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Technology Stocks : Cymer (CYMI) NEWS ONLY! -- Ignore unavailable to you. Want to Upgrade?

To: TI2, TechInvestorToo who wrote (540)	9/11/1998 11:38:00 AM
From: GREATMOOD	Read Replies (1) \| Respond to of 582

Cymer Announces Reduction In Workforce;Expects Continued Industry Downturn To Impact Revenues SAN DIEGO, Sept. 11 /PRNewswire/ -- Cymer, Inc. (Nasdaq: CYMI), announced today that it will reduce its global workforce by approximately 12 percent, as part of the Company's restructuring plan to address a forecasted reduction in business volume due to the continued downturn in the semiconductor industry. In addition, the Company currently expects total revenues for the third quarter to be approximately 10 to 15 percent lower than revenues reported for the second quarter. However, due to ongoing cost savings measures, it is currently anticipated that earnings for the third quarter will approximate current Wall Street expectations. A total of 98 positions will be eliminated, the majority of which will be at the company's San Diego headquarters, resulting in a worldwide headcount of 713. Employees are being notified today. Additionally, senior executives' salaries will be reduced by 10 percent. "We are currently in a highly volatile, rapidly changing market environment that continues to be affected by capacity issues in the semiconductor industry as well as the economic situations in Japan, Asia and the rest of the world," said Robert Akins, president and chief executive officer of Cymer. "Over the past several months, we have instituted a number of cost-reduction programs. However, in response to the prolonged downturn in the industry, it has become necessary to restructure for an even lower business volume in the near term. Our goal with this restructuring is to reduce our overhead structure and improve our efficiencies, while continuing to make sound investments in the resources that can provide for the long-term competitiveness and growth of Cymer." This press release contains forward-looking statements regarding the company's anticipated third quarter revenues and earnings that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, unexpected cancellations of orders expected to be shipped during the third quarter, the inability to achieve planned cost reductions in the quarter and a reduction in earnings due to fluctuations in the value of the Japanese yen. The company assumes no obligation to update the information in this press release. Cymer, Inc. is the world's leading supplier of excimer laser illumination sources, the essential light source for deep ultraviolet (DUV) photolithography systems. DUV lithography is a key enabling technology which has allowed the semiconductor industry to meet the exact specifications and manufacturing requirements for volume production of today's advanced semiconductor chips. Further information on Cymer may be obtained from the Company's SEC filings, the Internet at cymer.com or by contacting the Company directly. SOURCE Cymer, Inc. CO: Cymer, Inc. ST: California IN: CPR SU: PER 09/11/98 11:21 EDT prnewswire.com

To: TI2, TechInvestorToo who wrote (540)	10/1/1998 11:00:00 AM
From: TI2, TechInvestorToo	Read Replies (1) \| Respond to of 582

BRIEF.COm on Coherent----> Coherent Inc. (COHR) 9 1/4 -3/32: Preferred Capital Markets maintains "buy" rating and 12-18 month price target of $20 a share on designer and supplier of electro-optical systems and medical instruments as outlook remains unchanged despite weakness in two of its competitors; when the semiconductor industry eventually rebounds, up to 1000 excimer lasers could be shipped annually, with average selling prices of around $500,000; believes that the worst is over for Coherent and company on path to earnings growth....