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Technology Stocks : PRI Automation (PRIA) -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (798)	9/10/1999 7:35:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 1214

Highlights from SSB presentation yesterday... Key Highlights 1. Breakeven expected in 1Q00 (Dec) 2. Still expect $40-50M in orders for September quarter 3. No change in guidance, comfortable with consensus estimate of ($0.18) for Sept. qtr. 4. However, entire body language points to good upsides. 5. What is remarkable is that in spite of the record semiconductor strength, the company is not seeing a major pull in of the 9-11 fabs on its planning horizon. Is the industry becoming less cyclical ?? We believe that the $1.5 billion sticker shock, the experience of 1995-1999 upturns/downturns and the imminent 300 mm transition may explain the reticence with respect to new fab announcements. Presentation Details 1. Revenue growth will be equally divided between new fabs and existing fab expansions 2. Still experiencing strong growth in 200mm fabs. Company expects a steady stream of older generation 200 mm and 150 mm fab upgrades. 3. Order visibility has improved to 2 quarters, which represents an improvement over visibility 3 months ago 4. Won 5 out of 8 orders competed for in 1999 5. Japanese competitors won 1 order each 6. ILC Planner and Scheduler should exit beta from TSMC/LSI Logic by early 2000 7. Japanese are undercutting prices to compete and no major change yet in their strategy. 8. 300mm fabs should represent a $100M opportunity, equally divided $25M between interbay, intrabay, tool automation, and software.

To: Ian@SI who wrote (798)	9/10/1999 7:36:00 PM
From: Ian@SI	Respond to of 1214

Edited at 7:50PM to include ASYT presentation details... In a blatant attempt to grub post # 800, the URL for the complete story is: smithbarneyresearch.com and here's part of what ASYT had to say... ASYT (3H, Price Target-$23, Price - $32.19) Key Highlights 1. Comfortable with mid $30M revenues and consensus est. of $0.01 for 2Q00 (Sept) 2. Company expects 20% plus growth in sales over next several quarters Presentation Details 1. Asyst strategy is focused toward providing solutions by integrating five areas: 1) isolation, 2) material management, 3) robotics, 4) transport and 5) software 2. Growth is expected to be driven by new 200mm fabs, fab upgrades, and 200mm expansions in the near term. 3. Company expects 95% of 300mm fabs to adopt isolation/automation technology. However, we note that 70%-80% of the new 200 mm fab expansions adopt SMIF already. 4. Asyst believes there is a $24M fab opportunity for its products consisting of $15M for I/O robotics, $5M for SMIFs, $2M for Auto ID, and $2M for software 5. No revenues are expected for PAT for 18 months. ++++++++++ for those who haven't followed the saga, PAT is Palo Alto Technologies, the former Asyst Automation that they wrote off, gave to their CEO, then bought back from him last month giving him a tidy profit, presumably for doing what he should have done as CEO of ASYT. It attempted to compete with PRIA, got thrown out of Siemens a few years ago, and hasn't been heard from until last month.