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Technology Stocks : Dupont Photomasks (DPMI) -- Ignore unavailable to you. Want to Upgrade?

To: DJ Clancey who wrote (135)	2/17/1998 5:25:00 AM
From: shane forbes	Read Replies (1) \| Respond to of 955

I did not bring up the 30 P/E issue. Jeffrey did. DPMI is involved in a cyclical growth industry not nec. a growth industry per se. Yet they should do well and perhaps a premium to the overall growth rate is justified. Whether it's 30 or 35 or 25 or 50 I don't know. I have not checked the financials and growth rates.

To: DJ Clancey who wrote (135)	2/22/1998 12:05:00 AM
From: Duane L. Olson	Respond to of 955

DJ..Sounds like you are on top of it... If you check a couple of my posts in the 145 through 149 series, which details the year over year quarterly Growth in Sales for DPMI, you will see some examples with the growth rate exceeding 30 percent. So I don't think you are off base grabbing 30% as a reasonable number to shoot for in coming quarters. Even the AVERAGE of the following analysts if projecting above 20% growth going forward...which has already been achieved according to INFRASTRUCTURE Magazine by the Photomask sector during the recent IC Industry downturn.. Because of the increasing complexity of chips, and the movement to ASICs over DRAM (ASICs requre more complex masking).. the growth in mask unit volume should accelerate. Moreover, the heavy hitters, like DPMI, are gaining market share as the task become more complex.. So: Growth rate 30%... I think possible in 1999 and beyond... PE for that... I think it will expand from something around 25 this year to the 30 to 40 range in 1999... Giving share valuation projections in the $65 to $120 range within 18 months.. Certainly not a bad target if prospects remain on course, as they seem to for now, don't you think? Duane