Celeritek(CLTK)- earnings up 1300% Message Board

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Technology Stocks : Celeritek(CLTK)- earnings up 1300%

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To: Johnathan C. Doe who wrote (176)	6/12/1998 5:49:00 PM
From: Richard H.	Read Replies (1) of 212

Maybe more than that... SANTA CLARA, Calif., June 12 (Reuters) - Celeritek Inc. said Friday it expects losses and lower revenues in the first two quarters of fiscal 1999 due to delayed and canceled orders from customers. The first and second quarters of fiscal 1999 end in June and September of this year, respectively. The company said in a statement that customers who canceled or delayed orders were in the satellite and handset markets. Wall Street analysts had expected earnings per share at the radio products company to be $0.09 in the first and $0.17 in the second quarters. ''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,'' President and Chief Executive Officer Tamer Husseini said in a statement. ''As a result, we expect the company to report a loss for each of the first two quarters of fiscal 1999.'' In last year's first quarter, Celeritek reported sales of $12.6 million and net income of $956,000, or $0.13 a share. Celeritek posted earnings of $1.05 million, or $0.14 a share, from sales of $13.5 million in last year's second quarter.

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