Markets & Finance

Prudential Cuts Rudolph Technology Outlook

Prudential cut estimates on Rudolph Technology (RTEC).

Analyst Shekar Pramanick says the company lowered Q3 guidance below his estimate, but guided revenues up sequentially to the $20 million level. He notes that due to a small revenue base and increasingly higher ASPs, he thinks pushouts from Charter Communications and Infineon WhiteOak contributed to the majority of lowered Q3 guidance. However, he notes these pushouts have been public knowledge for several weeks now.

Pramanick cut his $0.26 Q3 EPS estimate to $0.03, and cut the $1.18 2001 to $0.79, and slashed the $2.00 2002 estimate to $1.48. He maintains his buy rating.

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