Niwot, Colo.--July 22, 1998--The Dii Group, Inc. (Niwot)reported second quarter 1998 net revenues of $221.9 million, up 21 percentfrom $184.1 million a year ago. Net income was $6.1 million, or 23 cents perdiluted share, compared with $7.5 million, or 27 cents per diluted share, inthe year-ago quarter. The earnings level was due to underutilization ofassets associated with generalized softness in the electronics industry.
Revenues for the first six months of 1998 were $457.3 million, up42 percent from $321.2 million in the same prior year period. Net income forthe first half of 1998 was $13.0 million, excluding a $38.9 million after-taxrestructuring charge that was taken in the first quarter. In the first halfof 1997, the company's net income was $12.6 million.
Thomas J. Smach, Dii's chief financial officer, expects modestsequential improvement in the third quarter, and diluted earnings per share ofabout 45 to 50 cents in the fourth quarter. Diluted earnings per share shouldbe around $2.00 in 1999.
The Dii Group, Inc.
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