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Politics : Formerly About Applied Materials

AMAT 252.25

+0.9%

Nov 28 9:30 AM EST

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To: Proud_Infidel who wrote (40267)	12/1/2000 4:07:48 PM
From: Ian@SI	Read Replies (1) of 70976

Brian, Can't speak re CYMI, I've quit following it as I've been out of it for most of the year. PRIA got absolutely trashed not once but twice in the last 3 or 4 months not because of a drop in outlook, but rather because customers ordered their new 300mm product (TurboStacker) for installation in 200mm fabs - something which PRIA hadn't anticipated and couldn't manufacture efficiently. This screwup stemmed from a very successful showing at Semicon West in July. 300mm Turbostacker is standardized across the industry. 200mm versions have to be customized for each fab (almost). In the Nov 21st conference call, PRIA confirmed its outlook and confirmed that it had pretty well cleaned up the manufacturing mess; that all would be fine by 1Q2001. Today, they announced that they've taken a 12% position in a Korean manufacturer that is already building the Turbostacker for the Asian market; and that they have options to acquire 19% of that company; and that it only cost them $12M to get that ownership. Net: PRIA has increased its manufacturing capacity, reduced its manufacturing costs, and is likely to substantially exceed current estimates for the next couple Qs. i.e. - the raincloud hanging over its head is rapidly dissipating. ... or at least that's my take on it. Ian.

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