IDTI - an IC Play on Growth Markets Message Board

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Technology Stocks : IDTI - an IC Play on Growth Markets

IDTI 48.99

0.0%

Mar 29 5:00 PM EST

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To: Rob S. who wrote (11452)	12/4/2002 11:54:39 PM
From: Return to Sender	Read Replies (1) of 11555

Integrated Device Technology (IDTI ): Downgrades to 2 STARS (avoid) from 3 STARS (hold) Analyst: Thomas Smith yahoo.businessweek.com The company warned that December quarter revenue would be likely to fall 12% to 14% quarter over quarter, vs. the prior guidance of a 5% to 7% decline. Demand remains soft and customer inventory adjustments hurt results. The company reduced its staff by 5% in October. Integrated Device guided pro forma December quarter earnings per share to a loss of 17 cents to 21 cents; about eight cents to 10 cents of this loss is derived from one-time costs that are unlikely to be repeated. Also, the company is lowering its pro forma earnings estimates to a 30 cent loss from a 10 cent loss for fiscal 2003 (March), and to breakeven from 15 cents earnings per share for fiscal 2004. Given the earnings setback, shares might retreat to a historical low valuation near 0.7 times its book value of $9.29.

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