Silicon Valley Group Announces Lower Business Volume
Tuesday March 10, 8:07 am Eastern Time
Company Press Release
SAN JOSE, Calif.--(BUSINESS WIRE)--March 10, 1989--Silicon Valley Group, Inc. (NASDAQ:SVGI - news) 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. |
