01/15/98-Dow Jones News Service
(Copyright (c) 1998, Dow Jones & Company, Inc.)
HOUSTON (Dow Jones)--Reliability Inc. (REAL) said it will close its
DRAM testing plant in Durham, N.C., in April, citing the need to reduce
DRAM chip output.
The plant, which employs about 45 people, provides DRAM testing services
for Mitsubishi Semiconductor America Inc.
In a press release Thursday, the company said there will be no impact on
1997 revenues or earnings from the closure and that it expects 1997 earnings
to equal or exceed its forecast.
A spokesman for the company said Reliability's forecast was for net income
of $7.8 million, or $1.18 a share, on $45.8 million in revenues in fiscal
1997, in line with Harris Webb & Garrison's forecast.
The Durham facility accounted for about 10% of 1997 revenues.
Reliability shares were recently trading at 12 1/4, down 19%, on volume of
116,000 shares.
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