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Technology Stocks : FSII - The Worst is Over? -- Ignore unavailable to you. Want to Upgrade?

To: Tom Smith who wrote (1668)	12/22/1997 7:27:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 2754

MINNEAPOLIS, Dec 22 (Reuters) - FSI International Inc, citing economic turbulence in Asia, said Monday it expects fiscal 1998 sales to increase from its fiscal 1997 level of $252.4 million but likely will not exceed $300 million. "The recent economic and monetary turbulence in Asia has created uncertainty in the microelectronics industry," said Joel Elftmann, FSI chairman and chief executive officer. "Customers around the world are more cautious given the situation in Asia. We are seeing a softening in orders, particularly from Korean semiconductor manufacturers and U.S. thin film head manufacturers," he said in a news release. FSI supplies processing equipment for the microelectronics industry. "While we expect overall semiconductor manufacturing equipment spending to be weaker because of conditions in Asia, we continue to believe that underlying semiconductor demand is strong, and that particularly our U.S. and European customers will increase their capital equipment investments in calendar year 1998," said Elftmann. "Given the uncertainty of the market, we could see delays or cancellations in the next few months. We continue to expect FSI sales to increase in fiscal 1998 from fiscal 1997 levels. However, it is unlikely that fiscal 1998 sales will exceed $300 million," he said. In the last three fiscal years, FSI sales into the Asian market, including Japan, ranged from about 15 to 20 percent of total annual sales.