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Technology Stocks : Credence (CMOS): Anyone out there -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (475)	3/5/2001 4:19:49 PM
From: smallcapmaven	Respond to of 497

CREDENCE SYSTEMS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) January 31, October 31, 2001 2000 Unaudited ASSETS Current assets: Cash and cash equivalents $118,222 $119,089 Short-term investments 106,831 124,545 Accounts receivable, net 137,543 175,794 Inventories 138,076 102,034 Other current assets 27,175 29,420 Total current assets 527,847 550,882 Long-term investments 128,198 133,804 Property and equipment, net 106,681 94,853 Other assets 102,542 99,698 Total assets $865,268 $879,237 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $38,741 $53,287 Accrued liabilities 61,918 71,202 Income taxes payable 18,707 23,866 Total current liabilities 119,366 148,355 Other Liabilities 9,730 8,332 Minority interest 191 323 Stockholders' equity 735,981 722,227 Total liabilities and stockholders' equity $865,268 $879,237 Next 2 Q's a loss...See STMP for the likelyhood of liqiudation based on asset value...lol!!!

To: BWAC who wrote (475)	3/5/2001 5:42:24 PM
From: smallcapmaven	Read Replies (2) \| Respond to of 497

Do you think that the XLNX warning will affect CMOS... The Valstar series aimed at high-end logic may suffer from this warning...Although the stock did not drop they are considerably cheaper than CMOS...It does not bode too well for the second half of 2001 or early 2002... The shorter lead times from CMOS, A, and KLIC tend to give test equipment vendors less visibility on orders and this can often translate into order surprises...Since the slowdown persists IMO it will get worse...Last Q CMOS had $43 million in order cancellations...95% of those came from Taiwanese customers...In 2000 70% of the revenue came from Asia, but only 28% in the last Q...IMO the slowdown in the USA will only exasperate this situation...I heard that TER has cut prices and pushed out product inorder to take customers... Cash and investment capital is a touch over $4 per share (less than STMP)...As the company loses money the book value will drop as we discussed...IMO the stock is not a value here and rather a strong sell...JMO!!!