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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (10794)	12/1/1997 4:40:00 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 25960

Robewrt, you are right, but that happened long after I posted. It looks much better here, INTC seems posed to break through 82 and I think that will relieve a lot of the fear in the semi segment. Tday, most of the quipment maker had timid advances, but that may change. If the inevitable retracement around Wednesday is well contained, I migh turn bull before my time (my time was Dec 15, and I'll have to advance my clock a little). Zeev

To: FJB who wrote (10794)	12/1/1997 4:48:00 PM
From: BillyG	Read Replies (1) \| Respond to of 25960

Improved solid state laser.................. techweb.cmp.com A service of Semiconductor Business News, CMP Media Inc. Story posted at 8:30 a.m. EST/5:30 a.m. PST, 12/1/97 SLI develops 100-watt laser bar BINGHAMTON, N.Y.--Semiconductor Laser International Corp. here said it has successfully developed and produced 100-watt QCW laser bars, which double the output power of products being sold by the company. Semiconductor Laser International said it believes the new laser bars will find their way into a range of applications, including industrial and medical systems needing pulsed pumping of solid-state lasers. The company said its 100-watt laser bar technology has demonstrated sustain peak performance through all phases of test, burn-in and lifetime. Initial products have been delivered to customers for evaluation, according to the company.

To: FJB who wrote (10794)	12/1/1997 5:46:00 PM
From: Yakov Lurye	Read Replies (3) \| Respond to of 25960

Re: future revenues from consumables. Robert, Gary, Cymeed, Zeev, thanks for responses to my query. Cymeed's spreadsheets illustrate my point: as the base of working DUV expands, recurring revenues become important. They may be ignored for 1997, but not in the 1998-9 models. $250,000/year/system in laser consumables from the AMD article seems real high, but the revenue of $50,000/yr/system - about 10% of the original laser system cost - could be plausible. If we are to believe that 2000 DUV systems will be eventually deployed, this is extra $100m/yr in revenues. I've been looking through the early posts on the thread (amazing - 10000 posts in last 3 months), but did not find much information the subject. In particular, could not find the 30% revenues reference mentioned by Robert. I want to post though a few tidbits that are new to me, and might be of interest for the newcomers. On the qualitative level, they are also useful for adjusting the earnings model: 1) According to one post (1022), convertible debentures must be included in fully diluted EPS calculations. This may be of some importance when CYMER starts reporting fully diluted earnings in 1998. 2) The following excerpt is from a post #1095. The writer worked with CYMI lasers and complained about software, equipment failures, lack of support etc. Sure enough, he was flamed a lot and does not post here anymore: "... Cymer is not interested in service. They want laser sales. That is why they train the customers and give them much more information than any other company I have seen give out. They would like us to fix and change out parts as much as we are able to. We have been receiving a lot of free work and parts as chambers and power supplies have been failing before their lifetimes. .But Cymer will be selling chamber & output coupler optics, and chambers after their warranty ends." The way I read it, the poster was reporting real problems typical for a new equipment line (in this case, 5000 series) early in the life cycle. On-the fly changes (software bug fixes, thyratrons replacement etc) did squeeze the margins last Q. The problems are more or less taken care off now - at least the management did suggest so during the CC. IMO, we may see higher margins after 4Q97. Also, it is understandable that early in the game, CYMER's interest lies in getting customers to commit to their equipment. Selling spare chambers and coupler optics will come later. Hope we'll learn more about the subject. 3). Somewhere in August there was a post that Komatsu is now producing 10 lasers/month. If their current capacity is 120 lasers/year, CYMER has a big lead for 1998 orders. We may learn more after the Semicon in Japan. Regards, Y.