DALSA Corporation (TSX:DSA), 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 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 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, high-voltage semiconductors, image sensors and mixed-signal CMOS chips. DALSA is listed on the Toronto Stock Exchange 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 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.
For more information, please contact:
Director, Corporate Communications
Tel: (519) 886-6001 Ext. 2177
Fax: (519) 886-3972