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DuPont Photomask: quarterly loss narrows

DuPont Photomasks Inc., which makes glass plates used in microchip manufacturing, reported on 21 January 2004 a lower quarterly loss resulting from of a fall in consolidation costs and a move by chip …

DuPont Photomasks Inc., which makes glass plates used in microchip manufacturing, reported on 21 January 2004 a lower quarterly loss resulting from of a fall in consolidation costs and a move by chip makers to more advanced production processes. The company said its loss went down to USD 13.2 million, or USD 0.73 a share, in the 2Q ended on 31 December 2003 from USD 23 million, or USD 1.28 a share, year-on-year. The loss included a USD 1 million charge for employee severance resulting from the consolidation of facilities in Europe and the United States, as well as a USD 600,000 benefit from the termination of a lease. The year-earlier loss included charges of USD 14.3 million, mainly for consolidating U.S. and European factories. Revenue rose 6% to USD 86 million from USD 81 million. Sales driven by state-of-the-art microchip production accounted for 25% of the total and rose 45% from the 1Q, the Texas-based company said. “The industry environment is clearly better than it“s been in some time,” Chief Executive Marshall Turner said in a statement. But “much work remains to return the company to healthy financial performance.”

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