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Micro Component Technology Warns of Lower 4Q Earnings

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Micro Component Technology


said Friday it expects that the slump in demand for semiconductors will cause fourth-quarter earnings to come in below expectations.

The St. Paul, Minn-based maker of handling and testing equipment for the semiconductor industry said it expects to lose between 1 cent and 5 cents a share for the fourth quarter on revenue of $13 million to $14 million. Analysts polled by

First Call/Thomson Financial

were expecting the company to earn 10 cents a share on revenue of $17 million. The company will release actual results February 2001.

"As has been the case with a number of other companies in the semiconductor industry, we have experienced a decrease in our order rate during the quarter," noted Roger E. Gower, the company's chairman and CEO.

Shares of Micro Component Technology were recently trading down 88 cents, or 23%, to $2.94 in