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Schaeffer's Street Stories: KLA-Tencor Corp. Slashes Earnings Outlook

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^{Published in Science and Technology on Tuesday, January 13th 2009 at 9:40 GMT, Last Modified on 2009-01-13 09:41:11 by Market Wire}  

CINCINNATI--([ BUSINESS WIRE ])--Before the open this morning, KLA-Tencor (NASDAQ: KLAC) revised its fiscal second-quarter revenue outlook, saying the economic downturn, the financial credit crunch, and weak consumer demand "have led our customers to scale back production operations and reduce capital expenditures."

The chip equipment maker stated that it now expects revenue in the range of $390 million to $400 million. This new estimate is below its previous guidance, and the company expects to record an impairment charge as a result of further deterioration in the semiconductor industry. In December, the supplier of process-control and yield-management products said it expected revenue of $410 million to $430 million. The company also expects to report new bookings of $235 million to $245 million for the quarter ended Dec. 31.

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