CCMP- Profit Warning Pending as Stock Breaks Down-
(Jimbo, read the Q !)
10Q: Total revenue for our second fiscal quarter was $73.5 million, down 3.6% from the previous fiscal quarter, but up 18.2% compared to the same quarter in the last fiscal year. Sales volumes were up slightly from the prior quarter, but our average selling price decreased by 5.3% from the prior quarter, causing the revenue reduction. Approximately half of the average selling price decrease was due to a lower priced product mix, and approximately half was due to selective price reductions. In the second fiscal quarters of 2002 and 2003 we also experienced price reductions from the prior quarter, and we believe that, to date, pricing pressure has been particularly concentrated around a new calendar year. Net income of $9.7 million for the quarter was down by 16.2% from last quarter due to lower revenue and higher operating costs, and up 7.3% compared to the same quarter in the last fiscal year due to higher revenue but also higher operating costs
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