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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: RR who wrote (37893)	6/14/2001 5:15:47 PM
From: Sully-	Respond to of 65232

RR, It's more like I'm finally learning from you. And that's a good thing :-) Ö¿Ö

To: RR who wrote (37893)	6/14/2001 5:17:09 PM
From: Sully-	Respond to of 65232

International Rectifier Revises June Quarter Financial Outlook EL SEGUNDO, Calif.--(BUSINESS WIRE)--June 14, 2001--International Rectifier Corp. (NYSE:IRF - news) today announced that revenues for its fiscal 2001 fourth quarter ending June are expected to be $179-193 million, down 30-35 percent from record revenues of $276 million in the March quarter. Previously, IR had estimated revenues of $237-257 million for the June quarter. Gross margins are expected to decline 2-3 percentage points in the June quarter from the prior quarter's 41.6 percent record level, but to remain above the 38.5 percent gross margin attained in the June quarter a year ago. International Rectifier CEO Alex Lidow said: ``We expected the datacom and telecom segment of our business to be down about 50 percent from the March quarter, but business conditions in these markets have deteriorated even further during the quarter. We now expect our revenues from this segment to be down about 70 percent. At the same time, weaker than expected demand from other information technology markets has delayed the volume ramp of our high-performance products with industry leaders. IR's turns business remains well below plan at about 10 percent of expected revenues, versus our previous estimate of about 30 percent. ``Looking ahead, we expect revenues for the September quarter to be flat with the June quarter,'' said Dr. Lidow. ``We believe business conditions will improve later in the year, consistent with the recent forecast of the Semiconductor Industry Association. We expect to grow revenues for the 2002 fiscal year 5-15 percent, down from the previous estimate of 20-25 percent growth. Currently, we believe the low point for gross margins will be around 37 percent in the September quarter and will expand with the rising revenues anticipated through the balance of the fiscal year. Our cash position of over $800 million provides IR with enormous flexibility to strengthen our position as the leader in power management during this global market slowdown.'' Conference Call A conference call for analysts and investors will begin today at 5:15 p.m. Eastern time (2:15 p.m. Pacific time). Participants may join the call by dialing 212/346-7446 at least 15 minutes ahead of the start time. The reservation number is 19162154. A replay of the conference call will be available until June 19 at 5:15 p.m. Eastern time (2:15 p.m. Pacific time). To listen to the replay, call 800/633-8284 (for international callers, 858/587-5842) and use the same reservation number, 19162154. About International Rectifier IR is a world leader in power management technology. IR's power systems, analog power integrated circuits (ICs), advanced-circuit devices, and components are improving the fuel efficiency in automotive vehicles, and cutting energy consumption in applications for industrial motors, heating and air conditioning systems, home appliances, and lighting. IR's products enable information technology devices to perform at greater speed and reliability, and allow portable electronics to run longer off a single charge. IR pioneered the technology and is the market leader in the $4 billion power MOSFET segment of the power management industry, and nine of the industry's top 10 power MOSFET suppliers are currently licensed under its patents. Almost two-thirds of IR's revenue comes from outside the United States. The foregoing material includes some forward-looking statements made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company cautions that such statements are subject to a number of uncertainties, and actual results may differ materially. Factors that could affect the company's actual results include the failure of market demand to materialize as anticipated; greater than expected weakness in the information technology segments of its business; the effectiveness of cost controls and cost reductions and the integration of acquisitions into its operations; the ability or the timing of the company to achieve strategic acquisitions and the effect of associated costs; the accuracy of customers' forecasts; push-out of delivery dates; product returns; market and sector conditions that affect its customers, licensees, and suppliers; introduction, acceptance, availability, and continued demand and growth of new and high-performance products; delays in transferring and ramping production lines or completing customer qualifications; company and market impact due to the cancellation of customer and/or industry programs; the company's mix of product shipments; availability of adequate capacity and unanticipated costs of refurbishment or replacement of equipment; pricing pressures; failure of suppliers and subcontractors to meet their delivery commitments; unfavorable changes in industry and competitive conditions; impact of any disruption in, or increased cost of, electricity and/or other critical supplies; economic conditions in the company's markets around the world and the timing of changes in market conditions; changes in interest and investment rates; impacts on the company's business or financial condition due to changes in currency valuation or to the euro conversion; impact of changes in accounting methods; the impact of changes in laws and regulations, including tax, trade, and export regulations and policies; the actual results of any outstanding litigation; and other uncertainties disclosed in the company's S-3 filing with the Securities and Exchange Commission (``SEC'') on Oct. 16, 2000, and the company's reports filed with the SEC, including its most recent reports on forms 10-K and 10-Q. -------------------------------------------------------------------------------- Contact: International Rectifier Corp. Steve Harrison, 310/252-7731 irf.com biz.yahoo.com Ö¿Ö