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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Lazlo Pierce who wrote (6651)	4/9/1998 1:30:00 PM
From: Lazlo Pierce	Respond to of 18691

from briefing.com <<DALLAS SEMICONDUCTOR CORP. (DS) 34 +1/8. Given the beating this issue has taken in recent weeks, it is no longer news that this maker of CMOS and integrated circuits and semiconductor-based systems posted a Q1 profit below market expectations. While the company had already warned that Q1 results would come in below initial market consensus of $0.62 a share, DS reported last night that it earned $0.45 a share, four cents below revised market estimates and below year-ago net of $0.50 a share. When it warned last month, it said that economic woes in Asia and weakness in wireless communications and in the PC/workstation peripheral markets would hurt both revenue and earnings. Well, the company did not disappoint on this front as revenues actually fell sequentially by more than the company had envisioned in its March warning statement. revenues for the period fell 1.4% to $87.45 million from year-ago level of $88.7 million and 8.3% on a sequential basis. The company cited lower shipments to Asia along and a decline in shipments to Europe, coupled with flat shipments in North American for the dismal earnings report. While the environment for this sector has been rough since Asia began to tank, it may be too early to say that the market has bottomed. Hence, despite today's price buoyancy, this issue could still have some further downward price exposure if Asia does not rebound soon and lackluster demand elsewhere continue to drag down shipments. >>