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ANDREW SETS THIRD-QUARTER AND NINE-MONTH SALES AND INCOME RECORDS

 ANDREW SETS THIRD-QUARTER AND NINE-MONTH SALES AND INCOME RECORDS
 ORLAND PARK, Ill., July 23 /PRNewswire/ -- Andrew Corp. (NASDAQ: ANDW) today reported record sales, net income and earnings per share for the third quarter and nine months ended June 30, 1992.
 Sales for the quarter, were $113.9 million, an 8 percent increase over sales of $105.9 million for the third quarter last year.
 Net income for the third quarter increased 18 percent to $5.9 million from $5 million. Earnings per common share were $.60 compared with $.52, an increase of 15 percent.
 Orders for the third quarter were up 3 percent to a record $103.5 million from $100.5 million. Due to efficiencies achieved in order turnaround time, backlog expected to be shipped over the next 12 months declined 14 percent to $98.3 million from year-earlier levels. Total funded backlog declined 16 percent to $104.7 million.
 For the nine months, sales increased 8 percent to $321.8 million from $298.3 million. Net income was $14.2 million, an increase of 7 percent from $13.3 million. Earnings per share were $1.45, also up 7 percent from $1.36 for the nine-month period last year.
 Orders for the nine months were up 1 percent to $312.6 million from $310.2 million last year.
 Floyd L. English, president and chief executive officer, said, "We are pleased with our third-quarter financial results. Increased demand from worldwide cellular and land mobile radio customers helped to improve our product mix. The volume increase and significant benefits from continuing cost reduction programs caused income to grow faster than sales.
 "Creative effort and hard work by many employees and major capital investments in manufacturing processes have substantially improved order throughput. Cable customers now receive their orders in almost one-half the time required just a year or two ago. This improvement, together with heavy shipments in June, is reflected in the decline in backlog and the 12 percent decrease in raw material and work in process inventories over the last nine months."
 English said, "We anticipate a strong fourth quarter and record financial performance for fiscal 1992. We also look forward to completion of our previously announced stock repurchase program in the next several weeks."
 ANDREW CORP.
 Consolidated Financial Data
 (Unaudited; amounts in thousands, except per-share data)
 Periods ended Three Months Nine Months
 June 30 1992 1991 1992 1991
 Sales $113,896 $105,932 $321,804 $298,292
 Income before tax 9,423 8,125 22,686 21,506
 Net Income 5,891 5,037 14,179 13,269
 Net income per share $.60 $.52 $1.45 $1.36
 Orders 103,514 100,489 312,634 310,169
 Twelve month backlog 98,339 114,695 98,339 114,695
 Average shares outstanding 9,805 9,778 9,783 9,767
 -0- 7/23/92
 /CONTACT: Charles R. Nicholas of Andrew, 708-873-2740/
 (ANDW) CO: Andrew Corp. ST: Illinois IN: TLS SU: ERN


CK -- NY073 -- 2543 07/23/92 12:46 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
Words:500
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