Mattson Technology (MTSN)

[Kev2128]

MATTSON TECHNOLOGY (MTSN) CUTS Q2 OUTLOOK. NEEDHAM DOWNGRADES TO HOLD FROM BUY.

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SNPMarketScopeViewsNews2012-07-10 12:43:10.000MTSNMATTSON TECHNOLOGY INC.BRIAN EGLIMATTSON TECHNOLOGY (MTSN) CUTS Q2 OUTLOOK. NEEDHAM DOWNGRADES TO HOLD FROM BUYAnalyst Y. Edwin Mok tells salesforce downgrading MTSN on negative Q2 preannouncement, significantly weaker outlook for Q3, beyond. While previously believed new rapid thermal processing, etch wins at multiple foundries would drive cont. rev. growth, says it now appears pace of these product ramps may be too slow to offset industry softness. Despite accelerated cost-cutting efforts, now sees MTSN remaining unprofitable until Q3 '13 due to weak rev. growth. Cuts $202M '12 rev./$0.07 non-GAAP EPS ests to $133M/$0.28 loss; $225M/$0.30 EPS '13 to $138M/$0.18 loss. B.Egli|US;MTSN|2679|US|206926