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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (2851)	9/4/2002 8:21:41 AM
From: Proud_Infidel	Respond to of 25522

LSI Logic Stands by 3rd-Quarter Forecast Wednesday September 4, 6:15 am ET NEW YORK (Reuters) - Custom chipmaker LSI Logic Corp. (NYSE:LSI - News) on Wednesday stood pat on its earlier guidance that third-quarter revenue will rise about 10 percent from the $438 million it had in the second quarter. "Our semiconductor components businesses -- consumer, storage components and communications -- are driving the company's 10 percent, third-quarter growth projection," Wilfred Corrigan, chairman and chief executive, said in a statement. The Milpitas, California-based company also said it expects to report a third-quarter loss before acquisition-related amortization and other special items of 2 cents a share and gross margin of about 39 percent. On that basis, analysts expected LSI Logic to post a loss of 2 cents a share, within a range of a loss of 1 cent to 2 cents a share, on revenue of $479 million, in line with LSI's updated guidance, according to Thomson Financial. LSI's reaffirmation runs counter to an expected tide of downward revisions by other chipmakers in their financial outlooks. It released the statement ahead of a meeting with Wall Street analysts set for later on Wednesday at the New York Stock Exchange.