DALSA first-quarter revenues soar

MAY 2--DALSA Corp. (Waterloo, ON, Canada;www.dalsa.com), a provider of digital imaging products and semiconductor products and services, reported increased revenues for the first quarter, ended March 31, 2003. The company's first-quarter revenues, earnings, and previously stated goals are consistent with the company's seasonal business trends. Both the Semiconductor Products and Services Division ("the Semiconductor Business") and the Digital Imaging Products and Solutions Division ("the Digital Imaging Business") returned positive operating results and are contributing to achieving the company's plans for 2003.

For the three months ended March 31, 2003, the company reported total revenues of $33.4 million as compared to $14.7 million in the same period in 2002, an improvement of $18.7 million or 127%. Growth in standard product sales was achieved by the Semiconductor Business, which realized delivery of orders delayed from fourth-quarter 2002 and a quarter-over-quarter revenue increase of $3.0 million or 30% (excluding intersegment sales), which was above expectations. The company also reports continuing improvements in Semiconductor Business forecasts for 2003, a book-to-bill ratio in the first quarter exceeding 1.0, and record backlog orders.