Ultratech Stepper Message Board

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Technology Stocks : Ultratech Stepper

UTEK 30.23

0.0%

Jun 5 5:00 PM EST

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To: Carl Mays who wrote (2800)	10/24/1998 2:30:00 AM
From: Tom Murphy	Read Replies (1) of 3696

Carl, to me the proof is in the earnings report. They missed estimates badly, revenues down 60%. Gross margins almost evaporated (they must have been giving away product just to do the $12m)...Layed off 20% of the work force in August...Everybody else has to take a few days off every month with no pay....All these guys are doing is trying to preserve capital to survive...Even if the new products in the pipeline flush out (I also noticed R&D expenses are flat to down), there won't be any revenue until the second half of 99....I think UTEK's got at least two more very ugly earnings reports in its future. I am not wishing them bad, but they may never regain their previous market position.

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