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To: The Ox who wrote (6887)	11/14/2002 8:52:32 AM
From: The Ox	Read Replies (2) \| Respond to of 95632

LTX Announces First Quarter Results Thursday November 14, 7:05 am ET WESTWOOD, Mass.--(BUSINESS WIRE)--Nov. 14, 2002--LTX Corporation (Nasdaq: LTXX - News), a leading provider of semiconductor test solutions, today announced financial results for its fiscal quarter ended October 31, 2002. The operating results for the quarter were in line with Company guidance. Sales were $30,007,000, down from $32,630,000 in the fourth quarter. Net loss was $(22,684,000), or $(0.46) per share, including a restructuring charge of $1,990,000 for a workforce reduction of 94 employees on August 22, 2002. Applying the statutory tax rate of 40% and excluding the restructuring charge, net loss for the first fiscal quarter of this year would have been $(12,416,000) or $(0.25) per share. In the first quarter of last fiscal year, sales were $33,003,000 and net loss, after applying the then-effective tax rate of 30%, was $(9,397,000), or $(0.19) per share. In order to better align LTX's expense structure with current industry conditions, the Company further reduced its workforce on November 12, 2002. The action affected 195 people worldwide, at all levels and disciplines, and represents approximately 27% of the employee base. The Company expects this reduction to result in annualized savings of approximately $16 million. Roger W. Blethen, Chairman and Chief Executive Officer, commented, "Although we met our financial guidance for the quarter, industry conditions continue to be challenging. Net orders were $20 million, up 30% year over year, resulting in a book to bill of 0.7 to 1, and were down sequentially from our fourth quarter." Mr. Blethen continued, "Orders in the current business environment are being driven mainly by technology purchases for wireless ICs, including Bluetooth and 802.11 wireless local area network (WLAN) and for digital signal processing (DSP) chips. Wireless and DSP are the two technologies we see as the early drivers of the next cycle and represent the areas where we are focusing our development efforts for Fusion. Earlier in the quarter, we announced Synad as a new customer. Synad is a European-based fabless company that has developed an 802.11A/B multi-standard solution enabling mobility and interoperability across the various WLAN standards." Mr. Blethen continued, "As we move forward in the second quarter, I am confident our decisions and activities position the Company to be a leader in the next growth cycle. We will continue to focus on bringing innovative new capabilities for Fusion to market, targeting and winning new customers and tightly managing our expenses. "

To: The Ox who wrote (6887)	11/14/2002 8:53:41 AM
From: robert b furman	Read Replies (1) \| Respond to of 95632

HI Mike, great news The cycle lives again - even if we get a slump like in early 99. Markets looks string Amat up on bad vision - no time to be short. Bob

To: The Ox who wrote (6887)	11/14/2002 8:59:48 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95632

From Briefing.com: S&P futures vs fair value: +13.3. Nasdaq futures vs fair value: +18.0. Bullish bias in pre-market action with the better than expected economic data acting as the key catalyst... Recent announcement from Intel (INTC) that its board has authorized the purchase of an additional 480 mln shares under its repurchase program, along with decent earnings news out of the retail sector and IBM reiterating its FY03 outlook, are lending further support INTC Intel adds 480 mln shares to buyback program (18.12) Co's board has authorized the purchase of an additional 480 mln shares as part of the co's existing stock repurchase program. From the beginning of the program in 1990 through Q3 of 2002, Intel has repurchased approx 1.7 billion shares at a cost of about $29 bln. During Q3, Intel repurchased approx 57 mln shares at a cost of roughly $1 bln. 7:30AM Taiwan DRAM makers to ramp up DDR ratios to 90% by January - Digitimes : Digitimes reports that "the much-acclaimed" DDR DRAM shortage of recent months may be fading out, as Taiwan DRAM makers gear up to pump DDR ratios to 90% by Jan. (In Sept, Taiwanese DRAM makers were expected to reach an avg DDR output ratio of 70% by year-end; meanwhile, DDR prices have soared on the shortage of the past few months, but spot prices have recently showed signs of dipping down from the high.) S&P futures vs fair value: +8.7. Nasdaq futures vs fair value: +8.5. Good news in the economic data as the initial claims and retail sales reports were both better than expected... The inferences drawn from the data are that the job market is getting better and that the consumer remains alive and well... Futures market has caught a bid on the data, and now, the cash market is poised to make a decent push to the upside when trading begins MU Micron downgraded at Prudential; target $11 (13.07) Prudential downgrades to Hold from Buy based on the belief that DRAM prices will come under pressure at a faster pace than the mkt anticipates, and that the opportunity to buy Hynix's DRAM assets has been missed; cuts price target to $11 from $21. Retail Sales better than expected; Jobless Claims lower Two good reports for the economy - a strong 0.7% ex-auto retail sales increase managed to overcome already reported weakness in auto sales to keep total sales unchanged on the month. We already knew about the post-incentive weakness in auto sales, so the continued strength in ex-auto sales is good news that indicates consumers are still spending at a healthy clip. Jobless Claims fell to 388K, getting a bit further below the 400K level that has been an anchor in recent months. It's too early to call this a trend, but it is an encouraging number nevertheless. RFMD RF Micro Device CEO to resign (7.88) Co announces that Bob Bruggeworth will succeed David Norbury as CEO in January. Mr. Norbury, who is retiring, plans to continue as a member of co's board of directors. finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+INTC+KLAC+LLTC+LSCC+LSI+MOT+MU+MXIM+NSM+NVLS+RFMD+TER+TXN+XLNX+^VIX+^IXIC+^SPX+SMH&d=t RtS