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To: Paul Kern who wrote (8338)	4/12/2001 4:14:53 PM
From: Paul Kern	Respond to of 19633

ELNT also ============================================ Elantec Semiconductor Announces Second Quarter 2001 Financial Results MILPITAS, Calif.--(BUSINESS WIRE)--April 12, 2001--Elantec Semiconductor, Inc. (NASDAQ: ELNT - news) today reported financial results for the second quarter ended March 31, 2001. Net revenues for the second fiscal quarter were $30.6 million representing an increase of 53% from the $20.0 million reported for the second fiscal quarter of 2000 and a 25% decrease from the $40.7 million reported in the first fiscal quarter of 2001. Net revenues for the six months ended March 31, 2001 were $71.3 million representing an increase of 99% from the $35.7 million reported in the same period of fiscal 2000. Net income for the second fiscal quarter of 2001 was $5.0 million, or $0.20 per diluted share. This compares to net income of $3.4 million, or $0.14 per diluted share reported for the second fiscal quarter of 2000 and net income of $9.7 million or $0.37 per diluted share for the first fiscal quarter of 2001. Net income was $14.7 million or $0.57 per diluted share for the six months ended March 31, 2001, compared to a net income of $6.1 million or $0.27 per diluted share reported in the same period of fiscal 2000. ``The slowing demand in several of Elantec's end markets, as well as industry-wide inventory issues, had a significant impact on our business in our second quarter,'' said Rich Beyer, President and Chief Executive Officer. ``The drop in sales and income relative to our December quarter was in line with the industry downturn. We believe we are continuing to execute on the critical activities to enable the Company to regain its sales and profit growth when economic conditions improve and our target markets resume growth.'' In looking to Elantec's third quarter, Mr. Beyer commented, ``We expect the negative impacts from lower demand and from inventory build-ups to continue to affect us in our third quarter. As a result, we expect revenues to decline sequentially approximately 20% from second quarter levels. We are continuing to take comprehensive cost reduction actions and anticipate further reductions in operating expenses from second quarter levels. Consequently, we expect net income per diluted share to be in the $0.10 to $0.12 range.'' ``While visibility beyond the June quarter is very poor, we do expect a return to sequential revenue and profit growth in the September quarter. And the number of new product introductions and new design wins experienced in our second quarter give us confidence that Elantec remains well positioned for fiscal year 2002 and beyond.'' Web Broadcast and Instant Replay Elantec will broadcast its second quarter earnings conference call today at 1:30 p.m. PST. This event is available through the Company's website located at elantec.com. For those unable to attend the live broadcast, a 5-day broadcast replay will be available shortly after the event. Elantec is also making available a 5-day telephone replay of the conference call which can be accessed by dialing 1-800-405-2236 and entering pass code number 316901. Safe Harbor Statement Certain matters discussed in this press release, such as revenue and earnings expectations, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the timing of or delays in new product and process technology introductions by the Company or its competitors, competitive pricing pressures, fluctuations in manufacturing yield, changes in the mix or markets in which products are sold, availability and cost of raw materials, business and economic conditions in various geographic regions, change in customer order patterns, litigation involving intellectual property and other issues, and other risk factors discussed from time to time in the Company's reports filed with the Securities and Exchange Commission, including but not limited to the Company's most recent Forms 10-Q and 10-K. The Company's actual future results could differ materially from those discussed here. About Elantec Semiconductor Elantec designs, manufactures and markets high performance analog integrated circuits primarily for the video, optical storage, communication, and power management markets. The Company targets high growth commercial markets in which advances in digital integrated circuit technology are driving increasing demand for high speed, high performance and low power consumption analog circuits.

To: Paul Kern who wrote (8338)	4/12/2001 5:43:07 PM
From: Tom Hua	Read Replies (2) \| Respond to of 19633

Paul, I think shorts will have a ball next week. Watch for MSFT to miss by a couple of pennies. IBM will make the numbers but guidance will be much worse than current consensus not only because of the North American slow down by negative impact from Europe will be felt in Q2. CSCO warning is inevitable, it may come out next week too. The spotlight may be on the semi sector again next week with focus on the impact of rapid deterioration in flash memory pricing, and price slash in Intel's Pentium IV microprocessor. Just a reminder, starting Monday I'd ask that we move our activity to the Yahoo club for a few days for beta testing. Regards, Tom