Re: Asia Warnings
I'll only post warnings one or two times per day. So none of these are hot off the press. Doesn't make a lot of sense to me because this kind of news really DRIVES the markets, but oh well. At least they were hot of the press for me.
These are about 4 hours or so old now. The last one doesn't specifically mention Asia, but I know for certain Asia has a major effect on the group it's in. I follow Qualcomm, Powerwave, Spectrian, Anandigics, etc. They all generally live and die together. Asia has hit this group hard.
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Woodhead Industries Expects Third Quarter Earnings Will be 24 to 26 Cents Per Share
DEERFIELD, Ill.---June 12, 1998--Woodhead Industries, Inc announced today that, based upon preliminary estimates, earnings for the third fiscal quarter ending June 27, 1998 are expected to be in a range of $0.24 to $0.26 per share (on a diluted basis). Earnings per share were $0.29 (on a diluted basis) in the third quarter of fiscal 1997.
C. Mark DeWinter, Chairman and CEO, stated: "Although the quarter has benefited from strength in sales in Europe and moderate increases in several core product lines, the improvement we anticipated in sales of Brad Harrison(R) products has not occurred. The continued weakness in demand in North America for the Brad Harrison(R) line appears to be the result of ongoing deferment in major project investment in the automotive, machine tool and material handling industries served by our various OEM customers. In addition, the Company's performance has been adversely affected by a dramatic slowdown of business in the Asian market."
Woodhead Industries, Inc. develops, manufactures, and markets specialty electrical and electronics products, primarily serving the industrial automation and control market with connectivity solutions.
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Devtek Reports Third Quarter Earnings
June 12, 1998-Devtek Corporation reported sales for the third quarter of fiscal 1998 ending April 30, 1998 were $109.8 million up 9.8 percent from $100.0 million for the same period in 1997. Net income from operations was $2.0 million or $0.10 per share on 19.7 million shares, a decrease from $2.5 million or $0.14 per share on 18.1 million average shares outstanding for the same period last year.
Devtek's automotive business segment was affected by a reduction in aftermarket sales caused by the downturn in the Asian markets, increased competition prompted by the consolidation of "power retailers" in the industry and product launch delays
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Celeritek Says Order Delays, Cancellations Will Impact Revenues in First Half Of Fiscal 1999
SANTA CLARA, Calif., June 12 Celeritek, Inc., a manufacturer of GaAs RIF ICs and subsystems for the wireless communications market, said today that order delays and cancellations by several customers will impact revenues in the first half of fiscal 1999. The company said that these customers were in the satellite and handset markets. "These delays in the implementation of our customers' new systems and products are not related to the components we have been supplying these customers," said Tamer Husseini, president and chief executive officer. "We would expect revenues in the first half of fiscal 1999 to be approximately 20 percent below those in the first half of fiscal 1998. As a result, we expect the company to report a loss for each of the first two quarters of fiscal 1999. We are monitoring our activity with these customers closely and reviewing appropriate expense control measures in view of these developments," he added.
Celeritek designs and manufactures GaAs RIF ICs and high frequency radio products for wireless communications. The company's products are used worldwide by leading manufacturers of wireless communications systems. |
