Cymer Expects Second-Quarter Results to be in Line With Most Recent Guidance
SAN DIEGO, June 10 /PRNewswire-FirstCall/ -- Cymer, Inc. (Nasdaq: CYMI - News), the world's leading supplier of excimer light sources used in semiconductor manufacturing, today announced that it expects second-quarter 2002 operating results to be in line with the guidance provided in the company's earnings release and conference call on April 23, 2002.
Bob Akins, Cymer's chairman and chief executive officer, noted, "As of today, the second quarter has developed according to our expectations. We continue to expect that total revenue in the second quarter of 2002 will increase between 15 and 20 percent over the $61,983,000 in revenue posted in the first quarter of this year. We also expect our foreign currency adjusted average selling price to be in the $725,000 range and gross margin to be in a range of 45 to 48 percent. We are also targeting research and development spending to be at approximately 23 to 25 percent of revenue, and anticipate that selling, general and administrative expenses will be approximately 11 to 13 percent of revenue. We estimate the annual effective tax rate for 2002 will be 27 percent. We will report results for the second quarter of 2002 before the market opens on Monday, July 22." |
