Varian Semiconductor Equipment Associates -- VSEA Message Board

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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA

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To: Proud_Infidel who wrote (1406)	6/11/2001 8:12:42 PM
From: Proud_Infidel	Read Replies (2) of 1929

Varian Semi Lowers Revenue Outlook NEW YORK (Reuters) - Varian Semiconductor Equipment Inc. (NasdaqNM:VSEA - news), a maker of tools used in the production of microchips, on Monday warned that fiscal third-quarter revenues would fall below earlier expectations as a result of continued weakness in the chip industry, and said it has cut 20 percent of its work force since Jan. 1. The company, whose devices shoot out ion beams to alter the surfaces of semiconductor materials, said it has also planned a two-week shutdown in July. Revenues in the quarter ending June 30 are expected to fall 30 percent to 35 percent from a year ago to between $125 million to $135 million, more than the 25 percent drop previously forecasted. A glut of microchips and sluggish demand has slashed sales of equipment used to produce new chips. Earlier Monday, DuPont Photomasks Inc. (NasdaqNM:DPMI - news) whose plates project images of microchips onto silicon wafers, said it expected an earnings shortfall in the fourth quarter and would cut 6 percent of its staff. Shares of Varian Semiconductor fell $2.37, or 5.6 percent, to $40.09 on the Nasdaq, off a 52-week high of $68.00.

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