Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (4237)	6/6/1998 7:42:00 PM
From: MikeM54321	Respond to of 9980

Re: Asia Warnings (older warning) AMP Second Quarter Results to be Below Expectations, AMP to Announce Actions HARRISBURG, Pa. May 15 - AMP Inc. said Friday that April results were less than planned and expects that second quarter 1998 operating earnings will be below those of the second quarter 1997. April 1998 sales were down about seven percent in U.S. dollars, down about four percent in local currencies compared to April 1997. Sales weakness is primarily occurring in Asia/Pacific and the United States, continuing trends experienced over the past two quarters. Billing weakness has been primarily in the computer and communications markets. Commenting on the situation, CEO and President William J. Hudson said, ''We are finalizing a comprehensive action plan to restore our financial growth. We will communicate the specifics of our plans by the time we report results for the second quarter.'' Headquartered in Harrisburg, AMP has 46,500 employees in 53 countries in Europe, Asia/Pacific and the Americas and serves customers in these industries: automotive, aerospace, computer networking, power and utilities, telecommunications, industrial, and consumer goods. AMP had sales of $5.75 billion in 1997.