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Technology Stocks : Sonic Blue (SBLU)

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To: REH who started this subject	6/13/2001 4:04:21 PM
From: REH	of 57

Sonicblue Cuts Its Work Force By 30% in Push for Profitability Associated Press SANTA CLARA, Calif. -- Sonicblue Inc. said Tuesday it has cut its 813-person work force by 30% as part of a plan to achieve profitability by early 2002. The digital-media technology company said it will take a $120 million charge to cover the cutbacks, excess inventory, and other asset write-offs. It also projected a 50% annual revenue-growth rate over the next two years. In addition, the company said it intends to "monetize" about half of its holdings in United Microelectronics Corp., a chip subcontractor. Sonicblue said its UMC holdings currently are worth about $500 million. The company, whose product line includes Rio MP3 audio players, was formerly a graphics-chip maker but reinvented itself a year ago through a series of acquisitions. Its latest acquisitions, of Sensory Science Corp. and ReplayTV Inc., are expected to officially close during the current quarter.

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