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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA
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To: Henry D who wrote (1295)1/30/2001 11:12:40 PM
From: Red Heeler  Read Replies (3) of 1929
 
Hi Henry,

I'm not an attorney but no one has answered your post so I thought I'd give you my take on the lawsuit; it hasn't affected VSEA the stock and it certainly hasn't affected VSEA the company. If you'll look past the malicious and self-serving FUD of ima_posterior2 and danteCrisco this is what you'll find:

Look at VSEA compared to the SOXX and other related companies and you'll see that VSEA is performing pretty much as one would expect for a company in its industry sector. The lawsuit hasn't affected the stock price at all.

But, more importantly, look at the blowout earnings report issued by VSEA on Thursday. The company reported a first quarter revenue increase of 108% with net income reaching $40.1 million, or $1.20 per diluted share. This beat consensus estimates by a whopping $.24 cents and was a vast improvement over the year ago quarter when the company earned $0.16 per diluted share. VSEA CFO Ernest L. Godshalk, explained, "Our record operating profits are a result of improved gross margins and expense control. We remain optimistic about our long-term prospects because of our gains in market share and increasing profitability. For the near term, in view of the uncertain economic outlook, while we continue to invest in R&D, we are reducing overhead and imposing strict spending controls, which further improve our operating leverage."
VSEA has a 59% market share in the 300 mm ion implant market. It's an estimated 23% long-term grower trading at only 7 times earnings and one times sales, while owning a pristine, debt-free balance sheet.

I think we'll see VSEA in the fifties before the year's out, lawsuit or not.

Regards,

CC
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