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

To: rairden who wrote (22516)	7/27/2000 4:28:55 PM
From: Maverick	Read Replies (3) \| Respond to of 25814

LSI Logic explains quarterly results By Janet Haney, CBS.MarketWatch.com Last Update: 3:04 PM ET Jul 27, 2000 NewsWatch Latest headlines SAN FRANCISCO (CBS.MW) -- LSI Logic had a lot to answer to when it gave its presentation during the Robby Stephens Semiconductor conference Thursday in San Francisco. The company's stock has dropped considerably from its level just 10 days ago, losing most of its weight during trading July 26. Executive vice president of LSI's communications product group, John Daane, provided some insight into the company's recently released second-quarter results as well as its future. Daane said execution errors in the second quarter left $20 million on LSI's (LSI: news, msgs) table. Today on CBS MarketWatch Nasdaq sinks 110 points; Dow extends gains Napster switched off by judge June durable goods orders take flight Net stocks pressured StockWatch: Multex CEO in the connection business More top stories... CBS MarketWatch Columns Updated: 7/27/2000 1:35:58 PM ET A product associated with the company's systems division was not delivered in the quarter as previously expected. That situation, coupled with $10 million worth of products that were incorrectly coded and consequently not delivered in the period, caused investors pause. Daane assured conference attendees that the problem has been corrected and is "behind us." Daane added that sales from LSI's communications group are expected to reach 50 percent of revenue in the third quarter. Communications, he pointed out, are expected to grow by 65 percent in 2000. LSI anticipates 10 to 12 percent sequential revenue growth in the third and fourth quarters. cbs.marketwatch.com