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Technology Stocks : Daw Technologies DAWK -- Ignore unavailable to you. Want to Upgrade?

To: Leo Mitkievicz who wrote (402)	10/23/1998 5:14:00 PM
From: al	Read Replies (1) \| Respond to of 607

Friday October 23, 4:16 pm Eastern Time Company Press Release Daw Technologies Inc. Announces Corporate Restructuring After Contract Reductions SALT LAKE CITY--(BUSINESS WIRE)--Oct. 23, 1998--Daw Technologies Inc. (NASDAQ:DAWK - news), Friday announced the cancellation of one previously awarded contract and the indefinite delay of a second contract. Both contracts are with large North American companies, while the projects themselves are located in the United States and the People's Republic of China. The cancellation and delay of these contracts is the direct result of the continuing uncertainty within the semiconductor industry. While industry analysts maintain that a strong capital spending recovery is on the horizon, the actual timeline of that recovery continues to be in question. Ronald W. Daw, president and chief executive officer said, ''The changes we have experienced with these contracts is a strong indication that the current recession within the semiconductor industry is continuing longer than industry analysts predicted. We currently believe that the downturn will continue for at least the next 12 months and could last up to 24 months. ''As a result, we are taking immediate actions to decrease our cost structure and increase our revenues outside of the semiconductor industry. Effective immediately, we have reduced our work force by more that 50 percent. In addition, we are pursuing opportunities to use our HVAC engineering and manufacturing expertise to sell custom air delivery systems to non-semiconductor companies. ''We believe that the tools and experience necessary to address this market already exist within the company and that we are poised to provide viable and innovative solutions to these customers. At the same time, we remain committed to serving our global semiconductor customers, and to developing leading-edge cleanroom technologies.'' Daw Technologies Inc. provides ultraclean manufacturing environments for customers throughout the world and specializes in the design, manufacturing and installation of cleanrooms meeting stringent semiconductor manufacturing requirements, eliminating particles l,000 times smaller than the diameter of a human hair. 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 effect the actual outcome include but are not limited to the length and severity of the semiconductor industry downturn, 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 and a decline in demand for semiconductors. For a more detailed discussion of these and associated risks, see the company's most recent documents filed with the Securities and Exchange Commission. Contact: Daw Technologies Inc., Salt Lake City Kevan Blair, 80l/977-3100 www.dawtech.com

To: Leo Mitkievicz who wrote (402)	11/3/1998 11:08:00 AM
From: Liatris Spicata	Read Replies (2) \| Respond to of 607

Leo- If it eases your paine, be it known that these are times that try men's pocketbooks. Some would say it serves them right for having pocketbooks! Anyway, as a former DAWK shareholder, I still retain an interest in this company. My concern is this. Will the semicon manufacturers need clean rooms so much in the future? Some semi manufacturing is being done in micro assembly facilities (that's not quite the right term) in which only the immediate area around the manufacturing area is clean. This could eliminate much of the need for Daw's products in their primary business sector. In other words, is Daw in a business that is in secular decline? There was some discussion of this trend a year or so ago on this thread, but I do not know that any complete assessment was reached. Regards, Larry