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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (44932)	4/2/2001 9:13:54 PM
From: Proud_Infidel	Respond to of 70976

Electroglas Announces Decrease in First Quarter 2001 Revenue Expectations SAN JOSE, Calif.--(BUSINESS WIRE)--April 2, 2001--Electroglas, Inc. (Nasdaq:EGLS - news) announced today that it expects its financial results for the first quarter ended March 31, 2001 to be below the expectations provided in its earnings conference call on January 25, 2001. Electroglas is scheduled to release its first quarter results prior to the market open on Thursday, April 19, 2001. ``Business conditions for the semiconductor and semiconductor equipment industry continued to decline rapidly during the first quarter,'' stated Curt Wozniak, CEO of Electroglas. ``The slowdown in the U.S. and global economy has led to falling capacity utilization rates of our semiconductor customers. Customers have realigned their capacity expansion plans, have cancelled or asked for slower deliveries on existing orders, and have delayed additional orders until demand and capacity utilization increase. As a result, first quarter revenue will be below the guidance we provided in our fourth quarter earnings conference call.'' Revenue for the quarter ended March 31, 2001 is expected to be 10-12% below the $42-44 million guidance provided in the fourth quarter earnings conference call on January 25, 2001. Wozniak continued, ``While we don't know the duration of the downturn in the semiconductor industry, we do know we remain a cyclical industry. During this cycle, we will continue to invest in our new product development programs to be prepared for the eventual turn in capacity expansion and technology requirements of our customers. However, we will take steps to reduce other expenses in line with our lower revenue expectations and production requirements.'' Legal Notice Regarding Forward-Looking Statements Certain statements in this press release are forward-looking statements, including statements regarding Electroglas' plan and expectations or intentions regarding the future. Forward-looking statements in this release include statements relating to the quarter ended March 31, 2001 regarding financial results, revenues, as well as statements related to efforts to maintain commitments to research and development, reduce expenses and changes in the general market outlook. Electroglas assumes no obligation to update any forward-looking statement. Electroglas' actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as continued or increased softness in demand for semiconductor equipment, unexpected cancellations or delay in customer orders and the incurrence of unanticipated expenses. Readers should also refer to the risk disclosures outlined in Electroglas' Form 10-Qs filed from time-to-time and the Form 10-K filed for Electroglas' fiscal year ended December 31, 2000. About Electroglas: Electroglas delivers essential tools for process management designed to enhance semiconductor companies' profitability. The Company's wafer probers, inspections systems and software solutions serve as data collection, management and analysis tools that semiconductor manufacturers depend on to improve their productivity and process control by optimizing sort-floor efficiency. Electroglas has been a leading supplier of wafer probers for over 40 years and has an installed base of more than 11,000 systems. The Company's stock trades on the Nasdaq National Market under the symbol ``EGLS''. The Company's World Wide Web site is located at electroglas.com