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Technology Stocks : Cymer (CYMI)

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To: Curlton Latts who wrote (24265)	2/18/2000 12:15:00 PM
From: Curlton Latts	Read Replies (2) of 25960

Great news for Cymer!! The fundamentals remain superb as do industry conditions. semibiznews.com I know, "Curly that was posted two days ago". You're right, but given all the subsequent chit chat "spin" I thought it was important to declare my view after having researched the matter. I once worked for a CEO of a large company that went through difficult times. There was a lot of pressure to reduce costs and many employees and shareholders thought (and behind closed doors complained) that the CEO's private airforce should be reduced. The costs were running about $15 million per year and people didn't think it was right to initiate cutbacks anywhere without first attacking this area. Subsequently a great deal of agonizing reduction efforts were effected throughout the company resulting in much pain across all functions. There were substantial downsizing decisions made. An important meeting was called where the CEO communicated to the organization the results of the streamlining efforts. The CEO recognizing that esprit de corp was important in the organization gave a complete upbeat review of the recent decisions including the following on the aforementioned aircraft issue. *"We have sold the only* plane we owned".** Now, hearing that and reading that, what would you conclude? That the company had taken direct action to reduce aircraft costs significantly? No. That the CEO recognized that it was ludicrous to spend large amounts of wasted money while cutting the organization? No. That the shareholders would be better served for him to fly first class rather than private Gulfstream IVs? No. What really had happened was this. The company had 4 extremely expensive top of the line jets which were all being leased (each had its own pilot crew) and 1 older prop plane in the outback that the CEO never used that was owned. You guessed it. The company sold the prop plane which was the only plane owned for a minor amount of money and no cost savings. Of course the most expensive planes were all leased and all retained. To top it off the CEO had also at that very same time put in a $300 thousand deposit for a new Gulfstream V which had an 18 month waiting period. The moral of the story is don't listen to the spin. There are certain companies out there who are known to be spinmeisters and other companies that aren't. CYMI just performs. That's good enough for me. You can bet that all of these huge orders for >.25 equipment are generating huge business for the dominant market monopoly leader in DUV lasers. No one out there has the technical support and service organization to be anywhere close to getting much business. I'm a buyer here. Good Luck To Each And All Curly ~~~~~~~~^^ [6.6] ......> [_]

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