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To: getgo234 who wrote (14012)7/30/1998 11:03:00 PM
From: john dodson  Read Replies (1) | Respond to of 25814
 
Lehman's 7/23/98 Report on LSI.

Keep in mind this was the day before LSI reported earns. Lehman ages these things for a week before making them available. It'll be interesting to see what they say after digesting the Symbios deal:

lehman.com

Some interesting highlights:

o 12-Month price target (still) $32

o On the Symbios Deal
-Complements LSI's thrust into storage market (now 5-10% of sales)
-Little product overlap & a different customer base, including Iomega
-Symbios' gross margins "modestly" below LSI's

o Remain cautious due to near term industry conditions AND LSI's
slightly reduced gross margins.

o Earnings estimates of (not counting Symbios deal):
$1.05 - 1998
$1.65 - 1999

-John Dodson



To: getgo234 who wrote (14012)7/31/1998 12:24:00 AM
From: akmike  Respond to of 25814
 
Sony's share of LSI's revenue and Playstation business were discussed at length during the cc. IMO Wilf's message was to the hedge funds and tag-along short sellers that LSI is not a one-dimensional enterprise. LSI will be a factor in Playstation II;the question is at what level of volume and margin.


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