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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: mph who wrote (8872)	1/20/1998 9:40:00 PM
From: JAG	Read Replies (2) \| Respond to of 14577

here is the Reuters story. SANTA CLARA, Calif., Jan 20 (Reuters) - S3 Inc said that it will lay off about 100 employees, or about 15 percent of its workforce, in order to cut its operating expenses. S3, which develops graphics accelerator chips, said it will start its restructuring plan as of today. A spokeswoman said she was not aware of any need for a charge to earnings to cover the layoffs. The company said it will report its earnings next week and it has already forecast to Wall Street that it does not expect to have a profitable first half of 1998, since it missed a product cycle with one of its graphics accelerator chips. "What we have publicly told people is that we do expect to have a loss in the first half of this year," a spokeswoman said, adding that profits are expected in the second half, due to two new products in development that will add to earnings.