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

To: Cymeed who wrote (11839)	12/22/1997 9:12:00 PM
From: Cymeed	Read Replies (1) \| Respond to of 25960

HK opened up, so did Taiwan. Japan is closed today for a Holiday. The bad news is S. Korea, which is down > 6% currently, after Moody's downgraded Korea government's bond to junk level, surprise, surprise. The world is still not pretty and clear. But of course, if it is clear, stock should have a decided direction and opportunities will be vanished.

To: Cymeed who wrote (11839)	12/23/1997 12:15:00 AM
From: Yakov Lurye	Read Replies (1) \| Respond to of 25960

Re: CYMI 4Q results and increased headcount Cymeed, your assumption about the increased headcount had received an immediate confirmation. Any guesses how much of an impact this would have on the expense side? A very approximate calculation: Average headcount in 4Q between 725 and 825, say 775 Average headcount in 3Q unknown, say 650 (based on hiring 500 workers in 4 quarters); quarter-to-quarter headcount growth of about 20-25% 3Q R&D, sales and G&A expenses 12.1M; assuming same spending level per person as before, these would grow roughly by $2.5-$3M in 4Q - that's still less than $6M extraodinary charges reflected in 3Q earnings,so 4Q earnings should be better even with flat sales. In itself, additional hiring in 4Q is a positive indicator - provided that management can use new employees effectively. I may be way off with my calculations, any comments will be appreciated. Maybe Q2 vs. Q3 comparison could provide additional insights. Regards, Y