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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (18735)	4/12/1998 3:51:00 AM
From: Teri Skogerboe	Read Replies (1) \| Respond to of 70976

Silicon Valley Group <SVGI.O> lays off 209 workers SAN JOSE, Calif., April 9 (Reuters) - Silicon Valley Group Inc. said late Wednesday it has cut 209 jobs, reducing its workforce by about six percent. The wafer processing systems supplier said in a news release the move affects 77 regular employees and 132 temporary workers. The decision comes about a month after Silicon Valley Group warned Wall Street that its second quarter earnings would come in about 25 percent below expectations. "The cyclicality of the semiconductor industry creates an uncertain business environment under which all equipment manufacturers must operate," Silicon Valley Group chairman and chief executive officer Papken Der Torossian said. "We are taking these measures to keep the company strong and well positioned for the next economic upturn. Although we are making cutbacks where necessary, we are maintaining full-force progression with all manufacturing, engineering and new product development programs and will continue to invest in optical production capabilities," Der Torossian said. Silicon Valley has taken other cost containment measures as well, it said. It has imposed a hiring freeze for all positions not related to future business development or customer support, as well as discretionary expense reductions, the company said. Also, in addition to its customary holiday breaks, Silicon Valley said it has also scheduled 15 shutdown days, which will occur May 18 through 22, July 20 through 24 and August 17 through 21, 1998. The shutdown days will affect the majority of U.S. employees not directly supporting customer requirements, it said. 00:24 04-09-98 Copyright 1998 Reuters Limited. All rights reserved. ------ Dallas Semi <DS.N> Q1 results hurt by soft demand DALLAS, April 8 (Reuters) - Dallas Semiconductor Corp. said Wednesday that a decline in first quarter results versus the year ago first quarter reflected soft demand across much of the semiconductor industry. While noting that lower shipments to Asia caused the majority of the decline, shipments to Europe had also declined and remained roughly flat in North America. The company made the comments in reporting net sales of $87.4 million for the quarter ended March 29, 1998, slightly down from the $88.7 million for the first quarter of 1997. Net income for the semiconductor maker's first quarter fell to $13.5 million, or $0.45 per share, compared to $14.4 million, or $0.50 per share for the first quarter of 1997. "Soft demand affecting much of the industry appears to be responsible for the disappointing first quarter results," Vin Prothro, Dallas Semiconductor Chairman and CEO, said in a statement. "Lower shipments to Asia caused the majority of the sales decline compared to the fourth quarter," he said, adding: "Shipments to Europe were also down while North American shipments were approximately flat." Prothro said that the company continues to operate efficiently during this period of soft demand with gross and operating margins over 50 percent and 20 percent, respectively. 17:05 04-08-98 -----------------