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Technology Stocks : Helix Technology, a cold play on semiconductor equipment -- Ignore unavailable to you. Want to Upgrade?

To: mopgcw who wrote (1060)	12/16/2002 8:25:47 PM
From: mopgcw	Read Replies (1) \| Respond to of 1227

Helix Reiterates 4Q Guidance DOW JONES NEWSWIRES MANSFIELD, Mass. -- Helix Technology Corp. (HELX) confirmed its fourth quarter guidance, announced a 14% decline in staffing since the beginning of the quarter and created a new chief operating officer position. In a press release Monday, the cryogenic and vacuum technology maker said it remains comfortable with a current Thomson First Call loss estimate of 15 cents a share before any charges. In the same period last year, the Mansfield, Mass.-based company posted a loss of 16 cents a share. Helix added that order bookings remained relatively flat throughout the current quarter and continued to meet expectations. As expected, holiday plant closings at major original equipment manufacturer accounts will cause revenue to decline by about 15% sequentially. This estimate would put fourth quarter revenue at about $23.3 million, based on third quarter revenue of $27.4 million. In the 2001 fourth quarter, the company reported revenue of $17.3 million. Aside from providing fourth quarter guidance, the company also updated its previously announced restructuring plan, which will reduce worldwide head count, close excess plants, reduce space requirements in other facilities, and decrease non-strategic spending throughout the company. Helix recently cut about 70 positions at its CTI-Cryogenics and Granville-Phillips operations. The company expects to have about 575 employees worldwide at the end of the fourth quarter, 14% below its staff size of 667 people in the beginning of the period. As a result of the company's restructuring plan, break-even revenue level will be reduced by almost $8 million per quarter to about $27 million in the first quarter of 2003. Helix also named James Gentilcore to the newly created position of executive vice president and chief operating officer. Gentilcore most recently was chief operating officer at Advanced Energy Industries Inc. (AEIS), in Fort Collins, Colo. Helix created the new position as part of plans to further develop its management team, Helix's President and Chief Executive Robert Lepofsky told Dow Jones Newswires. The company currently doesn't have any plans to further expand that group, he added. In September, Advanced Energy announced Gentilcore's resignation to pursue other activities. At that time, Chairman, President and Chief Executive Officer Douglas Schatz took the position of chief operating officer on an interim basis. An Advanced Energy spokeswoman said the company still is searching for a permanent replacement. Advanced Energy's stock recently rose 4%, or 54 cents, to $14.18, on Nasdaq volume of 125,119 shares. Average daily volume is 462,029 shares. Helix's stock recently traded at $11.25, up 34 cents, or 3.1%, on Nasdaq volume of 45,496 shares. Average daily volume is 250,810 shares. -Maria P. Vallejo; Dow Jones Newswires; 201-938-5400