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Technology Stocks : C-Cube

CUBE 35.84

+1.4%

Dec 24 12:59 PM EST

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To: Stoctrash who wrote (24278)	10/23/1997 4:08:00 PM
From: John Rieman	Read Replies (2) of 50808

Philips semiconductors to expand.................................... news.com By Reuters October 23, 1997, 10:25 a.m. PT EINDHOVEN, Netherlands--Philips Electronics (PHG) said on Thursday its lucrative semiconductors division would continue to expand, either independently or in cooperation with others. "[Semiconductors] will definitely continue to expand either alone or with another [firm]. The amounts of money are getting very large and it might make sense to do that together with a partner," financial officer Jan Hommen told a news conference. Earlier, Philips reported a 42 percent jump in nine-month operating profits in its components and semiconductor division, driven by higher semiconductor revenues. Operating profits for semiconductors and components climbed to 1.7 billion guilders from 1.2 billion. "The semiconductor business was really helped in particular by the communications segment but also by the multimedia segment. They were very strong," Hommen said. "The main driver was that we had very high operating rates and price erosion was not that dramatic in the [third] quarter," he continued. Philips recently announced plans to open a new semiconductor facility in the Philippines. The company had been able to postpone other investments by raising capacity at existing plants with limited capital expenditure, Hommen said. Analysts were generally upbeat on the performance of Philips' semiconductors. "The semiconductor business cycle is on the up," said a London-based analyst. Story Copyright c 1997 Reuters Limited. All rights reserved.

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