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Technology Stocks : Electro Scientific???

ESIO 29.99

0.0%

Feb 1 4:00 PM EST

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To: michael c. dodge who wrote (409)	7/7/1998 10:10:00 AM
From: Box-By-The-Riviera™	Read Replies (1) of 723

Tuesday July 7, 9:36 am Eastern Time RESEARCH ALERT - Electro Scientific NEW YORK, July 7 (Reuters) - Salomon Smith Barney downgraded Electro Scientific Industries Inc. (ESIO - news) to outperform from buy, a market source said. -- the firm also trimmed its 1999 earnings estimate to $1.89 a share from $3.11 a share, the source said. -- Additional details were not immediately available. -- On Monday, Electro Scientific posted fourth quarter earnings of $6.3 million or $0.54 per diluted share compared with $7.3 million or $0.67 per diluted share a year ago. -- the company, which makes laser systems used in trimming and processing microelectronic circuitry, said its fourth quarter income was hurt by a shift of sales to lower margin advanced-packaging products and costs associated with the initial output of mechanical drilling products in Portland, Ore.

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