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

To: jeffbas who wrote (595)	5/13/1998 9:42:00 AM
From: D. K. G.	Read Replies (3) \| Respond to of 955

DuPont Photomasks Announces Proposed Follow-On Offering Tuesday May 12, 4:59 pm Eastern Time biz.yahoo.com ROUND ROCK, Texas--(BUSINESS WIRE)--May 12, 1998--DuPont Photomasks, Inc. (NASDAQ: DPMI - news), more commonly referred to as DPI, today announced that it has filed a registration statement with the Securities and Exchange Commission for a follow-on public offering of its common stock. The company has filed to register 2.7 million shares of its common stock, 2 million of which would be sold by a wholly owned subsidiary of E.I. du Pont de Nemours and Company (NYSE:DD - news) as part of their previously announced intention to reduce their ownership interest in DPI. The remaining 700,000 shares would be sold by DPI. In addition, DuPont and DPI have agreed to sell 300,000 and 105,000 shares, respectively, to cover over-allotments. Net proceeds from the DPI portion of the offering will be used for general corporate purposes, including working capital, capital expenditures and potential acquisitions. The company may also use a portion of the net proceeds to repay certain indebtedness. DPI will not receive any proceeds from the sale of shares of the common stock owned by DuPont. The managing underwriters for the offering are Morgan Stanley Dean Witter, Deutsche Morgan Grenfell, Donaldson, Lufkin & Jenrette Securities Corporation, NationsBanc Montgomery Securities LLC and Needham & Company, Inc. A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This announcement is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. The offer will be made only by means of a prospectus, written copies of which may be obtained by contacting Morgan Stanley Dean Witter. Incorporated, 1585 Broadway, New York, NY 10036-8293, (212) 761-4000. Based on sales, DPI is one of the world's largest photomask manufacturers, operating globally from ten strategically located facilities in North America, Europe and Asia. The company produces and supplies photomasks as well as photoblanks (photomask substrates) and pellicles (protective covers for photomasks). DPI is headquartered in Round Rock, Texas, and had worldwide sales in fiscal 1997 of over $260 million. --------------------------------------------------- The recent Dupont news of refocusing the company made me wonder if this might occur. DPMI's parent will still control the majority of shares. I'd like to see who's selling the 700k of shares @ DPMI. Regards, DKG

To: jeffbas who wrote (595)	5/14/1998 9:33:00 PM
From: Duane L. Olson	Respond to of 955

JB... Yeah, something of a disappointment.. but not as bad as it first sounded... it isn't like they are creating 3,000,000 new shares ( an event which DID occur to me recently with CTEC, taking the stock from 17 to 13, fast. So we get a little consolidation on that news and get ready for the next run. Did you see the interesting slant on the sales increase in their last SEC 10Q?: QUOTE: Sales in North America, Europe and Asia increased from $107.0 million, $46.2 million and $38.1 million in the nine months ended March 31, 1997 to $114.4 million, $49.6 million and $39.7 million in the nine months ended March 31, 1998. A continued increase in the demand for advanced photomasks, which have higher average selling prices, was a primary contributor to the overall increase in sales during these periods. This shift in demand reflects what the Company believes to be a continued trend toward higher utilization of complex semiconductor devices with finer line-widths. Product mix related average selling price increases contributed approximately one half of the revenue growth in the quarter and nine months ended March 31, 1998. The balance of the revenue growth came from increased unit volume. UNQUOTE Would you say we were/are on the right track? TSO