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To: FJB who wrote (2047)	4/6/1999 9:14:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 2946

Bob, The parts of the story that you didn't quote seem to be more informative than those that you did. There's seems to be no doubt that the INTC orders are being worked; that a few days delay in shipping has moved the machines from end of March to April thus causing the 1st quarter to be missed. At $6M plus per scanner, it doesn't take many delays to make a significant change in earnings. All the same, ETEC got absolutely hammered for about the same kind of announcement (each of the last 3 times it did it). SVGI has already been hammered below book value; ETEC was, and is, still trading at a multiple of book value. Nice to see that an end to this sales disaster is imminent. Ian. The Company also reported that based upon the orders received for its lithography products, bookings for the March ended quarter were at the highest rate in over one year, which should result in an aggregate book-to-bill ratio in excess of 2 to 1. Given the backlog for its lithography products, the Company believes that revenue in the third and fourth quarters of this fiscal year has the potential to be significantly higher than that of the first half of the fiscal year. "The Company is very disappointed with the low level of revenue for the March quarter. Although at quarter's end, the Company had completed lithography machines which will ship in April 1999 and last quarter's lithography production delays are essentially behind us, these factors have created revenue issues for the quarter," said Papken Der Torossian, Chairman and CEO. "However, we are very pleased with the second quarter's strong order rate of our lithography products."