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Technology Stocks : Vari-L (VARL) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (2563)	11/30/2000 8:43:42 AM
From: Francois Lavoie	Read Replies (2) \| Respond to of 2702

Sounds good, but contradicts KPMG statements :( How can equipment installed in 1998 be worthless on the balance sheet ? How could KPMG decide that this NEW equipment value is about 0 ? Vari-L Company Announces Increase in Manufacturing Capacity Company Expects to Complete 38% Capacity Increase by February 2001; New Modular Equipment Positions Vari-L to Meet Increasing Customer Demand for Wireless Communications Components DENVER, Nov 27, 2000 /PRNewswire via COMTEX/ -- Vari-L Company, Inc. (OTC: VARLE chart, msgs), a leading provider of advanced components for the wireless telecommunications industry, today announced that a $1.6 million capacity expansion program begun in mid-August is expected to be completed by February 2001 and result in a 38% increase in overall manufacturing capacity. Pete Pappas, CEO, said the expansion plans reflect growing customer demand and underscore Vari-L's commitment to meet that demand with the most modern and efficient manufacturing equipment and processes available. "Our customer base is comprised of world leaders in the emerging wireless communications industry who are increasingly seeking smaller, more efficient and more cost competitive components for their infrastructure and subscriber devices," Pappas said. "In order to satisfy anticipated demand for our leading-edge technology, we are updating and enhancing our manufacturing operations with modular equipment that can periodically be reconfigured to meet the changing requirements of our customers." Pappas said the new equipment purchased since August includes one new pick and place machine, two automated optical inspection systems, one spectrum analyzer, one laser trimming system, one laser marking system, and a number of quality control devices and upgrades. He noted that the majority of the new equipment is being incorporated into the Company's existing high-volume production line that was installed in 1998. As a result, the line will be faster, more efficient, and more suitable for quick modifications to keep pace with evolving customer needs. "When the current process is completed in February, our automated high-volume line will be capable of producing a wider variety of products in a highly efficient and cost-effective manner," Pappas said. "In the meantime, we will continue to look for other ways to enhance and expand our manufacturing operations as necessary in order to meet and exceed our customers' expectations for high quality wireless components."