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ACME ELECTRIC CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 EAST AURORA, N.Y., Oct. 29 /PRNewswire/ -- Acme Electric Corporation (NYSE: ACE) announced today that, for the first quarter ended October 1, 1993, of its 1994 fiscal year, net sales were $19,244,000, compared to $20,384,000 for the previous year, with a net loss of $299,000, or $.06 per share. A one-time net gain of $153,000 from the sale of the Corporation's consumer automotive battery charger business is included in the results for the period.
 Chairman and Chief Executive Officer, G. Wayne Hawk, said that, "The economy, which had been improving at a slow rate, seemed to hesitate in the first quarter causing orders for Acme's products to fall below plan. Our standard transformer division and our commercial electronics business also incurred additional costs for major new programs, and the battery operation continued to lose money at an unacceptable rate. Steps are underway to counteract these factors and bring results through the balance of the fiscal year."
 Founded in 1917, Acme Electric Corporation is a leader in the design and manufacture of power conversion equipment for electronic and electrical systems for industrial, commercial, residential, and military and aerospace applications. Corporate headquarters are in East Aurora, N.Y., with operations in Cuba, N.Y., Lumberton, N.C., Tempe, Ariz., and West Jordan, Utah.
 ACME ELECTRIC CORPORATION
 Comparative Analysis
 13 Weeks Ended
 10/01/93 10/02/92
 Net sales $ 19,244,000 $20,384,000
 Income (loss) before cumulative
 effect of a change in accounting
 principle (299,000) 143,000
 Cumulative effect of a change in
 accounting principle --- 219,000
 Net income (loss) (299,000) 362,000
 Earnings (loss) per share before
 cumulative effect of a change in
 accounting principle $(.06) $.03
 Cumulative effect of a change in
 accounting principle $ --- $.05
 Earnings (loss) per share $(.06) $.08
 Weighted number of shares outstanding
 used to compute income per
 common share 4,835,968 4,788,514
 -0- 10/29/93
 /CONTACT: David Anderson of Acme Electric Corporation, 716-655-3800/
 (ACE)


CO: Acme Electric Corporation ST: New York IN: CPR SU: ERN

MP-WB -- NY040 -- 8478 10/29/93 11:47 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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