Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 229.78

-0.5%

11:48 AM EST

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To: Q. who wrote (6302)	7/16/1998 9:08:00 PM
From: Phantom Dialer	Read Replies (1) of 10921

The List.... SVGI has about $5.35 in cash and trades at 15.75....they have 0 debt They annoucned yesterday that they are laying off 20% (700 workers) and taking a 3 million charge on next q earnings but said they are still going to invest in r&d as scheduled...the reason? ...asia Thursday July 16, 10:32 am Eastern Time Silicon Valley cuts jobs, takes charge SAN JOSE, Calif., July 16 (Reuters) - Silicon Valley Group Inc. on Thursday said it plans to cut 711 employees from its payroll, or 21 percent of its global workforce, resulting in a pre-tax charge of $3.0 million to earnings for its fiscal fourth quarter ending September 30. ''We are experiencing a continuing downward trend in order rates as part of the cyclicality of the semiconductor industry as a whole, as well as a weak yen exchange rate,'' Papken Der Torossian, chief executive officer, said in a statement. Silicon Valley Group supplies automated wafer processing equipment to makers of semiconductor. The company said the job cut is just one of many cost-containing measures it has taken recently, including a hiring freeze for some jobs and discretionary spending cuts. The company also scheduled a 15-day shutdown in the second half of its current fiscal year. Lastly, Silicon Valley noted that although it is cutting jobs and expenses, it continues to invest in engineering and product development. --------------------------------------------------------------------------------

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