Electroglas Announces Preliminary Third Quarter Results.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Oct. 6, 2000 Electroglas, Inc. (Nasdaq:EGLS EGLS Eastside German Language School (Issaquah, WA) ) today announced preliminary results for the third fiscal quarter ended September 30, 2000. Revenue is estimated to be approximately $58 million, about 40% greater than the third quarter of 1999, and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of are estimated to range from $.49 to $.52 compared to $.18 reported in the third quarter of 1999. This estimate is below consensus estimates of $.58 per diluted share for the third quarter. Commented Curt Wozniak, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Electroglas, "Within the quarter, our prober manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. experienced materials shortages from some vendors that did not get corrected in time to meet scheduled customer shipments. The rapid growth of shipments during this expansion cycle has stretched our vendor base. We have instituted plans to address the capability of our vendor base in the coming quarter. In addition, our Inspection Products business missed expected shipments due to customer order timing and manufacturing lead-time associated with our new inspection products. While these events caused an interruption in our improving revenue and earnings stream, our order rate for the third quarter should meet or exceed the $61 million recorded in the second quarter." Electroglas' third quarter financial results will be released on Thursday, October 19, at 6:00 a.m. PT/9:00 a.m. ET. Information on the conference call, webcast and replay are available on the Electroglas web site, www.electroglas.com. Legal Notice Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains forward-looking statements including statements about estimated third quarter financial results and plans to address materials availability, vendor capability and order rates. The forward-looking statements involve risks and uncertainties including, but not limited to, final accounting review of third quarter operating results, and our vendors being unable to respond timely to our increased demands on them. Electroglas assumes no obligation to update this information. Readers should also refer to risk disclosures in Electroglas' SEC filings, including its most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999 and its quarterly reports on Form 10-Q Form 10-Q See 10-Q. filed for the quarters ended March 31 and June 30, 2000. About Electroglas: Electroglas delivers essential tools for process management designed to enhance semiconductor companies' profitability. The Company's wafer probers The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , inspection systems and software solutions serve as data collection, management and analysis tools that semiconductor manufacturers depend on to improve their productivity and process control by optimizing sort-floor efficiency. Electroglas has been a leading supplier of wafer probers for over 35 years and has an installed base of more than 10,000 systems. The Company's stock trades on the Nasdaq National Market under the symbol EGLS. The Company's World Wide Web site is located at http://www.electroglas.com. |
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