Dynamic Precision Casting posted 4-month EPS of NT$0.94

Taipei, May 23, 2003 (CENS)--Dynamic Precision Casting Mfg. Co., Ltd., a main local manufacturer of golf heads listed on the local over-the-counter bourse, reaped earnings per share (EPS) of NT$0.94 for the first four months of this year.

Dynamic Precision is the fourth largest producer of golf heads in Taiwan but the first one making wood golf heads sheathed with iron and hollow iron golf heads. The company rang up cumulative revenue of NT$439 million in the first four months of this year, dropping by 9.86% from the NT$487 million posted in the same period of last year and fulfilling 33.54% of the projection for this year.

With pretax profit of NT$14.84 million for in April, Dynamic Precision brought in pretax profit of 53.79 million in the first four months, attaining 36.69% of the goal for this year and translating into EPS of NT$0.94.

The company's financial projection for this year is as follows: revenue of NT$1.309 billion, gross operating profit of NT$340.31 million, net operating profit of NT$170.98 million, pretax profit of NT$146.59 million, after-tax profit of NT$118.74 million, and net (after-tax) EPS of NT$2.01.

To minimize production cost and meet growing orders, Dynamic Precision has set up a factory in Guangdong Province of mainland China. Currently, the company's domestic factory focuses on production of 25,000 relatively expensive titanium-alloy golf heads a month, while the mainland factory makes wooden golf heads, iron golf heads, and putters with respective monthly capacities of 260,000, 80,000, and 40,000 units.

To meet the growing demand by its largest client Taylor Made, several production lines of the mainland factory are dedicated to OEM (original equipment manufacturing) production for Taylor Made.