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Strategies & Market Trends : Guidance II -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (190)	2/28/2002 10:18:10 PM
From: JeanD	Respond to of 2077

ESS Tech raises forecasts on strong DVD market FREMONT, Calif., Feb 28 (Reuters) - DVD chipmaker ESS Technology Inc.(NasdaqNM:ESST - news) raised its forecasts for the first and second quarters on Thursday, saying sales of DVD players were stronger than expected and ESS was gaining market share. ESS raised its first-quarter earnings estimate to 22 cents to 25 cents per diluted share from a previous estimate of 11 to 14 cents and Wall Street's consensus estimate of a 13-cent profit, as reported by Thomson Financial/First Call. Revenue would be $68 million to $70 million, up from an estimate of $57 million to $60 million, ESS said. It also raised its second-quarter EPS target to 18 to 22 cents from 14 to 17 cents and revenue to $66 million to $70 million, up from a forecast of $62 million to $66 million. ESS said the first quarter was unseasonably strong after an exceptionally strong holiday season. Shares of ESS were up 14 percent in midday trading on the Nasdaq, at $21.90.