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Technology Stocks : Credence (CMOS): Anyone out there -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (375)	5/20/1999 12:40:00 AM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 497

Just as I finished posting the last note, I came across the following news release: SAN FRANCISCO, May 19 /PRNewswire/ --The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens managing director and senior semiconductor equipment analyst Sue Billat today upgraded Credence Systems, Inc. (Nasdaq: CMOS), to a Buy rating from a Long-Term Attractive after the company reported second quarter fiscal 1999 results ahead of expectations. Credence Systems designs, manufactures, sells and services automatic test equipment (ATE) used in the production of semiconductors. "We are raising our rating on Credence to a Buy from Long-Term Attractive. The company reported an operating loss of ($0.11) per share for second quarter fiscal 1999, ahead of expectations, and an impressive book-to-bill of 1.5-to-1," said Billat. "Given Credence's bookings surge and improving visibility, we are raising our earnings per share estimates from ($0.35) to $0.26 for fiscal 1999 and from $1.25 to $1.50 for fiscal 2000. "Credence is leveraging the overall recovery of the semiconductor industry and is benefiting from contract test houses' operation at full capacity," said Billat. "Significantly, the company has won three of the top 10 chipmakers as new customers."