DALSA Updates 2005 Financial Goals To Include Coreco Business.WATERLOO, Ontario Coordinates: Waterloo is a city in Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the larger city of Kitchener. -- DALSA Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DSA (1) (Directory Server Agent) An X.500 program that looks up the address of a recipient in a Directory Information Base (DIB), also known as white pages. It accepts requests from the Directory User Agent (DUA) counterpart in the workstation. ), an international high performance semiconductor and electronics company, today announced updated financial operating goals for 2005 that incorporate the addition of incremental revenue and earnings resulting from the recent acquisition of Coreco Inc. As previously announced, management expects the acquisition to be accretive to earnings in the current year. The Company's updated financial operating goals for 2005 are $215 to $234 million in revenue (previously $192 to $208 million) with net income in the range of $23 to $25.5 million, or $1.24 to $1.38 per share, diluted (previously $21.0 to $22.5 million, or $1.22 to $1.31 per share, diluted). The updated earnings per share goal is based on a weighted average of 18.5 million fully diluted shares outstanding for the year. Management expects revenues in the second quarter of 2005 to be in the range of $44 to $48 million (previously $40 to $43 million). "Since the closing of the acquisition on April 26th, we have gained comfort regarding the additive nature of the Coreco business and are therefore updating our financial operating goals at this time," commented Savvas Chamberlain, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DALSA Corporation. "We are pleased by the anticipated level of accretion resulting from the acquisition, and we look forward to successfully integrating the new business unit into our operations". About DALSA Corporation DALSA is an international high performance semiconductor and electronics company that designs, develops, manufactures, and markets digital imaging products and solutions, in addition to providing semiconductor products and services. DALSA's core competencies are in specialized integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for and electronics technology, software, and highly engineered semiconductor wafer processing. Products and services include image sensor components; electronic digital cameras; vision processors; image processing software; and semiconductor wafer foundry services for use in MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. , high-voltage semiconductors, image sensors and mixed-signal CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. chips. DALSA is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "DSA". The Company has its corporate offices in Waterloo, ON and over 1000 employees world-wide. This press release contains forward looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements are detailed from time to time in DALSA's periodic reports filed with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and other regulatory authorities. DALSA has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DALSA Corporation (TSX:DSA) |
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