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

To: Ian@SI who wrote (16705)	1/28/1999 8:27:00 PM
From: Moonray	Read Replies (1) \| Respond to of 25814

More: LSI Has 4th-Qtr Profit on 38% Increase in Revenue Milpitas, California, Jan. 28 (Bloomberg) -- LSI Logic Corp., a maker of specialty semiconductors, posted a fourth-quarter profit, beating estimates, as expanding Internet usage boosted sales of its products used by telecommunications and networking companies. Profit before a gain and a writedown fell 92 percent, to $7.8 million, or 5 cents a share, from profit before an accounting change of $32.2 million, or 23 cents, in the year-ago quarter. LSI, which also makes chips for Sony Corp.'s PlayStation video-game system. was expected to lose 3 cents a share, the average estimate of analysts surveyed by First Call Corp. Milpitas, California-based LSI and other chipmakers struggled for most of last year with a worldwide slowdown in demand, as over-capacity and falling prices cut into profits. LSI in October said it would cut about 1,200 workers and close plants to become profitable. Fourth-quarter revenue rose 38 percent to $445.4 million from $323 million. ''They have cut their workforce and restructured and were helped by demand in computers and telecommunication growth,'' said Hans Mosesmann, a Prudential Securities Inc. analyst, who boosted his LSI rating Monday to ''strong buy'' from ''hold.'' After a $12.5 million gain on the sale of an investment and a $7.2 million write down of goodwill in connection with acquiring Symbios Inc., the company had fourth-quarter net income of $13.1 million, or 9 cents a share. Its year-earlier net was $30.7 million, or 22 cents, including a $1.44 million loss from a change in accounting principle. ''Clearly, their future is getting better,'' said Mark Edelstone, a Morgan Stanley Dean Witter analyst who rates LSI a ''market outperform.'' LSI rose 1 1/2 to 24 3/4. Earnings were released after the close of U.S. markets. Its shares have gained about 54 percent this month. Ian, THAT was the BEST sell you never made! o~~~ O

To: Ian@SI who wrote (16705)	1/28/1999 11:02:00 PM
From: john dodson	Respond to of 25814

Re: $31 tommorrow? Wow. How expectations change. It's beginning to look like a vicious cycle with LSI. First everyone way overestimates LSI's stock performance (Jock's infamous LSI prediction where the lowball won handily), then LSI was doomed for the foreseeable future with nearly everyone conceding a continuing slump in the share price. So, are we now getting a bit too optimistic too quickly? I'm not even sure LSI will finish up more than a buck or two tomorrow. Hopefully the longer term direction will continue to be up, but $31 tomorrow? THAT would blow me away. Maybe $26 or $27 or a little more, but will she close that high? I sure hope so, but hmmm.... -John