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Technology Stocks : Earnings: Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (28)	7/27/2001 11:30:19 PM
From: 2MAR$	Read Replies (1) \| Respond to of 266

LSI ($19 -21) P/E 52 Sees Revenue Growth In Fourth Quarter; Shares Rise A Wall Street Journal Online News Roundup NEW YORK -- LSI Logic Corp. saw its shares climb Friday after the communications-chip maker said it expects business to bottom out in the current quarter and revenue to grow in the fourth quarter. In 4 p.m. trading, LSI shares were up $1.70, or 8.9%, to $20.85 on the New York Stock Exchange. Bear Stearns & Co. analyst Charles Boucher upgraded his rating on LSI's stock to "buy" from "attractive" on the company's optimistic outlook. Mr. Boucher said he believes LSI's customers have been working off their inventories of chips and are using them faster than they have been ordering them. The analyst noted in a research note that LSI's exposure to consumer, enterprise, server and storage sectors is a positive because those markets are likely to recover sooner than the networking and telecommunications segments, in which LSI also is a player. The analyst added that LSI, of Milpitas, Calif., should be "well-positioned" to benefit from the upcoming semiconductor upturn. Late Thursday LSI posted a second-quarter net loss of $312.5 million, or 91 cents a share, compared with year-earlier net income of $70.6 million, or 21 cents a diluted share. Excluding charges, LSI lost $20.9 million or six cents a share, one cent better than Wall Street's expectations. Revenue fell 28% to $465.2 million. The semiconductor maker also warned that third-quarter revenue would fall 10% to 15% from the second quarter, representing a loss of about 31 cents a share, and that gross margin would be in the 30% to 32% range, down from the second quarter's 38.8%. While many industry watchers agreed that LSI's revenue outlook for the third quarter is steeper than expected, the fact that the company is optimistic for a third-quarter bottom in all its segments except for networking was something to cheer about. Tim Mahon, an analyst at Credit Suisse First Boston, said the company is ready "for the inevitable upturn, with a much stronger balance sheet than in previous downturns." The analyst noted, however, that the stock is a "bit rich" at current levels. He said he would advise investors to stay on the sideline with an "eye towards lower entry points." LSI supplies chips for broadband, data networking, communications, wireless and set-top boxes. The company also provides chips and boards for network computing and supplies storage networks for enterprises. When it reported first-quarter results in April, LSI said that there were indications that revenue growth would resume in the second half of the year

To: 2MAR$ who wrote (28)	7/29/2001 11:32:24 PM
From: 2MAR$	Respond to of 266

SNDK ( $25-$22-$23) Q2 loss exceeds forecast, sees Q3 loss of 15 cts SUNNYVALE, Calif, July 18 (Reuters) - Flash memory chip maker, Sandisk Corp. (NasdaqNM:SNDK - news) on Wednesday posted a larger-than-expected second-quarter loss and said its third-quarter loss would also be steeper than expected. Sandisk said total second-quarter revenues fell 26 percent, to $107.1 million from $143.9 million in the second quarter of 2000. Product revenues declined 28 percent, from $122.6 million, in the same period of the prior year due to a 44 percent decline in average unit selling prices, partially offset by an increase in unit sales of 16 percent. Net loss in the second quarter of 2001 was $10.0 million, or 15 cents per share, including inventory write-down and equipment write-off charges of $30.7 million. The second quarter 2001 net loss compares to earnings of $24.3 million, or 33 cents a share in the year-ago quarter. The company said net losses from operations for the third quarter is currently estimated to be between 10 and 15 cents a share. Analysts polled by Thomson Financial/First Call had projected the company to post a loss of six cents in the second quarter and three cents in the third quarter. Email this story