EGLS warns:
Electroglas Announces Preliminary Third Quarter Results
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 6, 2000--Electroglas, Inc. (Nasdaq:EGLS - news) today announced preliminary results for the third fiscal quarter ended September 30, 2000. Revenue is estimated to be approximately $58 million, about 40% greater than the third quarter of 1999, and diluted earnings per share are estimated to range from $.49 to $.52 compared to $.18 reported in the third quarter of 1999. This estimate is below consensus estimates of $.58 per diluted share for the third quarter.
Commented Curt Wozniak, CEO of Electroglas, ``Within the quarter, our prober manufacturing operations experienced materials shortages from some vendors that did not get corrected in time to meet scheduled customer shipments. The rapid growth of shipments during this expansion cycle has stretched our vendor base. We have instituted plans to address the capability of our vendor base in the coming quarter. In addition, our Inspection Products business missed expected shipments due to customer order timing and manufacturing lead-time associated with our new inspection products. While these events caused an interruption in our improving revenue and earnings stream, our order rate for the third quarter should meet or exceed the $61 million recorded in the second quarter.''
Electroglas' third quarter financial results will be released on Thursday, October 19, at 6:00 a.m. PT/9:00 a.m. ET. Information on the conference call, webcast and replay are available on the Electroglas web site, www.electroglas.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements including statements about estimated third quarter financial results and plans to address materials availability, vendor capability and order rates. The forward-looking statements involve risks and uncertainties including, but not limited to, final accounting review of third quarter operating results, and our vendors being unable to respond timely to our increased demands on them. Electroglas assumes no obligation to update this information. Readers should also refer to risk disclosures in Electroglas' SEC filings, including its most recent Annual Report on Form 10-K for the year ended December 31, 1999 and its quarterly reports on Form 10-Q filed for the quarters ended March 31 and June 30, 2000.
About Electroglas: Electroglas delivers essential tools for process management designed to enhance semiconductor companies' profitability. The Company's wafer probers, inspection systems and software solutions serve as data collection, management and analysis tools that semiconductor manufacturers depend on to improve their productivity and process control by optimizing sort-floor efficiency. Electroglas has been a leading supplier of wafer probers for over 35 years and has an installed base of more than 10,000 systems. The Company's stock trades on the Nasdaq National Market under the symbol EGLS. The Company's World Wide Web site is located at electroglas.com. |
