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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (5006)	9/11/2000 8:30:32 PM
From: zx	Respond to of 30051

PRI Automation dropped in after-hours trading today after the largest maker of automated tools for semiconductor plants warned that its quarterly earnings will miss forecasts by a large margin. Shares of the Billerica, Mass.-based company fell $11.19, or 26 percent, to $31.50 after the close of regular trading. The shares have lost two-thirds of their value since hitting a 52-week high of $94.50 on March 7. PRI Automation said that manufacturing, supply and capacity problems with its new TurboStocker system will cause profit from operations to be "slightly above break even" for its fiscal fourth quarter that ends Sept. 30. The company was expected to earn 52 cents a share, the average estimate of analysts polled by First Call/Thomson Financial. Problems appears to be not enough capacity. more. The Billerica, Mass.-based company, whose hardware and software helps the flow of production at semiconductor factories, forecast about $84 million in revenues for the quarter ending Sept 30, down about six percent from last quarter's $88.9 million. That shortfall would translate into net income ``slightly above break-even,'' excluding special charges, the company said. Analysts surveyed by market research firm First Call/Thomson Financial were expecting PRI Automation to earn 52 cents per share for the period. ``We have identified the areas that need to be fixed and have established the teams to implement the changes and accomplish the turnaround,'' Mitch Tyson, PRI Automation's president and chief executive, said in a statement. PRI Automation blamed manufacturing, capacity and supply chain problems relating to a its TurboStocker product, which was scheduled to move into high volume production during the quarter. Even with the setback, fiscal 2000 revenues should come about 125 percent above fiscal 1999 revenues, the company said. It said fiscal 2001 revenues are expected to grow more than 40 percent over fiscal 2000. Is this good or bad news for their competitiors. Competitors Applied Materials Asyst Technologies Brooks Automation CVC Daw Technologies Entegris Flow International Helix Technology Jenoptik Komatsu Tokyo Electron