Electroglas Expects Fourth Quarter Results to Fall Below Wall Street Estimates.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Dec. 18, 1998--Electroglas, Inc. (Nasdaq:EGLS EGLS Eastside German Language School (Issaquah, WA) ), a leading supplier of essential process management tools for the semiconductor industry, announced today that due to the continuing severe downturn in the worldwide semiconductor capital equipment industry, it expects financial results for the fourth quarter 1998 will be below Wall Street analysts' estimates. Revenues are anticipated to be in the $14-15 million range, below the $44.1 million recorded a year ago and below the $22.5 million recorded in the immediate prior quarter. The Company also expects that as a result of the lower than expected revenues, its net loss per share for the quarter will be greater than the current First Call consensus estimates of $.27 per share. In addition, the Company expects to take a one-time charge in the range of $9 to $10 million for impaired technology and intangibles relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc previous acquisitions. 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. Certain statements in this press release are forward-looking statements, including statements regarding Electroglas' plan, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding financial results, revenues, losses and the one-time charge for impaired technology for the fourth quarter of 1998. Electroglas assumes no obligation to update any forward-looking statement. Electroglas' actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as continued or increased softness in demand for semiconductor equipment, particularly softness related to weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. economic conditions in Asia, unexpected
cancellations or delay in customer orders. Readers should also refer to
the risk disclosures outlined in Electroglas' Form 10-Qs Form 10-QSee 10-Q. filed from time-to-time and the 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. filed for Electroglas' fiscal year ended December 31, 1997. |
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