Cerprobe Anticipates That Fourth Quarter Results Will Fall Below Wall Street Estimates.GILBERT, Ariz.--(BUSINESS WIRE)--Dec. 10, 1998--Cerprobe Corp. (Nasdaq:CRPB CRPB Conflict Resolution and Peace Building ) Thursday Thursday: see week. announced that it expects financial results for the company's fourth fiscal quarter, ending Dec. 31, 1998, will be below current Wall Street analysts' estimates. The company expects to report a net loss per share from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the ranging from $0.06 to $0.03 on net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight ranging from $14 million to $15 million. Cerprobe is scheduled to report its operating results for the quarter and full year ending Dec. 31, 1998 on Wednesday, Feb. 3, 1999. Cerprobe attributed the sales shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. for the fourth quarter to continuing softness in the worldwide demand for semiconductors as well as customer-requested acceleration of shipments into the prior quarter ended Sept. 30, 1998 that were originally scheduled for shipment in the current quarter. C. Zane Close, president and chief executive officer of Cerprobe, commented: "Though industry conditions seemed to have stabilized sta·bi·lize v. sta·bi·lized, sta·bi·liz·ing, sta·bi·liz·es v.tr. 1. To make stable or steadfast. 2. for a few of our customers, many continue to experience the impact of a severe semiconductor capacity correction. This situation is further exacerbated by scheduled shutdowns by some of our customers and the significantly reduced production expected during the upcoming holiday season. "We continue to invest substantial resources in our new product development programs, while implementing further cost reductions in other areas of the company in response to current market conditions. We do not believe the current quarter sets any trend for 1999, and we expect that demand for Cerprobe's products and services as well as our profitability will strengthen throughout 1999," added Close. Cerprobe offers comprehensive solutions for semiconductor test integration and is a world leader in the design and manufacture of probe cards A probe card is an interface between an electronic test system and a semiconductor wafer. Its purpose is to provide an electrical path between the test system and the circuits on the wafer, thereby permitting the testing and validation of the circuits at the wafer level, usually , ATE interface assemblies, and ATE test boards. The company markets its products worldwide to semiconductor manufacturers. Cerprobe operates domestic manufacturing facilities in Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , and Texas. The company also operates international subsidiaries: Cerprobe Europe, Limited in Scotland, SemiConducteur Services S.A. in France, and Cerprobe Asia in Singapore and Taiwan. Additional information about Cerprobe is available at www.cerprobe.com. The statements in this release regarding the company's financial performance in the fourth quarter of 1998, the softness in the semiconductor market, lower production rates by many of the company's customers, and management's expectations of strengthening demand for the company's products and services throughout 1999 are forward looking statements that include risks and uncertainties, including but not limited to product demand and development, ability to maintain customer diversity and relationships, technological advancements, impact of competitive products and pricing, growth in targeted markets, manufacturing capacity, risks of foreign operations, ability to integrate and leverage acquisitions, and other information detailed from time to time in the company's financial news releases and Securities and Exchange Commission filings. |
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