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Show rPwPMryry w w ryryfyfy f1' m w m w THE PARK RECORD www.parkrecord.com WEDNESDAY, JANUARY 26,2000 .Bosiiiess, A-15, BUSINESS EDITOR: Bruce Lewis 649-90 14 ext 113 Chip Shots by Cruco Lwte OF THE RECORD STAFF Another competitor emerges for Intel Backed by such industry heavyweights as Microsoft Corp. co-founder Paul Allen, investment wizard George Soros and major venture capital firms, Transmeta Corp. last week took the wraps off its mucb-anticipated family of new microprocessors. micro-processors. I, for one, am amazed Not so much that there is a new chip out there - they seem to come along every six months or so. No, what amazed me was the secrecy with which the four-and -a -half-year-old startup that employs Linux creator Linus Torvalds was able to cloak around the chip architecture and operating schematics. schemat-ics. Usually, Silicon Valley designs are well-known and worded around long before production begins, and the betting is more along the Knes of "Win they debut on time?" than "What is it?" The Santa Clara, Calif., company unveiled Crusoe, a two-member family of what Transmeta calk the firs! software-based, software-based, low-power smart microprocessors designed for mobile Internet computing. Transmeta! initial chips are the4 400MHz TM3120 and 700MHz TM5400, both of which use so-called code morphing technology to translate x86 instructions into the chip's very long instruction words (or VUW) to run the thousands of applications appli-cations already written for PCs based on Intel Corp. processors. The TM3120 has 108KB of cache, is manufactured on -22 micron and consumes con-sumes 1 watt of power, while the TM5400 has a 400KB cache, is manufactured on .IS micron and aam wet 1 watt of power. Both piodiictsiisesyiichrooousoNTtaiiucRAM. Toe TM3120sels for $89, and the TMS400 priced at $129. TamLSi km bees wf to Enough tech-speak. The company a targeting the TM5400 at kghtwetght notebook PCs, while the TM3120 targets informatioo appliances. The fanner runs windows and the Utter runs a mobile version of Linux developed at Transmeta. Transmeta said at their debut press conference that they have customers with product in hand, but deferred to those customers cus-tomers to announce their presence. According to the company, we will first tee information appliances, then note books, wiul the 5400 by nud-year. Transmeta said it is not pursuing the ceD phone and Falm-type de vice markets. The company has been samphng the chips since last year and is now in full production. pro-duction. Crusoe is being manufactured by IBM in Sivbngtos. Vt. The chips utilize LongRun tecaootogy. a power management technology developed devel-oped by Transmeta that is similar to the SpeedStep technology announced by Intel on Tuesday. LongRun enables the processor proces-sor to fluctuate its dock speed depending on the needs of the application. The resuh longer battery oe. ' floret? And that's one c the tanks that makes Transmeta's announcement meaningful to the average consumer. -..-- ---,: lake a took at Intel s behavior over the past few years. Without littering the dread- Ptoaso M ttl A-16j A ' The Possibility just Became More affordable Infrochicing Scltct from Umtal of 39 sorings. Getting into a Linda! Ctdar Home has nmt brrn tiiicr or morr affordable, Espteialiy with our SrWct linr of custom homr.Traiitioiul or conrnnporaiy-fjrwrr you choose for )xab nrw home a now avaibNr from LindaL And, youll grt the quality and smkt yoa eiptct from Lindal-but for 30 Its, For more information, call us today. tala Coatem I 2876 South Davis Drive. SLC. UT CCO-IX0-C2CO .Curtomhomw3m com Outlying areas sea mixed 1SS9 in Average Sales Price by Area Single Family Homes $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 H $0 Karres- Midway Oakley The average price of a single-family home Kamas, Oakley, Midway see home prices increase by Bruce Lewis OF THE RECORD STAFF Second in a t o-part series The number of single-family homes sold in areas surrounding Park City and American Skiing issues results warning Analysts downgrade two by Bruce Lewis OF THE RECORD STAFF One is an isolated incident. Is two a trend? A week ago. Vail Resorts announced that the company's financial performance would be lower than Wall Street analysts' forecasts. American Skiing followed suit shortly afterwards. after-wards. American Skiing Company (NYSE; Ski ) formally announced last week that anticipated anticipat-ed financial results for the second quarter of fiscal 2000 (ending Jan. 30 will be below ' " published analysts estimates. The- pronouncement follow th -rata- yvwrawri tU..!jy- .,,,.,.,..? December"- warning'"' V RelbrfDuestff ABerican Skiing lata thai tt ejects International (NYSE- RZT) that slow New earnings before interest, income taxes. Year bookings would hurt the resort lodging lodg-ing operation's bottom line for the fiscal quarter. And the day following American Skiings announcement, investment analysts at Goldman Sachs downgraded both American Skiing and Vail Resorts from their recommended list to "market outperform." outper-form." Bear Stearns downgraded American Skiing to "neutral" from "attractive." Record-setting low snowfall and unseasonably unsea-sonably warm temperatures in the major metropolitan markets of the Northeast and in the California-Nevada Sierras "signify cantly impacted skier visitation at the company com-pany s New England and Heavenly resorts." Comparing the second fiscal quarter with the same period last year. American Skiing is anticipating a 10-percent decline in skier StOCk PGrformSnCS Data or comPanies f interest to Utah investors, January 20 -24, 2000 Name i24 120 Name 134 120 Name 124 120 Name V2 120 ALPNET 4 13 5 06 DAWTECH 69 .63 FRNKCOVEY 8 25 9 19 MERKTVEO 7 63 7.50 AMERSKI 2.75 2 44 DELTAAIR 47.00 48 88 GENVSTJ. .34 .34 MITYUTE 15 50 15 50 ALBERTSON 30.75 31 63 DtGlCOUR 1100 12 00 CENTNER 14 88 14 50 NATRSUN 8 75 919 ANESTACP 18.13 19 06 OYNATEC 119 103 WNK 4.16 381 NOVELL 33 00 36 44 KIMBERLYCLK 63.06 64 25 DYNATRON 1.19 103 INTLAUTS 1 53 153 NUSKIN 913 9 25 BAXTER 5931 61.00 EF1ELEC 1.00 1.00 IOMED 419 4.25 NUTRACEUT 400 4 06 BIWUNE NEW 153 1.31 EQUJTYOC 1.38 1 69 IOMEGACP 4.31 5 94 QUESTAR 16 31 16 31 CROWNENG .38 .38 EVANSSUT 13 00 13.13 JPREALTY 17.50 17.38 SOSSTAFF 4 88 4 88 CORDANT 33.06 33 00 FXENER 2 00 2 02 KROGER 16.31 17.38 SlMONTRK 4 84 5.25 COVOLTEC 1.50 1 09 FIRSECCP 22 50 22 81 LARDAVIS 32 50 5813 SKYWEST 30 06 3213 CYCL03PS .15 .15 FLEX SENSOR 4 00 4 00 MARKERIN .20 .20 SOWSTAiR 1&13 IS 13 This Utah stock retort is provided by Derreu. Reeves of V 1 A mutti ALindal CI Ml MOatt ? Fin rii f iibi Fet. 1CJJ.7PJ4. Chad OAvg 98 fl Avg 99 ! U Heber CoaKile- Wasatch Hoytsvle Front declined In the Coahille-Hoytsville and the SnyderviHe Basin was off slightly (except in the KamavOakley aia), but four of the five areas saw average sale prices hold steady or increase during 1999. The numbers came in a year-end compilation com-pilation of area real estate sales tabulated by the Park City Board of Realtors. Comparisons of condominium sales were not statistically significant because ski-related stocks visits company-wide, based on the negative effects of early season weather and the overall over-all softness in the travel industry during the New Year h-niday. The company announced that total revenues rev-enues for the quarter are expected to be in the range of $110 million to $125 million, compared with $109.5 million in the corresponding corre-sponding period in fiscal 19J9. Resort revenues rev-enues for the second quarter of fiscal 2000 arc expected to be in a range of $95 millkm to $105 million versus $103.2 in fiscal 1W. Real estate revenues for the second quarter of fiscal 2000 are expected to be in a range of 4lflMlboo to $20 miluoo verssoMM mtliton depreciation and amortization (EBITDA) to be in the range of 5J million to $12 million, mil-lion, compared with $143 million in the comparable period in fiscal 1999. Resort EBITDA for the second quarter of fiscal 2000 is expected to be in a range of $11 million to $15 million, compared with $16 million in the comparable period in fiscal fis-cal 19V9. Real estate EBITDA for the second quarter of fiscal 2UW is expected to be in a range of minus $2 million to minus $3 million, mil-lion, compared with a loss of $1.6 million in the comparable period in fiscal 1999. Actual results are expected to be announced in early March. ""Adverse weather conditions from coast to coast, coupled with the millennium travel malaise, led to extremely disappointing CANYONS CLINIC p- working together - disciplinary cfhic (tesigned to benefit our patients total health Donald A. Cofer, DC Chartn M. Bova, MD A. Lundstrom, DC JuEe W. SamK LMT LSartt DX Acupuncture 1777 Sun Peak DrH Ste. 140 lack Johnson (XScc Lodje 649-1542 Single Family Home Sales 70 60 50 40 30 20 " Ihrr 10 Kamas-Oakley Heber City areas, but increased elsewhere of generally low number except in the Midway area, where 22 sold in each of 1998 and 1999. That area saw average condo sales prices creep down about S20.000 The stats Following are the statistics for each Park Citv Board of Realtors area for 1999: skier visits in the second fiscal quarter, which directly affects our top- and bottom-line," bottom-line," Leslie B. Otten. chairman and chief executive officer of American Skiing Company, is quoted as saving in a eorporaJe news release about the disappointing earnings earn-ings estimates. "In the east. Boston finally broke an unprecedented 304-day snow drought on January 13th and out west, Yosemite s Tioga Pass, traditionally closed due to snow in the winter, was still pen into early January for the first time in recorded history." he said. "In terms of our real estate business, we delayed the openings of our Sundial Lodge and Grand Summit Hotel projects at The Canyons while the finishing touches are being completed," Otter contmiied. "The jSmdial Lodge betas' delivering units on Dec. y arid we anticipate a phased opening of the Grand Summit Hotel beginning in the latter half of next month. As a result, we will recognize most of the real estate revenue rev-enue and corresponding EBITDA from these projects in our third and fourth fiscal quarters as both projects come fully online." "Looking ahead, we remain optimistic about our business." Otten said. "We continue con-tinue to see strong demand for our resorts, as indicated by a 10-percent increase in season sea-son pass sales and strong reservations for the remainder of the ski season." "The high quality and exceptional detail of the real estate product e are delivering at the Canyons continues to reinforce our vision for that resort as a world-class destination. desti-nation. Moreover, with recent snowfall in the east and in the west, market demand is increasing. We remain optimistic about the remainder of the ski season." Otten said. Paulson Investment Co., Park Gty. YOUR e-BUSINESS IS MY LIFE Want to mailt your buimen an e -business? Zland com oifvrt full suite oJ affofdaWe, hosted business applications to build your website, tefl products onhnc, and streamline rour company ! operations. And only land.com gives you local e-busmess eupe to put ft al tofethei. Cal us today tor bee comukabon, or iU us at wwiMjiand.com. Vout local representative is; Got dino Vaefy ! t. CaWawad Pfcwy Suit Sail lake City. Utah Mill Wlm ot MI-tt)4M ZIATO.COM in MT J real estate D1999 1938 CoaJ-ots vs ssa r- F nxt GRAPHICS BY BRUCE LEW'S RCOD in 1999. Source: PC Board of Realtors RamasOakleyANoodlaad: Single-Family Single-Family Homes - 75 single-family homes sold, against sold during lsi. Dollar volume. $19 9 milhori. up 19 percent from $16.7 million in 19)$. Average sales price increased by 43 percent, from $185,455 to $265.42. Condominiums - two condominiums condo-miniums sold in 1))S. against none in 19N. The dollar volume was $182,000. Average sales price was $91.fti0. Single-Famrfy Single-Famrfy lots - S7 single -familv lots sold ( up 10 percent from 79 in 1 . Dollar volume: vol-ume: $16.5 million, up 227 percent from $5.0 million in I )$. Average sales price jumped 1 percent, from $M.14$ to $189,672. Jordtnelle (new geographic division for this report ): Single-Family lots - 2 single-family lots sold in 19sN; none in 1999. Dollar volume: $12".5 Average sales price was $63,750 Midway (new geographic division for Please see Outlying area. A-17 Colorado ski visits down 16.8 percent Colorado Ski Country ISA (CSCl'SA) announced last week its resorts saw a lt. 8-percent drop in visits during the New Year's hohdav period compared to the same period last vear. The industry group attributed poor snow conditions and a general unwillingness unwill-ingness to travel during the Millennium penod to the drop in visits to the association's associ-ation's 25 membei resorts through the end of December. Despite the fact that about 440.000 fewer skier and snow boarder davs were recorded at the member resorts by the end of December. CSCl'SA said resorts expect a return to normal for the remainder of the season January is showing significant increases in both sncrw and bookings. 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