Re: Asia Warnings
I think I missed one or two today. MS Investor was acting up. So editing today was a pain. I noticed I missed what a couple of the companies even do.
MikeM(From Florida)
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Kulicke sees Q3, Q4 below expectations
WILLOW GROVE, Pa., June 17 (Reuters) - Semiconductor equipment maker Kulicke & Soffa Industries Inc. said Wednesday its third quarter loss would be greater than the $0.03 per share expected by analysts, and fourth quarter losses would be even worse. It cited weaker business across the board.
The company also said it expects sales for the entire second half to be below its earlier expectations. "Business has weakened during the past two weeks across the board," C. Scott Kulicke, chairman and chief executive officer, said in a statement. "This recent change in demand is expected to result in June quarter revenues falling below $100 million and September quarter sales lower still." He added, "The company anticipates a loss in the June quarter somewhat greater than the current First Call consensus estimate of $0.03 per share and currently expects an even greater loss in the September quarter."
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Harman Intl sees FY98 below expectations
NEW YORK, June 16 (Reuters) - Harman International Industries Inc. said on Tuesday it expects to report earnings in fiscal 1998 in the range of $2.80 to $3 per share, below analysts' estimate of $3.06 per share according to First Call. "For the full year we will have lost $90 million in sales in Asia plus $60 million in sales in Europe and North America arising from Asia related currency impact," said Sidney Harman, chairman of Harman, in a statement.
Harman, a maker of hi-fi audio and video equipment and electronic components, blamed the 1998 results on weaker currencies in Asia and Europe, a soft electronics market, the economic crisis in Asia and a strike in Denmark.
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Dexter sees Q2 EPS flat vs year-ago $0.69
WINDSOR LOCKS, Conn., June 17 (Reuters) - Dexter Corp. said it expected second quarter earnings to be essentially flat with the $0.69 per diluted share seen in the year-earlier period due to ongoing announcements by several of the company's major electronics customers to reduce inventories, take extended shutdowns and implement layoffs.
It said in a statement that it expected overall sales growth for the quarter to be in the 2 percent to 3 percent range compared with the 6 percent increase seen in the first quarter. Sales to the electronics market in the second quarter were expected to fall about 10 percent to 12 percent from the prior year, excluding acquisitions. Due to economic weakness in Asian markets and excessive inventory of electronic components, the company's global customers have sharply reduced their second quarter purchases to levels below those of a year ago, the company said. It added that it saw the market constraints as temporary.
The company said the slowdown in the electronics market may endure for the remainder of the year, which would impede the company's ability to deliver double-digit earnings growth in 1998 despite the overall performance of other Dexter businesses meeting expectations.
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Sealed Air sees 98 Q2 results below Q2 97
SADDLE BROOK, N.J., June 17 (Reuters) - Protective packaging maker Sealed Air Corp. said Wednesday its second quarter sales and earnings were hurt by weaker foreign currencies, sluggish sales in Asia and a charge. The company said in a statement that it expects to report sales in the second quarter in the range of $650 to $670 million, below the prior year's sales of $675 million on a pro forma basis. "All aspects of the business are being reviewed, including the carrying value of the company's assets, especially given the weakness in Asia," said Sealed Air's chairman and chief executive T. J. Dermot Dunphy.
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Cerprobe Anticipates That Second-Quarter Results Will Fall Below Wall Street Estimates
GILBERT, Ariz.---June 16, 1998--Cerprobe Corp. (Nasdaq:CRPB) Tuesday announced that it expects financial results for the company's second fiscal quarter, ending June 30, 1998, will be below current Wall Street analysts' estimates. The company expects to report net sales ranging from $18.0 million to $19.0 million and net income of near breakeven. Cerprobe attributed the sales shortfall for the second quarter to continuing softness in the worldwide demand for semiconductors, coupled with ongoing uncertainty about business conditions in Asia. The company also operates international subsidiaries: Cerprobe Europe, Limited in Scotland and Cerprobe Asia in Singapore and Taiwan.
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