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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (8328)	1/30/2003 9:43:14 PM
From: Return to Sender	Respond to of 95757

From 2020Insight: Semiconductors . . . ESS Technology (chips for digital video-disc players) expects a first-quarter loss, excluding certain items, of 1 cent to 7 cents a share. It was expected to have a profit of 2 cents. Rambus rallied after a federal appeals court threw out a fraud ruling against the Los Altos, Calif., memory chip technology firm. The court reversed rulings from a Virginia court in a case brought by Infineon. The breadth of Rambus' patent claims was confirmed, and it was found that the company, which derives the overwhelming majority of revenue from the licensing of its technology, abided by the rules of JEDEC, an industry standard setting organization. Maxim Ingrated reported 2nd quarter revenues of $286 million, flat Quarter over Quarter, and EPS of $0.23. Revenues came in shy of our expectations, but earnings were in line. There is no difference between Maxim's proforma and GAAP earnings. Gross margin of 69.7% was up 20bp on flat revenues. Attribute the improvement to a richer representation of traditional Maxim products in the quarter. Maxim reduced operating costs by 5% during the quarter to $88 million. These savings gave Maxim a one-cent EPS improvement, while revenues were flat with 1st quarter. 3rd quarter will rely heavily on turns as backlog ended FQ2 down 8% Quarter over Quarter. On the positive side, bookings have been materially stronger in the first four weeks of the quarter. Analysts are leaving our 3rd quarter estimate unchanged for now, at revenues of $298 million, up 4% Quarter over Quarter and EPS of $0.24. Although the recent bookings strength may attenuate during March also think that low single- digit growth is achievable regardless. Semiconductor Equipment . . . Ultratech Stepper (maker of lithography systems to help produce semiconductors) had a fourth-quarter loss, excluding certain items, of 17 cents a share. On that basis, it was expected to have a loss of 13 cents. 2020insight.com