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February 1, 1989

DEC TO STRESS COST CONSTRAINT OVER GROWTH FOR NEXT 18 MONTHS

By CBR Staff Writer

DEC will continue to show restraint in its capital spending plans, at least through the 1990 fiscal year, which ends in 17 months’ time, investor relations director Mark Steinkrauss told a Goldman, Sachs & Co technology conference in New York this week. Steinkrauss, says capital spending in the current fiscal to June 1989, will be about $1,500m, down from a previous forecast of $1,600m to $1,980m. He wouldn’t provide specific forecasts for capital spending in fiscal 1990, but said that it should be similar to this year’s levels. The restraint in capital spending is part of the Maynard minimaker’s shift in strategy to cost containment and away from gaining market share at all costs, and was adopted in late 1988. Effective cost containment in the second half will be key to DEC meeting turnover growth forecasts of 14% to 15% this year, compared with the $11,480m in 1988. That would take DEC to the $13,000m sales mark.

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