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ADVANCE CIRCUITS, INC. ANNOUNCES RESULTS FOR FISCAL 1992

 ADVANCE CIRCUITS, INC. ANNOUNCES RESULTS FOR FISCAL 1992
 MINNETONKA, Minn., Sept. 23 /PRNewswire/ -- Advance Circuits, Inc.


(NASDAQ-NMS: ADVC), Minnetonka-based manufacturer of printed circuits, announced today financial results for its 1992 fiscal year.
 Sales for the fiscal year ended Aug. 29, 1992, were $93,397,000, an increase of 5 percent from 1991 sales of $89,114,000. Net income for the year was $4,657,000 or $.70 per share. This compares to net income of $5,600,000 or $.81 per share in fiscal 1991.
 For the fourth quarter, the company reported sales of $24,082,000 and a net income of $1,229,000 or $.18 per common share. This compares to fourth quarter fiscal 1991 sales of $24,206,000 and a net income of $1,416,000 or $.21 per share.
 Robert W. Heller, president, indicated that the company's financial results for the fiscal year, while not as good as he had expected, exceeded the results of the industry in a period of declining prices and demand. However, he indicated that the commercial segment of the industry, particularly hard hit by price competition, has begun to show signs of improvement. He expects the industry to show increased demand in 1993. He indicated that the company is continuing its program of equipment upgrading. In the fiscal year 1992, the company purchased or leased $8.035 million of new equipment and plans on an additional expenditure of $11.500 million in fiscal 1993. The company completed the fiscal year with an order backlog of $48,101,000 compared to a backlog of $46,125,000 at Aug. 31, 1991.
 The company's common stock is traded on the NASDAQ National Market System under the symbol ADVC.
 ADVANCE CIRCUITS, INC.
 Condensed Statement of Income
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended 12 Months Ended
 8/29/92 8/31/91 8/29/92 8/31/91
 Net sales $24,082 $24,206 $93,397 $89,114
 Cost of sales 20,711 20,658 80,819 74,997
 Gross profit 3,371 3,548 12,578 14,117
 Operating expense 1,420 1,296 5,186 5,229
 Income before income tax 1,951 2,252 7,392 8,888
 Income taxes 722 836 2,735 3,288
 Net income $1,229 $1,416 $4,657 $5,600
 Average number of common
 shares and equivalents
 outstanding 6,642 6,775 6,649 6,903
 Net income per common share $.18 $.21 $.70 $.81
 SUMMARY BALANCE SHEET
 (Unaudited)
 8/29/92 8/31/91
 Current assets $22,376 $20,756
 Other assets 19,363 16,182
 Total $41,739 $36,938
 Current liabilities 10,745 10,916
 Other liabilities 965 546
 Net worth 30,029 25,476
 Total $41,739 $36,938
 -0- 9/23/92
 /CONTACT: Robert W. Heller, president, or Thomas I. Mueller, executive vice president, 612-935-3311, both of Advance Circuits/
 (ADVC) CO: Advance Circuits, Inc. ST: Minnesota IN: CPR SU: ERN


AL -- MN009 -- 2813 09/23/92 16:49 EDT
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Date:Sep 23, 1992
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