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To: Gottfried who wrote (9362)	4/9/2003 9:25:56 PM
From: StanX Long	Read Replies (1) \| Respond to of 95622

Still some bad news out there, Stan. Applied Micro to Cut 286 Jobs in 2003 2 hours, 38 minutes ago Add Technology - Reuters to My Yahoo! story.news.yahoo.com By Duncan Martell SAN FRANCISCO (Reuters) - Communications chip maker Applied Micro Circuits Corp. (Nasdaq:AMCC - news), citing the extended industrywide slump, will slash 31 percent of its staff, or 286 jobs, by year-end. The company said on Wednesday that the layoffs -- coupled with the consolidation of certain facilities and the previously announced closure of a chip manufacturing plant -- will reduce ongoing operating expenses by $35 million to $40 million and cut fixed cost of sales by $15-17 million annually. Applied Micro has suffered as its customers -- primarily telecommunications carriers -- have drastically cut back on spending due to the harsh economic climate, increased competition and slack demand. The company said it would have 626 employees by the end of the year, from 912 on Jan. 1. Last July, it cut 275 staff, or 25 percent of its work force. "This was inevitable if they wanted to survive as an independent company," said Kalpesh Kapadia, an analyst at C.E. Unterberg, Towbin, which does not have an investment banking relationship with Applied Micro. Kapadia said he does not own shares in the company. "These companies were initially sized for a billion (dollars) a year in revenue and they're doing less than $100 million annually," Kapadia said. Dave Rickey, Applied Micro's chief executive, said in a statement the restructuring would eliminate overhead in certain business units "without sacrificing major product development or critical customer relationships." He added the cuts would enable the San Diego-based company to return to profitability more quickly. Applied Micro said it expected to take a charge for the restructuring in its financial statements for the March, June and September 2003 quarters. It said it had not yet decided the size of the charge but that it expected the reorganization to be completed by the end of June 2003. It said it would provide more details on its quarterly conference call on April 24. Although the company is struggling, it does have $1.05 billion in cash, cash equivalents and short-term investments on its balance sheet, as of December 31, 2002. But that amount of cash is problematic as well. "Just because a company has a billion dollars on the balance sheet doesn't mean they can continue to burn cash," Kapadia said. "The company needs to be more creative with its cash." A spokeswoman for the San Diego-based company said it had no comment beyond the press release it issued to announce the layoffs. Shares of Applied Micro were unchanged in after-hours trading, having closed down 9 cents, or 2.6 percent, at $3.34 on the Nasdaq. The stock has declined from a record of more than $105 a share in October 2000. In the last 12 months, the stock has fallen 54 percent, compared with a 46 percent decline in the Philadelphia Semiconductor Index (^SOXX - news) in the same time period.

To: Gottfried who wrote (9362)	4/10/2003 9:13:11 PM
From: Gottfried	Read Replies (1) \| Respond to of 95622

bpNDX unchanged at 57% Mar26 Mar27 Mar28 Mar31 Apr01 Apr02 Apr03 Apr04 Apr07 Apr08 Apr09 Apr10 AAPL AAPL AAPL AAPL ADBE ADBE ADBE ADBE ALTR ALTR ALTR ALTR AMAT AMAT AMAT AMAT AAPL AAPL AMGN AMGN AMGN AMGN ADBE ADBE AMZN AMZN AMZN AMZN ALTR ALTR APOL APOL APOL APOL AAPL AMAT AMAT BBBY BBBY BBBY BBBY AAPL AAPL AAPL AAPL AAPL ADBE AMGN AMGN BGEN BGEN BGEN BGEN ADBE ADBE ADBE ADBE ADBE ALTR AMZN AMZN BMET BMET BMET BMET ALTR ALTR ALTR ALTR ALTR AMAT APOL APOL CHKP CHKP CHKP CHKP AMAT AMAT AMAT AMAT AMAT AMGN BBBY BBBY CHRW CHRW CHRW CHRW AMGN AMGN AMGN AMGN AMGN AMZN BGEN BGEN CMCSA CMCSA CMCSA CMCSA AMZN AMZN AMZN AMZN AMZN APOL BMET BMET CMVT CMVT CMVT CMVT APOL APOL APOL APOL APOL BBBY CHKP CHKP COST COST COST COST BBBY BBBY BBBY BBBY BBBY BMET CHRW CHRW CTAS CTAS CTAS CTAS BMET BMET BMET BMET BMET CHKP CMCSA CMCSA CTXS CTXS CTXS CTXS BRCM CHKP CHKP CHKP CHKP CHRW CTAS CTAS DISH DISH DISH DISH CHKP CHRW CHRW CHRW CHRW CMCSA CTXS CTXS EBAY EBAY EBAY EBAY CHRW CMCSA CMCSA CMCSA CMCSA CTAS DISH DISH ERTS ERTS ERTS ERTS CMCSA CTAS CTAS CTAS CTAS CTXS EBAY EBAY ESRX ESRX ESRX ESRX CTAS DISH DISH DISH DISH DISH ERTS ERTS EXPD EXPD EXPD EXPD DISH EBAY EBAY EBAY EBAY EBAY ESRX ESRX FAST FAST FAST FAST EBAY ERTS ERTS ERTS ERTS ERTS EXPD EXPD GENZ GENZ GENZ GENZ ERTS ESRX ESRX ESRX ESRX ESRX GENZ GENZ GILD GILD GILD GILD ESRX EXPD EXPD EXPD EXPD EXPD GILD GILD HSIC HSIC HSIC HSIC EXPD GENZ GENZ GENZ GENZ GENZ HSIC HSIC ICOS ICOS ICOS ICOS GENZ GILD GILD GILD GILD GILD ICOS ICOS IDPH IDPH IDPH IDPH GILD HSIC HSIC HSIC HSIC HSIC INTC IDPH INTC INTC INTC INTC HSIC ICOS ICOS ICOS ICOS ICOS JDSU INTC JDSU JDSU JDSU JDSU INTC INTC INTC INTC INTC INTC JNPR JDSU JNPR JNPR JNPR JNPR JDSU JDSU JDSU JDSU JDSU JDSU KLAC JNPR KLAC KLAC KLAC KLAC JNPR JNPR JNPR JNPR JNPR JNPR LLTC KLAC LLTC LLTC LLTC LLTC KLAC KLAC KLAC KLAC KLAC KLAC MEDI LLTC MEDI MEDI MEDI MEDI LLTC LLTC LLTC LLTC LLTC LLTC MERQ MEDI MERQ MERQ MERQ MERQ MEDI MEDI MEDI MEDI MEDI MEDI MSFT MERQ MSFT MSFT MSFT MSFT MERQ MERQ MERQ MERQ MERQ MERQ MXIM MSFT MXIM MXIM MXIM MXIM MSFT MSFT MSFT MSFT MSFT MSFT NTAP MXIM NTAP NTAP NTAP NTAP MXIM MXIM MXIM MXIM MXIM MXIM NVDA NTAP NVDA NVDA NVDA NVDA NTAP NTAP NTAP NTAP NTAP NTAP ORCL NVDA ORCL ORCL ORCL ORCL NVDA NVDA NVDA NVDA NVDA NVDA PCAR ORCL PCAR PCAR PCAR PCAR ORCL ORCL ORCL ORCL ORCL ORCL PDCO PCAR PDCO PDCO PDCO PDCO PCAR PCAR PCAR PCAR PCAR PCAR PIXR PDCO PIXR PIXR PIXR PIXR PDCO PDCO PDCO PDCO PDCO PDCO PTEN PIXR PTEN PTEN PTEN PTEN PIXR PIXR PIXR PIXR PIXR PIXR RYAAY PTEN RYAAY RYAAY RYAAY RYAAY PTEN PTEN PTEN PTEN PTEN PTEN SANM RYAAY SANM SANM SANM SANM RYAAY RYAAY RYAAY RYAAY RYAAY RYAAY SBUX SANM SBUX SBUX SBUX SBUX SANM SANM SANM SANM SANM SANM SEBL SBUX SNPS SNPS SNPS SNPS SBUX SBUX SBUX SBUX SBUX SBUX SNPS SNPS SPLS SPLS SPLS SPLS SEBL SEBL SEBL SEBL SEBL SEBL SSCC SSCC SSCC SSCC SSCC SSCC SNPS SNPS SNPS SNPS SNPS SNPS TEVA TEVA TEVA TEVA TEVA TEVA SSCC SSCC SSCC SSCC SSCC SSCC TMPW TMPW TMPW TMPW TMPW TMPW TEVA TEVA TEVA TEVA TEVA TEVA USAI USAI USAI USAI USAI USAI USAI USAI USAI USAI USAI USAI VRTS VRTS VRTS VRTS VRTS VRTS WFMI WFMI WFMI WFMI WFMI WFMI WFMI WFMI WFMI WFMI WFMI WFMI XLNX XLNX XLNX XLNX XLNX XLNX XLNX XLNX XLNX XLNX XLNX XLNX YHOO YHOO YHOO YHOO YHOO YHOO YHOO YHOO YHOO YHOO YHOO YHOO