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DALLAS SEMICONDUCTOR CORPORATION REPORTS REVENUES AND NET INCOME FOR THE YEAR AND FOURTH QUARTER 1991

     DALLAS SEMICONDUCTOR CORPORATION REPORTS REVENUES AND NET
           INCOME FOR THE YEAR AND FOURTH QUARTER 1991
    DALLAS, Jan. 20 /PRNewswire/ -- Dallas Semiconductor Corporation (NYSE: DS) today reported a record $103,764,000 net sales for 1991 compared with $100,018,000 net sales for 1990.  Net income for 1991 was also a record $14,740,000 ($0.58 per share), compared with $13,839,000 ($0.56 per share) for 1990.
    Net sales for the fourth quarter of 1991 were $22,791,000 compared with $25,678,000 for the fourth quarter of 1990.  Net income for the fourth quarter of 1991 was $3,025,000 ($0.12 per share), compared with $3,623,000 ($0.15 per share) for the fourth quarter of 1990.  The decline in fourth quarter 1991 net sales from the fourth quarter of 1990 occurred primarily in the Timekeeping and NVRAM product families. Economic conditions and softness in the personal computer sector were responsible for this result, the company stated.
    C.V. Prothro, chairman and chief executive officer, said, "In light of the current recession we are cautious in our outlook for 1992.  We do not expect any substantial improvement in sales until the economy rebounds, hopefully by mid-year."  In an effort to preserve the company's profitability during this period, the company implemented a 9 percent reduction in force along with other cost reduction and cost containment measures in October 1991.  Prothro said, "These efforts have been successful and were implemented without significant disruption in our operations."
    Prothro further stated, "Dallas Semiconductor remains committed to new product development as a means to increase future revenues and to further diversify Dallas Semiconductor's product base.  Our history of providing low cost, innovative semiconductor solutions to customer problems should continue to provide the fuel for our future growth."
    Dallas Semiconductor Corporation develops, manufactures and markets high performance Complementary Metal Oxide Semiconductor (CMOS) integrated circuits and semiconductor-based systems that provide innovative and cost-effective solutions to electronic design problems in a wide range of existing and emerging markets.
                    DALLAS SEMICONDUCTOR CORPORATION
                    Financial Highlights (Unaudited)
    Fiscal quarter ended;       12/29/91       9/29/91        12/30/90
    Net sales                  22,791,000    24,955,000    25,678,000
    Operating income            4,648,000     4,751,000     4,834,000
    Net income                  3,025,000     3,571,000     3,623,000
    Net income per share            $0.12         $0.14         $0.15
    Weighted average common
      and common equivalent
      shares outstanding       25,480,000     25,653,000     24,865,000
    Year ended;                   12/29/91            12/30/90
    Net sales                   103,764,000        100,018,000
    Operating income             20,488,000         18,086,000
    Net income                   14,740,000         13,839,000
    Net income per share              $0.58              $0.56
    Weighted average common
      and common equivalent
      shares outstanding          25,633,000          24,924,000
                        DALLAS SEMICONDUCTOR CORPORATION
                        Consolidated Statements of Income
                 (Thousands except per share amounts - Unaudited)
    Fiscal quarter ended;     12/29/91          9/29/91        12/30/90
    Net sales                  22,791           24,955          25,678
    Cost of sales              11,525           12,492          12,857
    Selling, general and
     administrative             3,496            3,880           4,130
    Research and development    3,122            3,832           3,857
     Total costs & expenses    18,143           20,204          20,844
    Operating income            4,648            4,751           4,834
    Interest income, net          623              659             654
    Income before income
     taxes                      5,271            5,410           5,488
    Provision for income
     taxes                      2,246            1,839           1,865
    Net income                  3,025            3,571           3,623
    Net income per share        $0.12            $0.14           $0.15
    Weighted average common
     and common equivalent
     shares outstanding        25,480           25,653          24,865
                        DALLAS SEMICONDUCTOR CORPORATION
                           Consolidated Balance Sheets
                               (In thousands)
                               12/29/91                  12/30/90
    Assets
    Current Assets:
     Cash and investments       45,797                     45,908
     Accounts receivable        10,835                     14,214
     Inventories                21,324                     16,457
     Other current assets        2,418                      2,236
       Total current assets     80,374                     78,815
    Property, plant &
     equipment, net             39,579                     39,398
    Long-term investments        7,234                         --
    Other assets                 1,983                      1,924
    Total                      129,170                    120,137
    Liabilities and
     Stockholders' Equity
    Current liabilities:
     Accounts payable            3,834                      6,016
     Current maturities
      of long-term debt
      and capitalized lease
      obligations                1,704                      2,868
     Accrued salaries and
      benefits                   2,221                      3,758
     Income taxes payable        1,140                        800
     Other accrued liabilities   2,648                      1,768
       Total current
        liabilities             11,547                     15,210
    Capital lease obligations    1,289                      2,876
    Long-term debt               2,983                      4,807
    Stockholders' equity:
     Common stock                  484                        477
     Additional paid-in
      capital                   70,796                     69,436
     Retained earnings          42,071                     27,331
       Total stockholders'
        equity                 113,351                     97,244
    Total                      129,170                    120,137
    -0-        1/20/92
    /CONTACT:  Michael G. Pate, vice president-finance of Dallas Semiconductor, 214-450-0400/
    (DS) CO:  Dallas Semiconductor Corporation ST:  Texas IN:  CPR SU:  ERN SM -- NY049 -- 1529 01/20/92 16:44 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Jan 20, 1992
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