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.

Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: gs who wrote (4252)	7/8/1998 5:29:00 PM
From: Roger B Finlen	Respond to of 6317

HADCO'S EARNINGS WARNINGS !!!!!!!!! Hadco Corporation Expects Lower Q3 Earnings SALEM, N.H., July 8 /PRNewswire/ -- HADCO Corporation (Nasdaq: HDCO - news) today announced that net sales for the third quarter are expected to be approximately $194 million resulting in an expected loss per share (excluding any non-recurring costs) in the range of approximately ($.45) to ($.50). Backlog is approximately $107 million as of July 3, 1998, down from $126 million (including Continental Circuits) at the end of the second quarter. Andrew E. Lietz, President and CEO stated, ''Bookings in the third quarter are below our expectations, which will result in net sales and net income (loss) at levels below current analyst estimates. The slowdown is the result of several factors including the general slowdown in the broad electronics industry, customer product transitions, customer inventory adjustments and the economic situation in Asia.'' Timothy P. Losik, Sr. Vice President and CFO commented, ''The current business environment is dynamic and challenging. We are continually making incremental adjustments in the cost structure of the Company in order to reduce our overall costs. We have evaluated a series of possible actions aimed at reducing our fixed cost structure. The measures taken will be focused on attaining breakeven net income levels as soon as possible.'' Mr. Lietz concluded, ''We remain optimistic about the future opportunities for the Company. The integration of Continental Circuits and the consolidation of our East Coast Tech Centers are progressing on plan. Both of these activities are aimed at serving our customers with a broad set of capabilities and growing our market share position.'' Hadco is the largest manufacturer of advanced electronic interconnect products in North America. The Company offers a wide array of sophisticated manufacturing, engineering and systems integration services to meet its customers' electronic interconnect needs. The Company's principal products are complex multilayer rigid printed circuits and backplane assemblies. Hadco provides customers with a range of products and services that includes development, design, quick-turn prototype, pre-production, volume products, and backplane assembly. Hadco's customers are a diverse group of original equipment manufacturers and contract manufacturers in the computing (mainly workstations, servers, mainframes, storage and notebooks), data communications/telecommunications and industrial automation industries, including process controls, automotive, medical and instrumentation. The Company operates twelve facilities, with eleven in the United States and one facility in Malaysia. Any statements in this press release that do not describe historical facts, including statements relating to the Company's expectations for the third and fourth quarters of fiscal 1998, may constitute forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. OPINIONS PLEASE !!!!!!!!!!