Robertson Stephens Reiterates Strong Buy Rating, Raises Estimates on KLAC
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 14, 2000--Robertson Stephens Managing Director and Senior Semiconductor Device Analyst Sue Billat, a 1999 Wall Street Journal All-Star Analyst, today reiterated her Strong Buy Rating and raised estimates on KLA-Tencor (NASDAQ:KLAC - news), after the company reported better-than-expected second quarter earnings. KLA-Tencor designs, develops, manufacturers, markets and services yield management and process monitoring systems for the semiconductor industry.
''We are reiterating our Strong Buy rating on KLA-Tencor, after the company reported operating earnings-per-share of $0.52, well ahead of our estimate of $0.48,'' said Billat. ''Strong demand across major product lines and geographies drove record bookings and shipments as customers continue to push for shorter lead times.''
''We are raising our fiscal year 2000 earnings-per-share estimate to $2.20 (from $2.02) on revenues of $1.376 billion and our calendar year 2000 earnings-per-share estimate to $2.78 (from $2.48) on revenues of $1.617 billion,'' said Billat. ''We anticipate sequential growth in orders and shipments in 2000 and believe that visibility has improved appreciably.''
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Robertson Stephens (www.rsco.com) is the leading full-services investment bank focused exclusively on growth companies. In 1999, the firm completed over 230 public offerings and over 40 private offerings, raising more than $40 billion in capital for clients. In addition, the firm advised on over 80 M&A transactions in 1999 with an aggregate value in excess of $50 billion. The firm's 47 equity research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens (Legal name: FleetBoston Robertson Stephens Inc.) is a section 20 subsidiary of FleetBoston Financial Corporation (NYSE: FBF - news) and a member of the NASD and all major exchanges. Together, Robertson Stephens, Fleetboston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. employ over 1,000 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago, London, and Tel Aviv.
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