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ACTON CORPORATION ANNOUNCES RESULTS

 ACTON CORPORATION ANNOUNCES RESULTS
 RALEIGH, N.C., Nov. 13 /PRNewswire/ -- Acton Corporation (AMEX: ATN)


Common Stock (ATN), $3.75 Cumulative Preferred Stock (ATNPR), today announced a net loss of $3,197,470 in the three months ended Sept. 30, 1992 for a loss of $1.41 per primary and fully diluted share on net revenues of $54,995,607, compared to a loss of $1,748,029 or $.85 per primary and fully diluted share on net revenues of $59,482,950 in 1991. All per share computations are after consideration of the Company's preferred stock dividend requirements. The Company's 1992 loss included a special provision of $1,800,000 recorded to cover the anticipated costs to be incurred in connection with the previously announced closing of one of its furniture manufacturing plants.
 For the nine months ended Sept. 30, 1992, the company reported a net loss of $699,888 on net revenues of $181,202,910 or $.73 per primary and fully diluted share compared to a loss of $6,187,726 or $2.92 per share (both primary and fully diluted) on revenues of $180,408,362 for the first nine months of 1991. The 1992 loss was primarily attributable to the provision of $1,800,000 discussed above. Reported earnings of the Company's textile equipment manufacturing division for the nine months of 1992 were approximately $864,000 higher as the result of the Company's previously announced purchase on April 13, 1992, of Hickory Furniture Company's remaining interests in Sew Simple Systems, Inc.
 Stockholders' equity decreased $14,923,522 during the nine months of 1992, from $32,076,512 to $17,152,990, primarily due to the previously announced reduction of $10,933,955 required in conjunction with the Company's acquisition of Hickory Furniture Company's remaining interests in Sew Simple Systems, Inc., Acton's Fountain Inn, South Carolina subsidiary which designs and manufactures automated textile machinery. This reduction was required under generally accounting principles due to the Sew Simple interests being acquired from an affiliate of Acton and does not represent an economic diminution in shareholders' interests since the transaction price represented no more than the fair value of the assets acquired.
 Acton Corporation is primarily engaged in specialized automobile insurance underwriting, manufacturing, real estate development and the operation of a cable television system.
 ACTON CORPORATION
 FINANCIAL SUMMARY
 (Amounts in Thousands, except per share data)
 (Unaudited)
 Quarter Ended Nine Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 Net revenues $ 54,996 59,483 181,203 180,408
 Loss before
 extraordinary
 item (2,814) (1,748) (700) (6,188)
 Extraordinary item-
 Reduction in
 utilization of
 net operating loss
 carryforwards (383) -- -- --
 Net loss (3,197) (1,748) (700) (6,188)
 Per share data:
 Primary:
 Loss before
 extraordinary
 item (1.26) (.85) (.73) (2.92)
 Extraordinary item (.15) -- -- --
 Net loss (1.41) (.85) (.73) (2.92)
 Fully diluted:
 Loss before
 extraordinary
 item (1.26) (.85) (.73) (2.92)
 Extraordinary item (.15) -- -- --
 Net loss (1.41) (.85) (.73) (2.92)
 Assets 270,475 292,241
 Stockholders' Equity 17,153 36,243
 -0- 11/13/92
 /CONTACT: Glenn J. Kennedy, Chief Financial Officer, Acton Corporation, 919-781-5611/
 (ATN) CO: Acton Corporation ST: North Carolina IN: INS TLS SU: ERN


SB -- CH010 -- 0913 11/13/92 17:19 EST
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Date:Nov 13, 1992
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