SAN JOSE, Calif.--(BUSINESS WIRE)--March 10, 1989--Silicon Valley Group, Inc. SVGI a leading supplier of front end wafer processing equipment to the global semiconductor industry reported that due to the timing of customer requirements for delivery of equipment, it expects earnings in the second quarter ending March 31, 1998 to be 25% lower than analysts' expectations. Due primarily to current financial difficulties in the Asian market and their effect on the company's current and prospective customers in the semiconductor market, the company believes based upon current visibility, shipments in the second half could be 15-20% lower than those in the first half of its fiscal year. "Although backlog at Dec. 31, 1997 was primarily concentrated in the United States and Europe, the company had been relying on securing orders for shipment this fiscal year of its advanced lithography product, Micrascan, to Korea," said Papken Der Torossian, Chairman and Chief Executive Officer. "Given the uncertain business environment in Korea, the company believes that Asian volume orders for its Micrascan product will be delayed." The company remains committed to the expansion of its lithography operations' production capacity and believes Micrascan's current and future deployment in the production of critical layers of semiconductor devices for the global market will continue. The projections of fiscal second quarter and second half results discussed in this news release may be considered forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainties as to the nature and extent of difficulties in Asian markets, the future demand for the company's Micrascan product in Asia and in the semiconductor market generally, pricing competition, any increase in lithography's manufacturing capability, and other risks detailed from time to time in the companies' SEC reports. SVG assumes no obligation to update the information in this release. About Silicon Valley Group, Inc.: SVG is a leading manufacturer of automated wafer processing equipment for the worldwide semiconductor industry. The company designs, manufactures, and markets technically sophisticated equipment used in the primary stages of semiconductor manufacturing. Its products include photoresist processing equipment; oxidation, diffusion and low-pressure chemical vapor disposition processing systems; and photolithography exposure tools that use step-and-scan technology. SVG is listed on the Nasdaq Stock Market under the symbol SVGI. The company's world wide web address is: www.svg.com. About SVG-Tinsley: SVG Tinsley designs and manufactures precision optical components, assemblies and systems, including optical instruments, aspheric lenses, metal mirrors and color television tooling products. The company also manufactures and distributes video, cinematography and camera lenses.
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