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Technology Stocks : Semi Equipment Analysis

SOXX 306.28

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To: Sam Citron who wrote (7149)	11/26/2002 2:04:50 PM
From: The Ox	Read Replies (1) of 95525

OT No Sam, that is not correct. Burn rate for CORV last quarter was down to about $36 million and they have targeted reductions to bring this figure down substantially next year, to about $25-30/avg for CY 03. My guess is that their burn rate for all of 2003 will be about $130 million. They ended the Sept qtr with $548 million in cash and they will end the year with over $500 million which would suggest that they will end 2003 with close to $400 million - or just slightly below $1/share. You are absolutely correct about their horrible revenue numbers but they have plenty of cash to survive for the next few years.

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