SMIT (Schmitt Inds)likely to post 400% earnings gain YoY Message Board

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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY

SMIT 0.0155

+3.3%

Oct 14 2:00 PM EST

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To: MANNLAKE who wrote (63)	10/7/1996 10:06:00 PM
From: Michael Greene	of 276

Steve, I spoke with Linda Case today to get clarification about the "exclusivity" of the Veeco arrangement. She said that Veeco has an exclusive right to distribute Schmitt's SURFACE measurement systems including new applications beyond hard disks and wafers. However, this agreement does not include other optical measurement applications nor laser alignment systems. She agreed that the 1Q results were disappointing but attributed this to lack of performance on the part of the laser marketing group which has now been terminated and replaced by Veeco. This rings somewhat true since I believe that this was the same group in Montana which never did much of a job of selling the product before Schmitt purchased this division. Veeco is certainly much better positioned to market these products. She said that Veeco is very excited about sales prospects and has indicated that 100 in the next year may be too low. I asked if SMIT is going to lower their May 31 estimate for Fiscal 97 of $12mil in revenue and $0.40/share in light of the weak first quarter. She said that no revision is planned YET. She claimed that they have been receiving a very enthusiastic response to the wafer measurement system. They also sold their first TMS-3000W system last week plus two TMS-2000W systems.

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