believe that the third quarter will be the low point for sales in fiscal 1997 and expect an improvement in sales in the fourth quarter of fiscal 1997, ending Aug. 30." FSI said sales of $6 million associated with the delayed shipment of equipment will not be recognized in the current quarter. The company expects to ship the equipment as soon as the unidentified customer has secured the necessary funding. However, FSI said it may not be able to recognize this sale in the future if the customer cannot resolve those issues.

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