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

To: StanX Long who wrote (9478)	4/17/2003 8:23:18 PM
From: StanX Long	Read Replies (1) \| Respond to of 95536

Conexant narrows loss, sees revenues rising 4/17/2003 7:56:39 PM www2.marketwatch.com SAN FRANCISCO, April 17 (Reuters) - Conexant Systems Inc. (CNXT) , a communications chipmaker, on Thursday posted a narrower quarterly loss and forecast a gain of up to 7 percent in current-quarter sales on improving demand for broadband and other equipment. The Newport Beach, California, company, whose chips are found in most fax machines and many modems and cable set-top boxes, reported a net loss of $68 million, or 26 cents per share, compared with a net loss of $200.7 million, or 78 cents per share, a year earlier. The supplier of integrated circuits and subsystems to such tech manufacturers as Dell Computer Corp. (DELL) , Nokia <NOK1V.HE> (NOK) and Samsung Electronics Co. Ltd. <05930.KS> said its revenues in the quarter ended March 28 rose to $158.4 million from $148.7 million a year earlier. Excluding charges, Conexant posted a loss from continuing operations of 11 cents per share, compared with a year-earlier loss of 29 cents per share. Analysts had on average expected the rival of Agere Systems Inc. (AGRA) , Broadcom Corp. (BRCM) and Texas Instruments Inc. (TXN) to post a loss of 12 cents a share and revenues of $159.9 million, according to Thomson First Call. Conexant Chairman and Chief Executive Dwight Decker told Reuters the expected rise in fiscal third-quarter revenues reflected improving demand for broadband products used in high-bandwidth digital subscriber line modems, satellite set-top boxes and home network processors. Conexant's outlook on its markets is "moderately positive" if economic effects from the war in Iraq and the SARS virus are set aside, Decker said, adding that business was "better than last year and getting incrementally better." Shares in Conexant rose in after-market trade to $1.92 after closing up 7 cents, or 4.3 percent, at $1.71 on Thursday on the Nasdaq.