biz.yahoo.com
Wednesday May 13, 4:16 pm Eastern Time
Company Press Release
Daw Technologies Inc. Announces 1998 First Quarter Results
SALT LAKE CITY--(BUSINESS WIRE)--May 13, 1998--Daw Technologies Inc. (NASDAQ:DAWK - news),
Wednesday reported a net loss of approximately $831,000, or $0.07 per share, on sales of approximately $11.4 million for
the quarter ended March 3l, 1998.
Revenues increased by 46 percent from the quarter ended Dec. 31, 1997 but decreased by 32 percent from the quarter
ended March 31, 1997.
Revenues for the first quarter of 1997 were approximately $16.8 million, which resulted in net earnings of approximately
$182,000, or $0.01 per share. In the fourth quarter of 1997 Daw reported revenues of approximately $7.8 million, which
resulted in a loss of approximately $2.5 million, or $0.20 per share.
''Although the semiconductor industry downturn continues to effect our operations, the first quarter of 1998 showed signs that
a recovery is near,'' Ronald W. Daw, president and chief executive officer.
''We saw an increase in the bidding process during the first quarter of 1998. Many of the projects we proposed on were for
air handling systems. We believe that this activity is the first sign that the semiconductor manufacturers are increasing their
spending on new or expanded manufacturing facilities.
''While we cannot know the exact timing of a recovery, we believe that by the end of 1998 there will be a significant increase
in semiconductor and micro-electronic facility construction and this increase will be reflected in our results of operations.''
The information discussed in the previous paragraphs contain forward looking statements that are subject to risks and
uncertainties that could result in actual results differing materially from those projected. These risks and uncertainties could
include, but are not limited to, the climate of the semiconductor industry, the timing of significant customer orders, product
pricing pressures and challenges from competitors.
Daw Technologies Inc. provides ultraclean manufacturing environments, or cleanrooms, for customers throughout the world
and specializes in the design, manufacturing and installation of cleanrooms meeting stringent semiconductor manufacturing
requirements. |
