Cymer Sees Continuing Downturn
The outlook for the semiconductor industry remains grim, based on financial results reported yesterday by San Diego’s Cymer (NASDAQ: CYMI), which supplies 65 percent of the specialized laser equipment used worldwide to make integrated circuits. Cymer says it expects revenue to decline between 40 percent and 50 percent in its first-quarter from the fourth-quarter, which showed a 28 percent drop in sales compared to the previous year. During a conference call, CEO Robert Akins says chip makers have cut back on orders across the board. Akins says logic-chip makers constitute the most active segment, while orders from memory-chipmakers showed the steepest decline.