Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Sultan who wrote (61)	2/25/2000 1:24:00 AM
From: pat mudge	Respond to of 328

Dow Jones summary: February 24, 2000 Dow Jones Newswires GSI Lumonics 4Q Net 12c/Shr Vs Loss 15c On Chgs GSI Lumonics Inc. - Kanata, Ontario 4th Quar Dec. 31: 1999 1998 Sales $88,667,000 $33,982,000 Net income a 4,239,000 b (2,580,000) Avg shrs (basic) 34,222,000 17,044,000 Avg shrs (diluted) 35,755,000 17,044,000 Shr earns (basic) Net income a .12 b (.15) Shr earns (diluted) Net income a .12 b (.15) Figures in parentheses are losses. a. Includes an asset sale gain of $1.6 million. b. Includes $64,000 in restructuring charges. GSI Lumonics Inc. (GSLI) was formed on March 22 through the merger of General Scanning and Lumonics. Latest quarter results aren't comparable with 1998 results, which only reflect the operations of Lumonics. The company said it reports in this fashion to conform with generally accepted accounting principals and to reflect the purchase accounting method used in the merger. GSI Lumonics said it expects "strong" results in 2000, citing rapid improvements in market conditions during the second half of the year. A First Call/Thomson Financial survey of eight analysts produced a mean earnings estimate of 49 cents a diluted share for GSI in 2000. The provider of manufactuirng systems also projected "positive" results in the first quarter, but warned the period often reflects weaker earnings and revenue than its preceding fourth quarter. A First Call survey of three analysts produced a mean earnings estimate of 8 cents a diluted share for GSI's first quarter. GSI Lumonics also said it plans to make further investments in its optic-design and manufacturing operations, increasing current capacities to meet market demands, but didn't quantify them. The company expects sales from its telecom optics business to more than double in 2000, which could represent about 3% of overall sales for the period. GSI also plans to commit an undisclosed amount of capital, including 10% of this year's sales, to research and development to improve its "technological underpinnings." GSI Lumonics Inc. - Kanata, Ontario Year Dec. 31: 1999 1998 Sales $274,550,000 $144,192,000 Net income c (34,774,000) d (7,916,000) Avg shrs (basic) 30,442,000 17,079,000 Avg shrs (diluted) 30,442,000 17,079,000 Shr earns (basic) Net income c (1.14) d (.46) Shr earns (diluted) Net income c (1.14) d (.46) Figures in parentheses are losses. c. Includes a charge of $14.8 million for in-process research in the first quarter and $19.6 million on a restructuring item. Also includes an asset gain of $1.6 million. d. Includes a $2 million restructuring item. Latest year results aren't comparable with results from 1998, because the first 11 weeks of 1999 and all of 1998 reflect the operations of Lumonics only. Lumonics merged with General Scanning in March to form the current company. GSI Lumonics said it reports in this fashion to conform with generally accepted accounting principals and to reflect the purchase accounting method used in the merger transaction. -Leah McGrath; Dow Jones Newswires