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

To: JERRY who wrote (16712)	1/28/1999 9:46:00 PM
From: FNS	Respond to of 25814

Jerry: Check this out: "Earnings per share before the special item and after the good will was nil cents per share." 1/28 17:34 LSI Logic Q4 slightly better than expected MILPITAS, Calif., Jan 28 (Reuters) - Chip maker LSI Logic Corp. Thursday reported four quarter earnings that were slightly better than Wall Street had expected, and a 38 percent jump in revenues, saying it is positioned for an industry turnaround. In the fourth quarter, LSI had net income of $13 million, or 9 cents a share, including a one time special gain of $17 million associated with the sale of its investment in Ambit Design Systems, and a $10 million in goodwill amortization, compared to net income of $30.7 million, or 22 cents a share. Excluding the special item and goodwill, LSI said its net income was $8 million, or 5 cents a share diluted. Earnings per share before the special item and after the good will was nil cents per share. According to First Call, which tracks analysts estimates, the consensus on Wall Street was for a loss of 3 cents a share. LSI's revenues jumped to $445 million in the fourth quarter, an increase of 38 percent over the $323 million in revenues in the year-ago period. "LSI Logic emerged from 1998 with considerable momentum and with the growing belief that the long-awaited recovery of the semiconductor industry is about to begin," said LSI Chairman Wilfred Corrigan, in a statement. "We are well positioned for an industry upturn." The company said that its consumer products division performed better than expected in the fourth quarter, particularly in the area of providing chips for video games and DVD (digital versatile disk) applications. LSI's computer, telecommunications-wireless, networking, and storage components businesses all had bookings increases on a sequential basis, LSI said.