Varian Semiconductor Lowers Revenue Estimate
By TSC Staff
3/5/01 5:55 PM ET
Varian Semiconductor (VSEA:Nasdaq - news) expects revenue for the second quarter to come in below the company's previous guidance, citing a spending slowdown by its customers, but held on to the hope of some measure of growth.
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For the quarter ending March 30, the Gloucester, Mass., company said total revenue will increase no more than 10% from the same quarter last year, when the company reported a top line of $156 million. Previously, Varian, a maker of ion implantation equipment used in semiconductor manufacturing, expected revenue to increase 15% from a year ago.
First Call/Thomson Financial carries an estimate from only one analyst, who expects the company to report revenue of $206 million for the second quarter. Eight analysts expect earnings of 71 cents a share for the second quarter, up from a profit of 50 cents a year ago.
"Although some customers have asked us to delay deliveries and a few have cancelled orders, we believe we are maintaining our market share gains of the last year," the company said in a statement.
For the remainder of fiscal 2001, the company expects total revenue "to be in line with industry performance." Still, Varian said it is "no longer able to provide guidance for the fiscal second quarter or full year regarding such factors as gross margin, operating expenses as a percent of revenue or net income." |
