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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (25664)	2/6/2002 1:26:48 PM
From: Robert Douglas	Respond to of 25960

Here are the highlights from the Merrill Lynch report. They have a $45 price target. Bear Stearns had a report this morning and still has a Buy and a $40 target - which we are presently above! Highlights: Cymer reported fourth quarter operating results of ($0.06) versus ($0.09) last quarter and $0.68 a year ago. This was better than our and consensus estimates of ($0.09) due to a upside in both revenues and gross margins. Booking rose nearly 40% sequentially to an estimated $57 million. $14 million of new orders were placed for the recently released ELS 7000, 4kHz KrF tool. We estimate the order level will be down in Q1 to $43 million. Cymer continues to dominate the Deep-UV laser market for advanced semiconductor lithography. The company slightly improved its share to 81% for installed systems in 2001, up from 79% at the start of the year. Cymer is enjoying strong price increases due to new products and improving mix. The mix of lasers shipped during the quarter continued to shift towards the advanced 4.0 kHz ArF lasers for advanced process development. Maintaining 2002 estimates at $0.05 and initiating a new 2003 estimate of $1.00. We are raising our intermediate term rating from Neutral to Buy (2) and maintaining our long term Strong Buy (1) rating.