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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4821)	7/25/2002 2:19:43 PM
From: Kirk ©	Read Replies (3) \| Respond to of 5867

OK.. Shot my wad here at $12.15 Yes, I was a buyer. Feels good to not be a capitulator. Lets hope I am right. My target was $13 and am amazed that we hit that. My take: 7/23/02 Lam announced earnings. Lam did slightly better than analysts predicted but the expectation for the future was not good for the short term. Highlights: Q4 Net loss of $31M or $0.24/share. That includes a nontaxable loss of $26M on equity derivative contracts in Lam stock and a restructuring reserve recovery of $4.1M. Last quarter, excluding a one-time gain, Lam lost $0.12/share. Excluding the special charges, June's net loss was 6¢ per share, slightly better than consensus estimates for a loss of 7¢. Revenue came in at $180 million, slightly above expectations for $174 million. Sales were up 10% from the previous quarter, but remain 51% below last year's levels For next quarter, president Steve Newberry projected revenue will be $190 million to $200 million, with earnings per share between 1 cent and 3 cents. That compares with current analyst projections of $215 million and 2 cents, according to First Call/Thomson Financial Net loss of employees in Q4 of 200 to a net head count of 2,500. In 2001, they had a staff of 3,150. So, Lam expects revenue growth to continue, but the total revenue will be about 12% less than expected. Stock sells off as if the fall from $30 didn't already factor this in. Hopefully, this is the piano player being taken out in a final capitulation. Of course, the bears say we will never use a semiconductor again. Kirk out