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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: Hippieslayer who wrote (9246)	7/22/1998 7:26:00 PM
From: 5,17,37,5,101,...	Read Replies (1) \| Respond to of 11555

Ordinarily I'd be peeing all over myself, holding on to as many shares as I have. But...I think Fugazi is wrong. Though he's right about the disaster in these earnings, and I think the stock will drop, I don't believe $5.00 is the answer. We'll probably hit $6.5 or so and stay there for a week or so then continue trading at $7+. Meanwhile I smell a margin call...and I may just say goodbye soon. When I do say goodbye, expect a buyout within the next month or so. Good trading, still long...crap Jackson

To: Hippieslayer who wrote (9246)	7/22/1998 10:55:00 PM
From: flickerful	Respond to of 11555

not pretty... A service of Semiconductor Business News, CMP Media Inc. Story posted 8:30 p.m. EDT/5:30 p.m. PDT, 7/22/98 IDT to close San Jose fab after reporting $50 million loss By Will Wade SANTA CLARA, Calif.--Integrated Device Technology Inc. here today reported a $50 million lost for its fiscal first quarter, ended June 28, and it announced a restructuring drive that includes closing its Silicon Valley wafer fab. IDT said it hopes to generate annual savings of up to $45 million, but will take a charge this quarter of up to $60 million associated with these changes. The company's revenues for the quarter were $134.5 million, down 9.7% from the same period last year, and down 10.5% from the preceding quarter. The net loss translated to $0.23 per share, while the company earned $0.02 per share in both the previous quarter and last year's first fiscal quarter. "Like many of the companies in our industry, our first quarter operating performance was disappointing," said Len Perham, president and CEO of IDT. "The global slowdown in the semiconductor industry, the continuing economic crisis in Asia, and continued oversupply conditions, have created a very difficult market environment. The proliferation of Far Eastern foundries, coupled with the 'hidden capacity' increases associated with the rapid move from 0.6- to 0.5- to 0.2-micron manufacturing processes, has resulted in capacity increases far in excess of what the industry can absorb." IDT's product mix has not helped the situation, as its microprocessor devices have not been ramped sufficiently to offset losses from its SRAM devices, which are suffering from steep price competition. The loss also includes a one-time charge of $34.6 million related to excess SRAM manufacturing equipment and technology licensing issues. As part of its restructuring, IDT will close down its San Jose fab and replace its volume by ramping production at sites in Salinas, Calif., and Hillsboro, Ore. That move is expected to be complete by the end of the year. Company-wide, some 400 jobs will be cut over the same period, most resulting from closing the fab. In addition, all company operations, including manufacturing and product lines, are going to be consolidated in order to more-efficiently allocate resources. "The company must adjust its production capability and operating costs to the reality of the markets we serve, in light of industry-wide business conditions," Perham said.

To: Hippieslayer who wrote (9246)	7/22/1998 11:37:00 PM
From: Medisco	Read Replies (1) \| Respond to of 11555

FRESH FROM THE OVEN OF YAHOO Jul 22 1998 11:31PM EDT An insider and close to the daily activities at IDTI, just bought over 400,000 shares less than a month ago and paid between $6.75 and $7.625 per share. Mr. Berg should know a month ago that IDTI are going to miss earnings by a wide margin, the question is why he did not wait to pick up his shares at lower prices?! Naturally, he must know something attractive enough to buy and not wait. Could it be an aquisition underway, waiting for IDTI to restructure itself, triming its fat and making itself more attractive. This is the only ratinal explaination I have. I welcome your opinion.