DALSA reports solid earnings for first-quarter 2002

MAY 3--DALSA Corp. (Waterloo, Ontario, Canada) has reported its first-quarter financial results for the period ended March 31, 2002. Despite the continued slowdown in the semiconductor and electronics market segment, DALSA delivered earnings consistent with management's expectations. For the quarter ended March 31, 2002, the company reported total revenue of $14,663,000, compared to $15,723,000 in the first quarter of 2001. Net earnings for the three months ended March 31, 2002, were $1,047,000 or $0.09 per share, compared to net earnings of $1,233,000 or $0.10 per share in the first quarter of 2001.

DALSA CEO Savvas Chamberlain, noted "I am pleased that our company has demonstrated good revenue and earnings results in what has traditionally been our softest quarter. Since the second quarter of last year our industry watched as our primary market of semiconductors and electronics experienced a notable downturn. But now, as the first quarter ends, we have begun to see positive indicators of a recovery, including a strengthening of the industry's book-to-bill ratio. We look for this recovery to continue and strengthen as we move through 2002."

For more on this, see the company's Web site: www.dalsa.com.