All, RE: ASMLF/Hyundai deal and its effect on Cymer:
asml.com
The original order (best thread guess) was a 3:1 i-line to DUV ratio.
Ballpark assumptions:...................Cymer's cut
1) i-line steppers 5 million...............0.00
2) DUV stepper 6.5 million...............430,000
For 170+ million you can:Buy 24 i-line * 5,000,000 = 120,000,000
.........................8 DUV........ * 6,,500,000 = 52,000,000
__________________________________________________________________
...........................................Total.......172,000,000
Cymer realizes 8 * 430,000 = 3,440,000 in revenue under the old deal.
NEW DEAL : calls for all DUV. $172,000,000/ 6,500,000 buys you aprox. 26 new Excimer Powered DUV steppers.
Cymer realizes 26 * 430,000 = 11,180,000 in revenue.
...............................Old deal.............New deal
Revenue........................3,440,000...........11,180,000
N.I. (12.5% of rev)...............430,000...........1,397,500
EPS................................0.0143.............0.0466
EPS based on 30,000,000 million shares out standing, could very well be lower with share buy back. The new terms of this deal alone will boost Cymers year end EPS by 0.03 conservatively. Jay D. of MS is going to have to bump his year end 98 CYMI est up to 0.43. <g>
This doesn't take into account any service are spares revenue.
Regards,
Denis
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