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ANGUS Corrects the correction:
To: Paul Dieterich (14017 )
From: TI2, TechInvestorToo Tuesday, Feb 3 1998 8:10PM EST
Reply # of 14023
ANGUS SPEAKS, to a friend of mine and fellowshareholder. Angus reports the website is accurate and earnings this quarter are expected to be $0.09 - 0.14 per share. Reuters acted on their own and are incorrect, they will correct their incorrect correction! Oh well, it was nice while it lasted. On the other hand, the stock has been moving on the original news.
Angus also commented to my friend, that they have not made a decision to cancel conference call. It was reported that they were challenged by the high retail content of their shareholders (typically equipment companies are 80% institutional owners, cymer is about 50%) which means they have bigger IR task than planned. They are trying to figure out how to deal with this problem.
I also had my friend ask some questions I've been interested in, here are the answers:
Revenue is recognized at time of shipment from CYMI or delivery to customer dock depending on contract.
Lasers are integrated as part of the stepper build cycle (not at the end).
Build cycles are not short, can be 6mos.
Spares are sold directly to customer who can be end user or stepper fabricator to resell depending on contract.
They can not state when the $50M will/has been used but it will show up obviously in quarterly statement.
My friend reported that ANgus was open and cordial and acknowledged that they received feedback to improve the audio quality of the cc. He was quite pleased with the conversation.
TI2
Here is the website excerpt:
<"As a result of these factors, and based on information currently available to us, we anticipate a reduction in our revenues by 10 to 15 percent in the first quarter of 1998 from fourth quarter levels. We will closely monitor the situation going forward, consulting with customers on an ongoing basis to ensure that their laser inventory levels are in line with the current demand scenario," noted Akins.
Akins concluded, "1998 will be a year in which our plan is to further distance Cymer from the competition through increased investments throughout the year in: 1) aggressive R&D and manufacturing programs to develop and deliver the higher performance products that will enable higher average selling prices; and 2) further expansion of our global service and support network to support our growing installed based of DUV lasers in production. We currently expect that the investments needed to fund these critical future-oriented efforts, coupled with the anticipated revenue decline, will reduce our quarterly earnings by $0.10 - $0.15 per share in the first quarter of 1998, as compared to our just announced fourth quarter." > |
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