ATML Outlook
The Company anticipates that in the first quarter of 2004, revenues should be sequentially up 1-5%. Additionally, R&D should be approximately $59-63 million, while SG&A should be between $38-42 million. Finally, gross margins should be down slightly during the first quarter, primarily due to the weakening dollar. Net interest expense for the quarter should be approximately $5.5 million for the first quarter. We anticipate that depreciation and amortization will be approximately $72-73 million.
For the full year of 2004, the Company anticipates being profitable on revenue growth of 23-30%. R&D spending should grow a couple of million dollars per quarter, ranging from $248-264 million for the total year. SG&A spending should trend upward by approximately one million dollars per quarter, ranging from $154-172 million for the total year. Gross margins should improve during the year as revenue increases, beginning in the second quarter. Interest expense should decrease by approximately one half million dollars per quarter, while taxes should be about $16 million for the year.
