Daw Technologies, Inc. Announces 2000 Second
Quarter Results
SALT LAKE CITY, Aug. 8 /PRNewswire/ -- Daw Technologies, Inc. (Nasdaq: DAWK - news), reported today net earnings
of approximately $536,000, or $0.04 per share on sales of approximately $15.0 million for the quarter ended June 30, 2000.
This compared to a net loss of approximately $1.4 million or $0.12 loss per share on sales of approximately $10.0 million for
the quarter ended June 30, 1999. The Company also reported net earnings of approximately $502,000, or $0.04 per share on
sales of approximately $29.7 million for the six months ended June 30, 2000. This compared to a net loss of approximately
$1.8 million or $0.14 loss per share on sales of approximately $22.5 million for the six months ended June 30, 1999.
``We are extremely pleased at the progress we have made during the first six months of this year compared to the last three
years. Revenues have increased, gross profit margins have improved, and operating expenses have decreased as we have
taken measures to improve shareholder value. After a three-year downturn, we now see strength in the semiconductor industry
recovery and are benefiting from it. While the North America semiconductor industry continues to focus primarily on facility
upgrades and expansions, we are seeing strong growth in new fab construction and expansion of existing fabs in the European
region. We believe that the Company will experience increased growth in the next few years from the European region, where
the Company has established itself as one of the dominant cleanroom-systems companies,'' stated Ronald W. Daw, President
and Chief Executive Officer.
Mr. Daw went on to say, ``In September of 1999 the Company announced its plans to pursue a foundry strategy for the
manufacture of its cleanroom components. While we have begun outsourcing many of our previously manufactured cleanroom
components, we have seen strong demand and a significant increase in orders for our floor and wall systems. We continue to
evaluate our strategy moving forward for the manufacture of these products. The Company is also currently developing a
strategy to re-enter the Asia Pacific market in January 2001, which represents a significant potential market for the Company's
products and services.''
``The Company also continues to evaluate and explore opportunities for manufacturing high precision sheet-metal components
on a contract basis. We believe there is significant opportunity for revenue and profit growth in this market through our
Advanced Manufacturing business unit. In addition, the Company expects to see growth with its Air Entrance System that is
marketed to large national retailers. Intelligent Enclosures, our cleanroom mini-environment division, continues to expand its
customer base, securing additional new customers during the last quarter. We believe that the diversification efforts and
initiatives the Company has undertaken will continue to help improve the overall operations and profitability of the Company,''
commented Mr. Daw.
Daw Technologies, Inc. provides ultra-clean manufacturing environments for customers throughout the world and specializes in
the design, engineering, and installation of cleanroom systems that meet stringent semiconductor manufacturing requirements.
The Company also provides contract-manufacturing services on an OEM basis for various customers. This includes but is not
limited to metal fabrication and assembly of a various range of products such as air-entrance systems used in high-volume
commercial retail establishments, and the application of powder epoxy paint for a variety of products. For more information,
visit Daw on the Internet at www.dawtech.com.
This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may
differ materially from those discussed or anticipated. Factors that might affect the actual outcome include, but are not limited to,
the cyclicality of the semiconductor industry, decreases in capital spending by semiconductor manufacturers, cancellation or
delays in existing contracts, increased competition in the cleanroom segment of the industry, customer acceptance of new
products, a decline in demand for semiconductors, and the effects of the Company's existing and proposed diversification
efforts. For a more detail discussion of these and associated risks, see the Company's most recent documents filed with the
Securities and Exchange Commission. |
