Waterloo, Ontario, July 14, 2008 - DALSA Corporation (TSX:DSA) announced today that the positive results reported in its core business over recent quarters are continuing with particular strength reported within Digital Imaging. With sales of approximately $120 million per year, this division provides high performance cameras, frame grabbers, and image processing for machine vision, industrial inspection, automation, test and measurement, and life sciences applications. In addition, DALSA’s Semiconductor business continues to demonstrate its strong position in key target markets, with operating results reflecting that strength.
“During these past weeks of general market malaise and economic uncertainty, I am concerned that our company’s shareholders may be incorrectly associating stock market softness with DALSA’s opportunities. Our strong operational recovery over the past two quarters continues to be supported by the product and market success we enjoy,” commented Brian Doody, Chief Executive Officer of DALSA Corporation.
“We are very pleased with the continued strength of our end markets, with specific market and product highlights within our Digital Imaging group,” continued Mr. Doody. “In flat panel display inspection, for example, where DALSA is the leading supplier of digital cameras and image processing components, we have seen more than a doubling of shipments in both the first and second quarters of 2008, and in the past several weeks we have continued to see strong booking levels.”
Mr. Doody added, “It is also very encouraging to report that our customers are finding real value and competitive advantage by selecting our key new product offerings in Digital Imaging. This success is broadly based and covers diversified end markets and geographic regions. In particular, the Ethernet-addressable Genie camera product line has quickly become DALSA’s fastest growing offering, with each quarter showing marked increases in shipments. Our expansion into new but accessible markets is led by newer products such as our Piranha colour line scan camera. The Digital Imaging division is giving our customers an edge in their markets and we are sharing that success.”
Commenting on DALSA’s other business units, Mr. Doody noted, “Our Semiconductor division tabled a plan for strong growth and recovery to its financial model for 2008, and I am very happy to see their success in that regard already demonstrated, and I expect it to continue as we move through the rest of the year. Looking to Digital Cinema, our work with Genuity Capital Markets to identify a strategic partner for that business is proceeding well. We look forward to providing more detail of how these positive developments are benefiting our overall operations when we announce our Q2 results on July 31.”
Since announcing strategic actions in September 2007 to improve operating results, the Company reported Q4 2007 and Q1 2008 results that showed year over year quarterly revenue increases of 9.3% and 20.6% respectively. Net income growth exceeded 35% year over year, in both periods.
DALSA will release its Second Quarter 2008 financial results on Thursday, July 31st at 4:00pm ET. A conference call to discuss the results will be held the same day at 5:00pm ET. The conference call, followed by the question and answer period, will be broadcast live and open to anyone interested in listening at http://events.onlinebroadcasting.com/dalsa/073108/index.php. The phone numbers for those who wish to participate in the question and answer period are as follows:
Live Conference Access Information:
Local Access: 416-641-6136
Toll-Free Access: 866-223-7781
Instant Replay Access information:
Local Access: 416-695-5800
Toll-Free Access: 800-408-3053
Expiry Date: Aug 14, 2008
About DALSA Corporation
DALSA is an international leader in high performance digital imaging and semiconductors with approximately 1000 employees world-wide. Established in 1980, the company 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 (CCD and CMOS); 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” and has its corporate offices in Waterloo, Ontario, Canada.
For more information, please contact:
Vice President, Corporate Communications
Tel: (519) 886-6001 Ext. 2177
Fax: (519) 886-3972
E-mail: [email protected]
Some of the statements in this press release, including those relating to the company’s strategies, the continued strength of the company’s core business units and end markets, the company’s continued strong booking levels in flat panel display inspection and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “continue”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, are forward-looking statements within the meaning of securities law. 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. Investors should read review the Business Risks and Prospects sections of the DALSA 2007 annual Management’s Discussion and Analysis (“MD&A”) to understand the assumptions, risks and uncertainties inherent in forward looking information or statements. DALSA has no intention or obligation to update or revise any forward-looking statements, whether as a result