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Technology Stocks : Speedfam [SFAM] Lovers Unite !
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To: AJ Berger who wrote ()12/21/1999 9:40:00 AM
From: Mort  Read Replies (2) of 3736
 
This could be the begining of the recovery.

RESEARCH ALERT-Lehman cuts SpeedFam-IPEC estimates

December 20, 1999 09:17 AM
NEW YORK, Dec 20 (Reuters) - Lehman Brothers on Monday cut its earnings estimates for SpeedFam-IPEC Inc. SFAM but said it was confident the company was moving toward profitability.

-- cut its fiscal 2000 earnings estimate to a loss of 50 cents a share from a loss of 35 cents.

-- cut its fiscal second quarter estimate to a loss of 26 cents a share from a loss of 20 cents.

-- SpeedFam-IPEC is expected to report second quarter results on Tuesday.

-- Analyst Ed White said, "The improving order activity is more important to SpeedFam-IPEC's near-term story than the actual level of operating results. The better order activity gives us confidence that the company continues to move toward profitability."

-- Shares were up 1-7/16 at 13-1/8 in midday trading on Nasdaq.

((--Derek Caney, New York technology desk, 212-859-1860)) REUTERS
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