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Technology stocks continued to slide last week, reflecting the poor outlook that company executives painted during their quarterly conference calls. Will the June quarter mark the trough of the current market downturn? Perhaps. Analysts said the poor results will likely extend to the third quarter, though results won't be worse.
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Altera Corp.
Revenue: $215.3M, -36.8%
Net loss: $89.2M*
One-time charges in the fiscal second quarter wiped out Altera's operating profit. The San Jose chip supplier reported that while design wins for new technology continued to build, sales of existing products continued to wither. -Crista Souza
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Amkor Technology Inc.
Revenue: $350.2M, -36%
Net loss: $116.3M*
Amkor's assembly and test revenue fell 33%, to $311 million from $463 million a year ago, and dropped 29% sequentially. Second- quarter wafer fab revenue was $39 million, down from $84 million in the year-ago quarter and $41 million in the first quarter.
The Chandler, Ariz., supplier of microelectronic assembly and test services saw its second-quarter assembly unit shipments decline 36% from the year-ago period and average selling prices drop 5% from the previous quarter. The company's overall assembly capacity utilization was 45%, compared with 73% in the second quarter of 2000 and 57% in the first quarter of this year.
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Anadigics Inc.
Revenue: $18.9M, -60.2%
Net loss: $55.4M*
Anadigics, Warren, N.J., expects a third-quarter loss due in part to continued softness in the broadband market.
"It obviously has been a difficult year for the communications industry," said Bami Bastani, president and chief executive of Anadigics. "We were able to deliver revenue results that were slightly better than expectations. However, the current low- production-volume environment and the ramp of our HBT module assembly process have certainly put pressure on our gross margin.-Robin Lamb
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Fairchild Semiconductor International Inc.
Revenue: $354.5M, -13.5%
Net loss: $8M*
Fairchild, South Portland, Maine, is expecting third-quarter sales to decline between 15% and 20% from the second quarter and is bolstering steps to lower operating costs.
"We plan to continue to cut spending, and expect third-quarter R&D and SG&A...