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Technology Stocks : Mattson Technology -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (948)	11/14/1998 6:33:00 PM
From: Q.	Read Replies (1) \| Respond to of 3661

Ian: Below is the March 98 announcement about the stock buyback. Note that it is very limited: only for the purpose of offsetting the shares issued in the options plan. This probably doesn't allow the co. to just buy a lot of shares because the look cheap. I suppose this restriction accounts for what Brad Mattson told John Stewart (in an email response to John's inquiry) that the board hasn't given an okay for buying back a lot of shares. FREMONT, Calif.--(BUSINESS WIRE)--March 16, 1998--Mattson Technology, Inc. (NASDAQ:MTSN) today reported that it currently expects that its results for its First and Second fiscal quarters ending March 29, and June 28, 1998, respectively, will be below current published analysts' forecasts. The Company currently expects that its revenues for the First Quarter 1998 will be in the range of $20 to $23 million, with a loss in the range of $.08 to $.12 per share. These results would be marginally below current analysts' published forecasts. For the Second Quarter of 1998, the Company currently expects that its revenues will be significantly lower than its current forecast for the first quarter. As a result, the Company currently expects to report a significantly higher net loss. These are preliminary estimates based upon currently available information and are subject to change. The Company attributed its revenue shortfall primarily to further "pushouts" and cancellations of orders from Asian customers. In response to the continuing impact of the "Asian Financial Crisis," the Company will immediately initiate further cost control measures. These include a reduction of full time and temporary employees equivalent to approximately 15% of its total work force. The executive staff will take a 10% pay cut and the Company will also implement tighter controls over spending. The Company is also announcing that its Board of Directors has authorized the Company to repurchase during the next three years up to 1,000,000 shares of the Company's Common Stock in the open market from time to time. As of February 27, 1998, the Company had 14,220,115 shares outstanding. The purpose of the repurchase program is to acquire shares to fund the Company's stock based employee benefit programs, including the employee stock purchase plan and the stock option plan. The information contained in this press release regarding the Company's estimated First and Second quarter results constitutes forward-looking statements. The Company's actual results might differ materially from that estimated due to a variety of factors, including customer cancellations or delays of currently booked orders, special charges associated with the Company's cost reduction efforts, and additional decisions taken by the Company in response to the continued market slowdown. Additional information about these and other factors is contained in Mattson's Annual Report on Form 10-K under the sections entitled Business -- Forward Looking Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations, and in other SEC filings including Mattson's most recent Form 10-Q. CONTACT: Mattson Technology Rich Mora, CFO, 510/492-6302 KEYWORD: CALIFORNIA