Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 304.92

-0.1%

Dec 30 4:00 PM EST

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To: Return to Sender who wrote (9240)	4/2/2003 4:30:13 PM
From: The Ox	Read Replies (1) of 95652

Hi RtS, I view this as basically company specific. These 2 orders have chopped off 18% of their revenue guidance. A very substantial hit for a quarter. At the same time, I think it's clear that the industry isn't doing as well as many had predicted at the start of the year. We are still seeing some pushouts and cancellations throughout the industry. However, I think the big boys have more flexibility and an order here or there shouldn't cause this type of reaction and certainly wouldn't create this size of a revenue short fall. The problem for ASYT, as I see it, is their balance sheet. Shareholder equity is substantially less than "intangible assets". Looks pretty lousy and they can ill afford a big revenue short fall at this time. I would pass on them except for a trading bounce but I'm open to alternate views... Anyone have one?

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