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To: John Miz who wrote (1751)	10/21/1999 10:20:00 AM
From: John Miz	Read Replies (1) \| Respond to of 2126

Off Topic...But if you are looking at SemiConductor Equipment manufacturers, take a look at Electroglas (EGLS) Reported earnings of 18 cents per share, diluted, 12 cents above the 6 cent estimate. biz.yahoo.com SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 21, 1999--Electroglas, Inc. (Nasdaq:EGLS - news) reported operating results for its third quarter ended September 30, 1999. For the third quarter 1999, revenues were $34.7 million, up 17% from the immediate prior quarter and up 54% from the same period last year. Net income was $3.6 million, or $.18 per diluted share. This compared with net income of $1.1 million, or $.05 per diluted share, reported in the immediate prior quarter, and a net loss of $5.7 million, or $.30 loss per share, for the same period last year. During the quarter, the Company met the covenants and no longer was required to collateralize the financing of its new site construction project. At the end of the quarter, the Company had $133.2 million in total cash, up $12 million from the immediate prior quarter. ''The third quarter was a solid one for Electroglas,'' commented Curt Wozniak, CEO. ''Business activity was strong through the quarter as semiconductor companies ramped up production and reached high levels of capacity utilization. Bookings reached $41.4 million, a 21% increase from the last quarter and a 140% increase from the same quarter last year. Our book-to-bill ratio remained solid at 1.19, giving us increased backlog and good visibility into the fourth quarter. We are pleased to report that the recent earthquake in Taiwan did not impact Electroglas probers, and customers reported coming back on line as soon as power was restored. ''Also exciting for us was the introduction of several new products at the Semicon/WEST show in July,'' continued Wozniak. ''The EG4\|200 prober for the 200mm wafer size market has industry leading Z force and minimal deflection for advanced 'system on chip' applications. The EG5\|300 is an entirely new platform and architecture to take probing technology into the 300mm wafer size era. Both machines are targeted to be shipping in the first part of 2000. In addition, we completed development and are shipping the latest release of Knights Technology Yield Manager, Release 3.5. We were also very pleased that we signed a multi-year, multi-million dollar purchase agreement for Knights Cad-Nav navigation software for failure analysis labs with a major semiconductor manufacturer. ''On the manufacturing front, to enable Electroglas to have greater flexibility and leverage to meet rapidly changing customer demand, we initiated a restructuring of our manufacturing operation. For the last couple of years we have focused on developing 'lean' or 'just-in-time' manufacturing techniques to improve quality, inventory utilization and cycle time. In the third quarter, we also completed an asset sale of our sub-assembly and machine shop operations to Sanmina Corporation, a major company specializing in contract manufacturing services. We are very excited to enter this partnership with Sanmina to enable greater flexibility and purchasing leverage in our assembly operations. Our asset utilization, on-time delivery and quality all indicate we are at industry-leading levels in our prober manufacturing operations,'' concluded Wozniak.