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To: Dealer who wrote (3997)9/27/2000 2:08:31 PM
From: Dealer  Read Replies (1) | Respond to of 65232
 
SSTI--Silicon Storage shares rise on earnings optimism
By Bloomberg News
September 27, 2000, 10:00 a.m. PT

Shares of semiconductor maker Silicon Storage Technology rose as much as 15 percent after the company said third-quarter profit will be higher than analysts expected amid strong demand for its chips.

Shares were up $2.34, or 9 percent, to $28.38 in midday trading, after reaching as high $29.88. They had risen 89 percent this year through yesterday.

The Sunnyvale, Calif.-based company said in a statement that it expects earnings of 35 cents a share in the third quarter, beating the 28 cent average estimate of seven analysts surveyed by First Call/Thomson Financial.

Silicon Storage designs flash-memory chips, which store small amounts of information in devices such as personal computers, cellular telephones and digital cameras. It can't produce enough of its products to meet the demand, the company said, and plans to keep expanding capacity.