This post copied from AOL Motley Fool Cymer Board. As I haven't gotten the author's permission, I'm removing his/her ID. There is a typo: the author meant KrFl, not KyFl, I'm sure.
Subject: Conversation w/Leslie Cole
Date: Mon, Nov 3, 1997 14:28 EST
From: <Removed by ScotMcI>
Message-id: <19971103192801.OAA03445@ladder01.news.aol.com>
Leslie Cole with CYMER IR, 619-451-7149, called me back today.
Very sharp lady. Would not react or respond to any questions or comments I made relative to stock price or stock trading issues.
Here were points as I remember them--
1. There is lots of misinformation regarding CYMI, some showing up on MF and SI. CYMI IR would like to correct a lot of it but cannot for lots of reasons. Can correct if someone misquotes or fails to accurately represent what a CYMI spokeperson has said. I don't have any problem with this as a corp. policy.
2. In Jan 1997 CYMI had 1 building with 32,000 sq ft. This week has their opening, dedication, etc of their new manufacturing facilities, now equalling 4 buildings with 256,000 sq ft.
3. As of Dec 1996 CYMI had 336 employees. As of end 3rd 1997 CYMI had 726 employees. They are still hiring - 20 new employees went thru new employee orientation today.
4. CYMI is working two shifts on production facilities.
5. CYMI will not do press release on the AEA, it is not their event. I asked if they could do a press release on their presentation. Cole said only if new data was being presented which materially affected the company, so unless we can get a write up from the PR firm or some industry analyst reports we probably won't learn anything.
6. If I understood correctly, Cole said ArFl lasers are post 2000 production line technology and are in the qualification stage now.
7. There is no independently certified competitor to CYMI KyFL lasers. Komatsu has a record of inaccurate claims and it remains to be seen if they can deliver in the 1st 1998 as Komatsu projects. CYMI delivered 126 in 3rd 1997 and will deliver more than 126 in 4th and 1st 1998.
8. No customer of anything wants to be in a situation where they have only one supplier. CYMI expects competition because their customers want more than one supplier. However, CYMI believes it is capable of suppling the world wide industry need and has, as yet, has the superior product of the industry with no proven challenger.
My question-How could CYMI mgmt be so wrong as to significantly overbuild for 1998 or 1999 industry needs for lasers if there is any real chance of filling up stepper manufacturers' "pipelines"/inventories with 400-450 lasers in 1998 as MS and other analysts have stated?
Cole indicated they do not have any such impression from their customers.
My question--could you release a month production figure?
Cole said no, that CYMI will do nothing whatsoever which might in some way release or expose any data affecting their customers' operations, other than the quarterly figures which CYMI is required to do. CYMI might like to release monthly figures but will not.
My question--could your people respond to incorrect info which appears on MF or SI threads regarding your stock.
Cole indicated no, there is too much, legal exposure involved, however, CYMI's web site has the most recent data which CYMI releases and press releases appear there usually within 5 minutes of being released to the press. In fact the web site is faster than any faxing of information.
My conclusion, for what its worth, is where are the changes in fundamentals? There still doesn't appear any exist with the possible exception of Komatsu competition, and that, at the worst, isn't equal to 2 months production for all of 1998.
Can somebody give me a substantive reason why this stock is down? |
