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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA -- Ignore unavailable to you. Want to Upgrade?


To: Proud_Infidel who wrote (1610)10/23/2003 9:58:52 AM
From: dantecristo  Respond to of 1929
 
China and VSEA - a match made in heaven for fascist oppressors of civil liberties!
"SLAPP Happy
Late last year, Michelangelo Delfino and Mary Day were busy preparing for the publication of their first book, Be Careful Who You SLAPP (SLAPP stands for Strategic Lawsuit Against Public Participation). The book [ mobeta.com ], essentially a 400-page briefing of the couple's three-year court battle with their former employer, is well titled, since it comes as a slap in the face to said ex-employer, Palo Alto-based Varian corporation. Varian thought it had silenced the loquacious Los Altos duo when it won a court trial forbidding them from posting nasty diatribes on Varian's financial Yahoo! pages ("InterNot Free Speech," March 27, 2003), but like another cyborg menace, they're baaaa-ack. ... Delfino and Day have appealed the injunction, and now, in a legal flip-flop, Varian seems to be in hot water for its attempts to suppress the book. In November 2002, Delfino and Day allege that Varian's lawyers had sent letters to bookstores and advertising outlets warning them away from the book by implying that the court order, halted because of the appeal, was still in effect. As a result, distributors like Barnes & Noble declined to carry SLAPP, and local papers declined to advertise it. "I just felt that I know nothing about the book, nothing about them, nothing about anything," admits Paul Nyberg, publisher of the Los Altos Town Crier. Nyberg's paper had initially accepted Delfino and Day's ad for the book, then dropped it after being contacted by Varian's lawyers. "And I thought, here's this big [judgment] that came in, and we just discussed it amongst our staff here and said, 'Well, we're not obligated to run this ad. Let's not get ourselves involved.'" That, according to Jon Eisenberg, Delfino and Day's appeals attorney, was plain wrong. "There would have been nothing wrong," says Eisenberg, "had [Varian's attorneys] written to Barnes & Noble and said, 'A book has been published. We believe it is defamatory. We urge you to consider carefully whether or not you should be distributing this book because it is defamatory.' There is nothing wrong with that. What is wrong is to say that the distribution of this book would violate a court order, because it's not true." ... In a rare move, the appeals court has elected to consider Varian and its attorneys for contempt at the same time it hears Delfino and Day's appeal. A judgment is due within 90 days. "Is it embarrassing [for Varian and its attorneys]?" continues Eisenberg. "Certainly, I'd be embarrassed. I'd be far more embarrassed if it was adjudicated for contempt. If they are held in contempt of the Court of Appeal, to me that would be mortifying." "
metroactive.com



To: Proud_Infidel who wrote (1610)10/30/2003 4:56:41 PM
From: Proud_Infidel  Read Replies (2) | Respond to of 1929
 
Varian Semiconductor Equipment Associates Reports Fiscal 2003 Fourth Quarter Results
Thursday October 30, 4:29 pm ET

biz.yahoo.com

GLOUCESTER, Mass.--(BUSINESS WIRE)--Oct. 30, 2003--Varian Semiconductor Equipment Associates, Inc. (Nasdaq: VSEA - News) today announced results for its fiscal 2003 fourth quarter ended October 3, 2003.

Revenue for the fourth quarter of fiscal 2003 totaled $84.8 million, compared to revenue of $95.8 million for the same period a year ago. Shipments for the fourth quarter of fiscal 2003 were $80.0 million. The Company recorded net income of $1.0 million, or $0.03 per diluted share during the fourth quarter of fiscal 2003, compared to $1.4 million, or $0.04 per diluted share for the same period a year ago. Gross margin for the fourth quarter of fiscal 2003 was 44 percent, compared to 39 percent for the same period a year ago. Gross margin was favorably affected in the fourth quarter of fiscal 2003 by $1.5 million due to more efficient inventory management, including the sale of certain inventory for which the carrying value had been reduced in previous periods and the reduction of adverse inventory purchase commitments.

Cash and short-term investments totaled $350.5 million as of the end of the fiscal 2003 fourth quarter, reflecting an increase of $24.3 million during the quarter.

Richard A. Aurelio, Varian Semiconductor's chairman and chief executive officer, said, "We are a leader in ion implant because of our platform of VIISta implanters. Recently, we introduced our next generation product, the VIISta 80HP, the only single-wafer high current tool on the market. With many leading chipmakers indicating their preference for single-wafer rather than batch processing at 300 mm advanced technology nodes, it is no surprise that the VIISta 80HP is having such rapid market acceptance."

Robert J. Halliday, chief financial officer, provided forward guidance, "We currently expect revenue for the first quarter of fiscal 2004 to be between $83 and $93 million, and gross margin as a percentage of revenue is expected to be in the low to mid 40s. Earnings per share is expected to range between $0.00 and $0.08 per diluted share."

Halliday also commented, "The growing demand for memory chips is expected to contribute to increased business activity starting in the first quarter of fiscal 2004."