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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (24942)	11/28/2001 8:57:11 AM
From: Stephen	Read Replies (1) \| Respond to of 52237

A reality check from Solectron ... SINGAPORE, Nov 28, 2001 (AP WorldStream via COMTEX) -- Microchip maker Solectron Corp. said Wednesday that its sales would be less than dlrs 16 billion for the year ending Aug. 31 and that the electronics industry's slowdown could last for another year or two. Sales at the Milpitas, California-based company were dlrs 18.7 billion last fiscal year. Solectron's chairman, president and chief executive, Koichi Nishimura, said the outlook remains cloudy in the face of the global economic slowdown, and the U.S. recession. "The market contracted, so we did tell Wall Street that based on this quarterly run-rate, we'd be below the bottom of the (full-year) guidance, which was made when the market was still booming," Nishimura said. In August, Solectron said it expected sales of dlrs 16 billion to dlrs 18.5 billion for fiscal 2002. Nishimura said the slowdown could last longer than two years for sectors such as telecommunications, which are struggling to deal with an overabundance of factories and other facilities and workers. Consumer electronics, however, could pick up in a year or less, depending on whether retail sales pick up in the face of the slowdown, he said. Nishimura said forecasts for the quarter ending Nov. 30 was unchanged from earlier projections, of dlrs 2.8 billion to dlrs 3.2 billion. The company counts leading electronics original equipment manufacturers as its customers, such as Nokia Corp., serving segments such as mobile phones, personal computers and fax machines. Regards Stephen