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

To: shane forbes who wrote (141)	2/21/1998 3:25:00 PM
From: Duane L. Olson	Respond to of 955

Previous Report by DPMI: Sharply Higher Sales reported by DPMI for the period ended December 1996 in it's 10Q filing with the SEC. This report should be treated as: A. Part of the previous 7 quarters of no sales growth B. A fraud on the part of DPMI Quote: DUPONT PHOTOMASKS INC Filed on Feb 5 1997 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of the financial condition and results of operations should be read in conjunction with the financial statements of the Company and the related notes thereto. Prior to the Company's initial public offering (the IPO) on June 13, 1996, it was a wholly-owned subsidiary of E.I. duPont de Nemours and Company (DuPont). The Company's historical results prior to the IPO are not necessarily indicative of the results that would have been achieved if the Company had been independent and may not be an accurate indication of future results. The pro forma income statement estimates the effects of certain events associated with the IPO as if such events had taken place on July 1, 1995. The pro forma income statement does not purport to represent what the results of operations of the Company would actually have been had certain events in fact occurred on July 1, 1995 or to project the results of operations of the Company for any future period. RESULTS OF OPERATIONS SALES Sales are comprised primarily of photomask sales to semiconductor manufacturers. Sales increased 27.8% from $50.3 million in the quarter ended December 31, 1995 to $64.3 million in the quarter ended December 31, 1996. Sales in North America, Europe and Asia increased from $30.6 million, $11.7 million, and $8.0 million in the quarter ended December 31, 1995 to $35.7 million, $14.8 million, and $13.8 million in the quarter ended December 31, 1996. The quarter ended December 31, 1996 includes $0.7 million of sales which are a consequence of realignment of a subsidiary's period end. Sales increased 33.4% from $96.3 million in the six months ended December 31, 1995 to $128.5 million in the six months ended December 31, 1996. Sales in North America, Europe and Asia increased from $57.1 million, $23.1 million, and $16.1 million in the six months ended December 31, 1995 to $71.1 million, $30.1 million, and $27.3 million in the six months ended December 31, 1996. A continued increase in the demand for advanced photomasks which have higher average selling prices was a primary contributor to the increase in sales during these periods. This shift in demand reflects what the Company believes to be a trend toward higher utilization of complex semiconductor devices with finer line-widths. The increase in sales during these periods also reflects the overall increase in demand for photomasks. dlo

To: shane forbes who wrote (141)	2/21/1998 3:30:00 PM
From: Duane L. Olson	Read Replies (2) \| Respond to of 955

NEXT PREVIOUS REPORT: DPMI reports Sharply higher Sales Growth in the 10Q filed with the SEC for the previous quarterly period.. This report should be treated as: A. Part of the previous 7 quarters of no sales growth B. A fraud on the part of DPMI C. Facts DUPONT PHOTOMASKS INC Filed on Nov 4 1996 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of the financial condition and results of operations should be read in conjunction with the financial statements of the Company and the related notes thereto. Prior to the Company's initial public offering (the IPO) on June 13, 1996, it was a wholly-owned subsidiary of E.I. duPont de Nemours and Company (DuPont). The Company's historical results prior to the IPO are not necessarily indicative of the results that would have been achieved if the Company had been independent and may not be an accurate indication of future results. The pro forma income statement estimates the effects of certain events associated with the IPO as if such events had taken place on July 1, 1995. The pro forma income statement does not purport to represent what the results of operations of the Company would actually have been had certain events in fact occurred on July 1, 1995 or to project the results of operations of the Company for any future period. RESULTS OF OPERATIONS SALES Sales are comprised primarily of photomask sales to semiconductor manufacturers. Sales increased 39.5% from $46.0 million in the quarter ended September 30, 1995 to $64.2 million in the quarter ended September 30, 1996. Sales in North America, Europe and Asia increased from $26.5 million, $11.5 million, and $8.0 million in the quarter ended September 30, 1995 to $35.4 million, $15.3 million, and $13.5 million in the quarter ended September 30, 1996. A continued increase in the demand for advanced photomasks which have higher average selling prices was a primary contributor to the increase in sales during this period. This shift in demand reflects what the Company believes to be a trend toward higher utilization of complex semiconductor devices with finer line-widths. The increase in sales during this period also reflects the overall increase in demand for photomasks. dlo