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

To: Sully- who wrote (43350)	10/18/2001 6:56:18 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

A firm worth considering... ____________________________________________ Press Release SOURCE: Genesis Microchip Inc. Genesis Microchip Reports Second Quarter Results Revenues Of $36.1 Million Up 140 Percent Over Previous Year SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 18, 2001--Genesis Microchip Inc. (Nasdaq:GNSS - news) today announced revenues of $36.1 million, net income of $6.6 million and earnings of 29 cents per diluted share in the second quarter of its 2002 fiscal year. The second quarter ended on September 30, 2001. The revenues for the quarter represent an increase of 140 percent over the year-ago quarter and 70 percent over the June 2001 quarter. Net income grew 238 percent over the year-ago quarter and 315 percent over the June 2001 quarter. Revenues and earnings for the second quarter exceeded previously stated targets. In July, the company targeted revenues of $25 million for the quarter, and on September 18 increased that target to $30 million. ``Genesis Microchip's strong performance for the second quarter is attributable to the design wins we achieved in previous quarters, which in turn positively reflects the combined strength of our technology, our team and customer-service-driven focus,'' said Genesis Microchip President and Chief Executive Officer Amnon Fisher. The company announced at the end of the second quarter that it had reached a definitive agreement to acquire Sage, Inc. (Nasdaq:SAGI - news) subject to the satisfaction of certain closing conditions. According to Fisher, the combination ``will make Genesis a technology leader with a strong history of innovation and a broad portfolio of products serving the fast-growing display semiconductor industry.'' Business Outlook The company continues to expect that revenues in the 2002 fiscal year will be dominated by shipments of its products into flat-panel monitor applications. The timing of the closing of the announced Sage acquisition will impact the company's results. The results of Sage will be combined with those of Genesis prospectively, commencing on the date of closing of the transaction. The company expects to close the acquisition during the March 2002 quarter. The company is significantly raising its revenue target for the December quarter from $25 million to over $36 million. The company continues to take a conservative approach in targeting its revenues because of potential seasonal factors and unsettled economic conditions. Because the company will record revenues from Sage, Inc. after the closing of the acquisition, the inability to accurately predict the timing of the closing within the March quarter makes it difficult to target the amount of revenues for that quarter. The company expects that gross margins in the December quarter will be approximately 45 percent, reflecting volume discounts associated with much higher than expected unit shipments. The company anticipates gross margins will remain in this approximate range for the balance of the fiscal year. The timing of the Sage acquisition may also impact overall gross margins in the March 2002 quarter. With revenue growth significantly stronger than previously targeted, the company now expects that its operating expenses will average between $9.5 and $10.5 million per quarter for the balance of the fiscal year, excluding patent defense costs or any costs associated with the Sage transaction. Following the distribution of this news release, the company will be hosting a conference call open to all interested investors. The conference will begin at 6 p.m. EST on Oct. 18, 2001 and can be accessed by calling (212) 231-6026, reservation no. 19838934. A replay of the conference will be available until Oct. 26, 2001 by calling (800) 633-8284, reservation no. 19838934. A live audio Web broadcast will be also be available by visiting: ir.genesis-microchip.com. About Genesis Microchip Genesis Microchip is a leading supplier of cost-effective integrated circuits and software solutions, enabling the convergence of Internet information and video. Flat-panel displays, digital televisions, digital CRTs and consumer video products all benefit from Genesis technology, which connects and formats any kind of source content to be displayed with the highest image quality on any type of screen. All leading brand-name monitor vendors use ``Genesis Display Perfection'' components. Founded in 1987, Genesis has offices in Silicon Valley, California; Taipei, Taiwan and Toronto, Canada. Further information is available at www.genesis-microchip.com. ______________________________ Tim: Great to hear from you....thanks for posting Zeev's post on the Israeli Conflict -- we need MORE FACTS to be circulated. Regards, Scott

To: Sully- who wrote (43350)	10/18/2001 8:13:21 PM
From: RR	Respond to of 65232

Hi Tim: What a week. Market doing it's own thing. Gurus scratched their heads even more again today. Ought to be interesting Friday. Anxious to see how it acts on the MSFT news. Also, ought to be interesting to see the effect of options expiration. Still a lot of techs over max pain. Watch the last 30 mins or so tomorrow as the positions unwind. I'll have my finger on the button. Been trading calls on the big caps lately. Slow movers but profitable. Only tech I've been playing with is ORCL close-in calls. That's it here. Weather great but the chill is here. Frost on the pumpkin patch when I left out this morn. RR