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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (2155)	4/1/2003 7:26:22 PM
From: SemiBull	Read Replies (1) \| Respond to of 2313

Asyst Technologies Puts 4Q Sales At $57M Tuesday April 1, 6:09 pm ET FREMONT, Calif. (Dow Jones)--Asyst Technologies Inc. lowered its fourth-quarter sales guidance amid continued industry weakness and purchasing delays. In a press release Tuesday, the semiconductor manufacturing automation systems said it expects fourth-quarter sales of $57 million, down from its February forecast of $70 million to $72 million. Both estimates take into account the sale of the company's wafer and reticle carrier, or WRC, product lines. A Thomson First Call survey of eight analysts yielded a mean sales estimate of $79.8 million for the quarter. For the fourth quarter ended March 31, 2002, Asyst reported a loss of $13.2 million or 37 cents a share on revenue of $38.4 million. Asyst also said that sales at its 51%-owned Asyst-Shinko unit were lower than expected as a result of customers pushing out portions of several projects. Shares of Asyst were halted for news at 4:23 p.m. EST at $5.05 and resumed at 4:49 p.m. EST. The shares had recently fallen to $4.60 in after-hours trading. Asyst expects fourth-quarter consolidated gross margin at or slightly below guidance provided in February, when it forecast margins at the "low end" of its previous 24% to 26% guidance, reflecting the lower than anticipated sales in the base business but ASI gross margin is expected to substantially improve over the previous quarter. Consolidated research and development and selling, general and administrative expenses are expected to be within the company's original guidance of $29 million to $30 million. On Feb. 11, the company cut its sales guidance from $75 million to reflect the sale of its WRC product lines. At the time, the company also said its pro forma operating expenses should hit the low end of its previously estimated $29 million to $30 million. Asyst said that its March bookings fell to $36 million from $41 million, adjusted for the sale of the WRC product lines. With its "limited visibility", the company said that it expects first-quarter sales of about $45 million, well below a First Call estimate of about $72 million based on a survey of seven analysts. For the first quarter ended June 30, Asyst had sales of $55.9 million. Asyst said that many of its key customers are planning to increase spending in the second half but "believes that any substantial increases in the period will be dependent on a more stable global economic climate." The company also said that it is "seeking efficiencies" to allow it to lower its break-even sales level. A company representative wasn't immediately available to explain what kind of moves the company plans. Asyst plans to releae fourth-quarter results April 29. Company Web site: asyst.com -Jacquie Jordan; Dow Jones Newswires; 201-938-5400