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To: LLCF who wrote (1754)	7/20/1998 9:54:00 PM
From: Phantom Dialer	Respond to of 2946

Notes I got from the call: Fab expanisons reduced Asia still struggling Low cost PCs are having an effect Conditions could continue to 1999 Experiencing some order pushouts Reduction of 700 people Strong balance sheet Zero Debt 150 million line of credit acquired VERY confident about the future Agressively investing into the future - Lithography the KEY (DUV) Micrascans are being used for .15u line widths even though they are marked as .18u....customers pushing the technological advances of the machines of SVG. SVG believes their step and scans will be the machines of choice, and ONLY SVG has 10 years experience in this area....multiple Micrascan generations, world class optics.. Expanding customer base, Micrascan to be shipped to WSMC spending curbs but R&D will contune- they refuse to sacrifice the future Korea still weak, transition to .25u is HERE! 300mm delays In q3 there were 13 million in order pushouts for the year 900 people or 25% of staff have been reduced... Wafer per hours among highest in industry at 90/hr optics will be built in advance of customer need anticipating hte upturn. tinsley now included in all the numbers for years past 135 million booked, positive book to bill SVG lost money for only the seconfd time in history (other being IBM deal) Again, SVG stressed they will not sacrifice the future (recurring theme) Q2 17 Micrascans shipped Q3 8 shipped Gross Margins under pressure and are at about 44% down from 39%, Volume dropped 50% and reeked havocon track and litho units R&D lower in all groups G&A was 10 million less Cash stands at a strong 160 million ($5/share) Account Recs dropped inventory flat Fixed assets (cap ex) 19 million in new assets New bank facility $150 million led by ABN-Amro, along with Comerica, Wells, Fleet and Key relationships...banks are bleiveing in them, they said Some weakness going forward 4th q will see 3 million severance charge -2 shutdowns this q...the first is going on THIS week...(CFO joked how some of us have off and others "have" to come in...poor baby) Expense curtailments Well thats about it..they cut off the analyst Q&A Later All The Dialer