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Technology Stocks : Mattson Technology -- Ignore unavailable to you. Want to Upgrade?

To: John Stewart who wrote (1530)	7/23/1999 6:15:00 PM
From: James Calladine	Read Replies (2) \| Respond to of 3661

Hi John, "Our revenues came close to our previous peak of $24.5 million set in Q4'97, just prior to the recent industry downturn." This a quote attributed to Brad Mattson in the Press Release. My immediate reaction was "Are you trying to tell us that this is now just prior to the next industry turndown.....?" It seemed like a very inept way to celebrate an excellent financial result! I don't see the action in the market indicating a huge pent up demand for Mattson that will translate into higher prices, and barring anything else happening it looks like downward drift time again.... How do others read the present mood? Good luck to all. Long Mattson. Jim

To: John Stewart who wrote (1530)	7/23/1999 9:15:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 3661

John, I fail to understand why you would believe that a microcap such as MTSN could ramp up manufacturing capacity, manufacturing staff, inventory, marketing and sales staff for all the new product lines and all the new products and still bring a large profit to the bottom line. You, of all the posters here, I thought fully appreciated the process for starting up a new company. Brad seems to have a vision of being a major Semi Equipment sector player. He also seems to understand that he either succeeds on this next up leg or the odds get stacked against him. If I were to sell now, I think I'd be snatching defeat from the jaws of victory. Most of my current position has been acquired at less than 1/2 MTSN's current price. While I could exit with a very handsome profit, it seems to me I'd be leaving much more money on the table than I'd be taking off. Is there something about the story that you don't like other than the lack of a bigger bottom line at this time? Ian.

To: John Stewart who wrote (1530)	7/23/1999 9:29:00 PM
From: Philip W. Dunton, Jr	Respond to of 3661

John S. Your point is well taken. I made the same point after the last quarter, when the guidance given in the cc was for rapidly increasing revenues but no more than break even results for Q2 and Q3. I raised this issue and referred to it as profitless prosperity. At that time, it was explained to me as the cost of ramping up production. Isn't that still the case? Even the top tier chip equipment companies aren't making much in the way of profits yet. I have to admit I was disappointed in the projection of break even results for the 3rd quarter. Phil