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Del Global Technologies Announces Fiscal 2004 Fourth Quarter and Year-End Operating Results.

Article Excerpt
VALHALLA, N.Y. -- Del Global Technologies Corp. (DGTC) ("Del Global" or "the Company") today announced operating results for its fiscal 2004 fourth quarter and year ended July 31, 2004, as well as summary balance sheet data (see attached tables).

CORPORATE OVERVIEW

As previously announced, Del Global completed the sale of its High Voltage Power business, a part of its Power Conversion Group, on October 1, 2004 as part of the Company's previously announced strategic alternatives review. Accordingly, this business is presented as a discontinued operation for the fiscal 2004 and 2003 periods.

Also as previously announced, the Company entered into non-binding letters of intent for the sale of both the Medical Systems Group and the remainder of its Power Conversion Group business segments. The Company intends to call a meeting of stockholders to seek approval under New York law for the sale of the Medical Systems Group Segment in the event a definitive agreement is entered into for such sale. There can be no assurance that these non-binding letters of intent will result in the consummation of the sale of these segments or that the strategic alternatives process initiated by the Company will lead to any other transactions. The Company may seek stockholder approval of a plan of liquidation; however, the Board of Directors of the Company has not yet approved any plan of liquidation. Any proceeds that may be received by stockholders of the Company as a result of any plan of liquidation may be greater or less than the current market price of Del Global's common stock.

FISCAL 2004 FOURTH QUARTER AND YEAR END RESULTS

Consolidated net sales for fiscal 2004 increased 22.9% to $83.8 million from $68.2 million last year. Consolidated net sales in the fourth quarter of fiscal 2004 rose 3.2% to $19.4 million from $18.8 million in the comparable period of the prior year.

Sales at the Medical Systems Group rose 26.2% to $70.8 million during fiscal 2004 from $56.1 million last year,...