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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63186)	4/25/2002 2:14:25 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

LSI Logic Posts Sequential Uptick for Q1 Online staff -- Electronic News, 4/24/2002 e-insite.net LSI Logic Corp. today posted an improved net loss of $171.8 million, or 47 cents per share, for the first quarter of 2001. This compares with a net loss of $250 million, or 68 cents per share, in the previous quarter and a year-ago quarterly net loss of $31.2 million, or 10 cents per share. The company posted net revenue of $413 million, a 1.6 percent increase from the fourth quarter’s $406 million, but a 20 percent decline from $517 million in the first quarter of 2001. LSI Logic also saw a 15 percent increase in its bookings during the first quarter. The company said its results place it on track for profitability in the second half of the year. LSI Logic said it expects its sequential revenue growth to continue, with about 3 percent to 6 percent growth in the second quarter. The company expects pro forma losses to improve in the second quarter, to about 9 cents per diluted share. Capital spending is expected to be less than $30 million in the second quarter and under $200 million for 2002. "LSI Logic revenues grew in the first quarter and exceeded bottom line expectations, despite normal seasonality in the consumer electronics sector," said Wilfred J. Corrigan, LSI Logic chairman and CEO, in a statement. "Our communications, storage and storage systems businesses gathered momentum in the first quarter as the high-technology sector underwent the first stages of recovery."