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Technology Stocks : PRI Automation (PRIA)

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To: Proud_Infidel who wrote (1133)4/2/2001 2:38:47 PM
From: Alan Gallaspy  Read Replies (1) of 1214
 
Morgan Stanley thinks PRI has hit bottom.

PRI Automation (PRIA-$17-O) F2Q01 Negative Pre-Announcement Jay Deahna/Steven Pelayo

F2Q01 rev to be $84-86MM. Our forecast was $100MM and guidance was $100-105MM.
EPS loss to be $0.40-0.45. Our forecast was $0.20 and guidance was $0.15-0.20.
Push outs, cancellations and plant transition drive negative leverage. PRIA is ramping a new plant and received deferral requests on initial products.
We maintain our Outperform rating. We believe a bottom may have been reached. At $14, PRIA hit 1.1x trailing 12-months sales per share, in-line with the all-time low from 1998.
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