VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: Hashem Akbari who wrote (4468)	9/29/1998 6:57:00 PM
From: Hashem Akbari	Read Replies (4) of 6565

I just talked with the IR of VLSI. According to Mr. Mehta (sp?), Bala (CFO) is leaving the company as of this Friday! It is not the policy of VLSI to make announcements on people resigning. Supposedly, Bala has got a better offer from another company. The controller of VLSI will "ass"u"me" the CFO's responsibilities. It is the CEO's top priority to put a new management team together. There has been a board meeting in August. VLSI has bought a million shares within the last two months. Because of repricing the stock options, the dilutional effects of "in the money" options is canceling the impact of the buyback. Revenues for the company "grow" 5% sequentially in Q4. The company will not have an operating loss in Q3. (That tells me they will have bottom-line loss, mainly coming from laying off 190 people). Their relationship with Ericsson is great but Ericsson is losing market to Nokia. The potential for velocity is great. There is only so far one "major" bay area manufacturer who has requested 10-20 Velocity boards. If all works as hoped, this manufacturer brings in $50M RVU within the next three years (total). VLSI is not in the verge of bankruptcy! The moral in the company is "no worse than what it was last year". These are all I remember. I requested a copy of the minutes of the August board meeting. One last thing, on Rich Beyer's resignation, Sunil said that he was brought in two years ago to become CEO in two years. However, given the condition of the company, Mr. Stien was not ready to step down (or up). Hashem

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