To: Gottfried who wrote (29400 ) 4/6/1999 5:06:00 PM From: Proud_Infidel Read Replies (1) | Respond to of 70976
SVGI warns: Tuesday April 6, 8:57 am Eastern Time Silicon Valley Group says Q2 revs fell SAN JOSE, Calif., April 6 (Reuters) - Silicon Valley Group, Inc. (Nasdaq:SVGI - news) said on Tuesday that it expects to report that revenues for the second quarter ended March 31 fell about 30 percent from the $85.5 million in revenues recorded in the first quarter due to shortfalls with its lithography products. The maker of semiconductor equipment attributed the sequential drop in quarterly revenues to lower than expected sales of its lithography products caused by the timing of customer requirements and a minor production delay of its latest laser-based lithography product. ''The company is very disappointed with the low level of revenue for the March quarter,'' Papken Der Torossian, chairman and CEO, said in a release. ''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,'' he said. Looking ahead to the second half of 1999, the company said that based upon the orders received for its lithography products, bookings for the second quarter were at the highest rate in over one year, which should result in an aggregate book-to-bill ratio in excess of two-to-one. ''Given the backlog for its lithography products, 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 said in a release. ''We are very pleased with the second quarter's strong order rate of our lithography products,'' Torossian added. Silicon Valley Group said it expects to report results for the quarter before the market opens on April 21.biz.yahoo.com