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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (17778)	4/4/1998 7:27:00 AM
From: Jerry Olson	Read Replies (3) of 50167

Hi IKE Just a follow up on what we have been discussing...found this on the YHOO Chat Site.... After the surprise warning I thought the cancelations were from ASIA, but it looks like INTC is the culprit...I do think we have not seen the bottom yet in the techs, but it will happen and sooner than later....buying opportunities will be there for the bottom fishers<G>..here's the post...<- Message 846 of 847 Reply Kulicke learned of order cancellation at 11AM yesterday ValleM Apr 3 1998 10:27PM EST Stock was running in the early morning poised to make a move through 25 pulled back slightly, flattened out and started pulling back after 3:30 PM. I spoke with the company at about 2 PM. I felt very uneasy. It was the first time they transferred me onto speakerphone. I immediately called Sue Billat at Robertson Stephens. She remained bullish on the company, didn't think they would preannounce but voiced some concerns. I didn't like the price action and felt very uncomfortable. I actually didn't learn of the order cancellation until 9:55 PM. I spoke again with the company at 8 AM this morning and liquidated my entire position before the conference call started. I knew it was going to be bad. Intel cancelled 158 8060 machines 30 million dollars in revenue gone. Klic immediately laid off 70 people with more layoffs to come. The Hyundai order has been pushed forward to the third quarter. It seems many companies can get by fine with the efficiences and pad pitch of their older machines and the newer $1000 dollar machines are less wire bonder intensive. Kulicke was blind sided. Intel is cutting 1 billion dollars in capital spending mainly amongst 5 companies, KLIC being one of them. Whats worse is there really was no bright spot. The company is struggling to make every quarter. Scott Kulicke now says Korea is a mess, Japan is slowing down and he really sees no pick up. His exact words when the Intel Vice Presidents called him was and I quote "YOUR SHITTING ME". This is a stock that is primarily owned by Institutions and it is very volitale. The company does not know if they'll lose 2 cents for the quarter or 8 cents or more. He gave no guidance what so ever and evaded many questions because he actually didn't know. The future at this point is uncertain at best. I certainly would expect many of you to be very mad at me. Some may find soliance in the fact that I lost a lot of my capital and it hurts, but I did always post the facts. At this point if the company does not know its future how can an analyst or money manager intelligently predict. This will be my last post here, at least for awhile. I sincerely feel bad and don't want to hear the critizism. But I still have an opinion and anyone wanting to speak with me can e-mail me at valle@hicom.net Good Luck! KLIC: Quote \| Profile \| Research This Is a Reply to: Msg 1 by YahooFinance <- Previous Next -> Message 846 of 847 Reply

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