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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (7765)	10/27/2003 2:07:31 PM
From: Kirk ©	Respond to of 25522

I have a hard time saying you are wrong there... two heads with one brain! LOL The grey matter from one head left for WCOM.

To: Sun Tzu who wrote (7765)	10/27/2003 7:42:27 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Axcelis posts loss despite big order rates in Q3 Silicon Strategies 10/27/2003, 5:20 PM ET BEVERLY, Mass.-- Under its new, revised revenue recognition policy, chip-equipment maker Axcelis Technologies Inc. posted worldwide sales of $78.6 million for the third quarter, including sales from its joint venture in Japan, Sumitomo Eaton Nova Corp. (SEN) Third-quarter GAAP net revenue, excluding the joint venture, was $59.0 million. This compared to worldwide sales of $93.1 million in the like period a year ago. Net loss for the quarter, including the effect of the change in revenue recognition policy of $10.3 million, or minus $0.10 per share, was $31.9 million, or minus $0.32 per share. This compares to break-even results of $191,800 a year ago. The company revised its revenue recognition policy to comply with recently issued EITF 00-21, which became effective on July 1, 2003. Mary Puma, president and CEO, was bullish about Q3. "We believe that the continued improvement in our worldwide shipments in the third quarter is an indicator of strengthening industry dynamics," Puma said in a statement. "This, combined with the 29 percent increase in orders we experienced this quarter, gives us reason to be optimistic that 2004 will be a year of growth for Axcelis. Worldwide orders in the third quarter are the highest we have experienced since becoming a public company in 2000," she said. "We believe we have turned the corner from a business perspective as well. We continued to take action during the third quarter to lower our break-even level and we believe that the business is now correctly sized for profitability through the cycle. We expect to break-even and be cash flow positive in the fourth quarter based on our revenue outlook and existing cost structure. We also look forward to the significant financial leverage we will realize as our business continues to improve," she added. Determined under the company's revised revenue recognition method, worldwide revenue (including SEN) is expected to be $150 million to $160 million on shipments of $155 to $165 million. Net revenue (excluding SEN) is expected to be in the range of $88 to $93 million on shipments of $95 to $100 million. The company expects break-even results from operations and positive cash flow.