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Technology Stocks : Artesyn Technologies (ATSN)
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To: JakeStraw who wrote (589)10/17/2001 3:54:31 PM
From: rich evans  Read Replies (1) of 603
 
ATSN, had a long cc and discussed outlook. Their products go into all sectors and their customers are the whos who of wireless, storage, servers, telecom/network. Business was down 40% year to year for the quarter. But new orders had returned to create stabalization to reflect true end user demand at the present levels. But their is a pickup beginning in wireless, storage, servers business. The bad news is that telecom is still declining very slowly with inventroy excess still existing. ATSN is projecting a flat Q4 and a modest improvement in 2002. They have closed 3 plants, and let go 36% of workforce but are keeping engineers and R/D going. All in all no more down much but not much up either.But they will need to do more outsourcing with the EMS industries if business gets back to 2000 levels as they won't have the capacity having downsized. Another look at tech from a company which should have an early look.
Rich
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