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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Paul Dieterich who wrote (5802)	6/12/1998 9:27:00 AM
From: Kirk Winkler	Read Replies (1) \| Respond to of 10921

More bad news. I think we will be seeing blood gushing down the street in the next few quarters.... Of course I'm looking forward to some new buying opportunities. I sat by and watched when AMAT was at 11 a little under two years ago. Not this time! Kirk AG ASSOCIATES ANTICIPATES LOWER THAN EXPECTED Q3 RESULTS 6/11/98 18:26 Business Editors SAN JOSE, Calif.--(BUSINESS WIRE)--June 11, 1998--AG Associates (NASDAQ:AGAI), a leading supplier of advanced rapid thermal processing (RTP) equipment used in the manufacture of integrated circuits (ICs), today announced that it expects to report lower than anticipated total revenues, ranging from $9.5 million to $8.7 million, for the third fiscal quarter ending June 30, 1998. These projections are tentative as the cancellation or receipt of a one system order could substantially change these results. AG Associates attributes its third quarter decline primarily to push outs in equipment orders from chipmakers worldwide. Commenting on the expected lower third quarter earnings, Dr. Arnon Gat, AG Associates chairman and chief executive officer noted, "Semiconductor manufacturers worldwide continue to delay their investments in capital equipment due to the continuing Asian financial crisis, oversupply of DRAMs and the significant drop in personal computer sales. These pushouts by some of our key customers have made us extremely cautious about the near-term effect on AG Associates. As a result, we will continue to carefully manage our business operations and expenses based on a revised earnings forecast." Gat continued, "Industry analysts predict the long-term outlook for the semiconductor equipment industry will remain positive. Despite this current period of uncertainty, we are continuing to invest in the next-generation technologies that are expected to strengthen our growing product portfolio, as well as allow us to maintain a leading position in the RTP market and fully capitalize on the industry upturn once the business climate improves." Except for historical information, the matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including the company's and its independent auditors' quarterly review, the failure of the semiconductor equipment industry to recover, the degree to which orders and shipments are affected by the economic instability in Asia, the ability of customers to reschedule and cancel orders, the timely development and acceptance of new products, pricing competition, the uncertainties of ongoing negotiations, the unpredictability of litigation and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release. AG Associates is a leading supplier of rapid thermal processing (RTP) equipment to the worldwide semiconductor industry. Founded in 1981, AG Associates is headquartered in San Jose, Calif. and maintains customer service and support centers in the United States, Europe and the Far East to support its global customer base. The company's common stock trades on the Nasdaq Stock Market under the symbol AGAI. For more information on the company, visit AG Associates at: agassociates.com on the World Wide Web. --30--ms/sf* aj/smm/sf CONTACT: AG Associates, Inc. Arnon Gat, 408/935-2001 (Chairman, CEO) or MCA, Inc. Marie Labrie, 650/968-8900