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 (1411)	6/12/2001 2:53:04 PM
From: Proud_Infidel	Read Replies (2) of 1929

RESEARCH ALERT - Robertson cuts Varian 2001 estimate NEW YORK, June 12 (Reuters) - Robertson Stephens lowered its 2001 earnings estimate for Varian Semiconductor Equipment Inc. (NasdaqNM:VSEA - news) on Tuesday after the microchip tool maker laid off 20 percent of its workers and warned third-quarter revenues will miss Wall Street estimates. In a research note, Robertson reduced its 2001 earnings estimate to $1.83 per share from $2.03 per share. It noted Gloucester, Mass.-based Varian anticipates third-quarter revenues to decline 30 percent to 35 percent sequentially to $125 million to $135 million compared to its previous guidance of a sequential decline of 25 percent. ``As long as revenues exceed the $100 million mark we expect the company to remain at break-even level,'' the note said.

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