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

To: Ram Seetharaman who wrote (274)	8/2/2000 5:06:10 PM
From: Ram Seetharaman	Read Replies (1) \| Respond to of 328

Earnings look good! But is it good enough? Street and whisper number were 13 cents. They beat that - but the item below calls for 15c! Wednesday August 2, 4:36 pm Eastern Time GSI Lumonics sales surge in second quarter (UPDATE: In U.S. dollars unless noted) KANATA, Ont. Aug 2 (Reuters) - GSI Lumonics Inc. (Toronto:LSI.TO - news) (NasdaqNM:GSLI - news), one the world's largest laser-system manufacturers, said on Wednesday its second-quarter sales rose 34 percent as product demand accelerated in its key semiconductor, electronics and auto markets. GSI Lumonics, the result of a March 1999 merger between Lumonics Inc. and General Scanning Inc., reported earnings of $5.8 million, or 14 cents a share, on revenues of $92.8 million. Earnings include a one-time gain of $700,000 from the sale of non-core assets. In the year-earlier period, the company lost $3.7 million, or 11 cents a share, on revenues of $69.2 million. The average estimate from three analysts polled by First Call/Thomson Financial was a profit of 15 cents per share for the three months ended June 30. The average revenue expectation from two analysts contacted by Reuters was $88 million. Shares in GSI Lumonics have slumped in recent sessions as the euphoria for fiber-optic firms subsided. Stock in the company, which has an emerging optical components business, closed at 42-8/16 on July 20 on Nasdaq and C$63.00 on the Toronto Stock Exchange. On Wednesday, shares in GSI lost C$4.05 to end at C$35.45 on Toronto, and shed 2-5/8 to close at 24 on Nasdaq. The company said its second-quarter gross profit was $37.0 million, a 39.9 percent gross margin, versus $23.4 million, a 33.8 percent margin, last year. Order backlog at the quarter's close was $103 million, up 18 percent from $87 million at the end of the first quarter. ($1 equals $1.48 Canadian)