With peers like this below, SVGI better put out good results to keep riding high!
Monday September 11, 6:05 pm Eastern Time
PRI Automation sees lower-than-expected Q4 results
BILLERICA, Mass., Sept 11 (Reuters) - Semiconductor industry supplier PRI Automation Inc. (NasdaqNM:PRIA - news) said on Monday its fourth quarter results would come in far below analysts' expectations, citing supply chain problems in its factory systems division.
The Billerica, Mass.-based company, whose hardware and software helps the flow of production at semiconductor factories, forecast about $84 million in revenues for the quarter ending Sept 30, down about six percent from last quarter's $88.9 million.
That shortfall would translate into net income ``slightly above break-even,'' excluding special charges, the company said. Analysts surveyed by market research firm First Call/Thomson Financial were expecting PRI Automation to earn 52 cents per share for the period.
``We have identified the areas that need to be fixed and have established the teams to implement the changes and accomplish the turnaround,'' Mitch Tyson, PRI Automation's president and chief executive, said in a statement.
PRI Automation blamed manufacturing, capacity and supply chain problems relating to a its TurboStocker product, which was scheduled to move into high volume production during the quarter. Even with the setback, fiscal 2000 revenues should come about 125 percent above fiscal 1999 revenues, the company said. It said fiscal 2001 revenues are expected to grow more than 40 percent over fiscal 2000 |
