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ASTROCOM ANNOUNCES 1991 RESULTS, WITH NON-RECURRING CHARGES IN FOURTH QUARTER; SALE OF LEASEHOLD ON HEADQUARTERS BUILDING

ASTROCOM ANNOUNCES 1991 RESULTS, WITH NON-RECURRING CHARGES IN FOURTH
 QUARTER; SALE OF LEASEHOLD ON HEADQUARTERS BUILDING
 ST. PAUL, Minn., March 30 /PRNewswire/ -- Astrocom Corporation (NASDAQ: ACOM) today announced its year-end results for 1991, including reserves established in the fourth quarter for an operating consolidation and a contingent liability relating to its former Circuit Board One subsidiary.
 For the fourth quarter ended Dec. 31, 1991, Astrocom had net revenues of $1,471,000, with a net loss of $833,000, or $.25 per share. This compares to net revenues of $1,717,000, with a net loss of $1,022,000 or $.39 per share in the fourth quarter of 1990, when the company took a write-off of $1,152,000 for obsolete inventory and employment contracts with former executives.
 The fourth quarter results for 1991 include a non-recurring charge of $350,000 as a reserve for costs of the consolidation announced in February 1992, to relocate manufacturing operations from Huntsville, Ala., to St. Paul. Also included is a one-time charge of $300,000 to cover contingent liabilities relating to the Circuit Board One subsidiary, sold in 1990. Astrocom continues to guarantee certain building and equipment leases for this business, which is now in Chapter 11 bankruptcy.
 For the year ended Dec. 31, 1991, Astrocom had net revenues of $5,873,000, with a net loss of $1,175,000, or $.37 per share. For the prior year, the company had net revenues of $6,459,000, with a net loss of $903,000 or $.34 per share.
 "In the face of recessionary pressures, Astrocom aggressively reorganized and consolidated in 1991 to reduce expenses and improve productivity for the future," Stephen C. O'Hara, chief executive officer, commented. "With our lower break-even point, the company can be profitable at anticipated sales volumes in 1992."
 Sale of Leasehold Interest on Headquarters Building
 Astrocom also announced that is has entered into an agreement to sell the leasehold interest in its 34,000 square-foot headquarters building in St. Paul to Crepeau Company. The sale is scheduled to close on March 31, 1992. Astrocom will receive $300,000 in cash for the assignment of the 15 years remaining on the 30-year lease. The gain of approximately $375,000 on this sale will be recognized over the 15-year remaining lease term. Astrocom said that it would lease back approximately 19,000 square feet of the building for the next 12 months and then relocate to a more suitable location in the Twin Cities area.
 Elections
 At the director's meeting on March 30, 1992, S. Albert D. Hansen, chairman of Hanrow Financial Group, LTD, was elected chairman of the board of Astrocom. O'Hara remains chief executive officer and president.
 Marvin Swenson, a retired CDC executive, after many years of service as a director of Astrocom, resigned from the board on March 30, 1992. Dennis E. Evans, chief executive officer of Hanrow Financial Group, LTD, was elected to fill the vacancy on the board.
 Astrocom Corporation designs, manufactures and markets advanced digital communications equipment for the data transmission needs of corporations and other large organizations. Astrocom multiplexers and data sets provide cost-effective long distance communications via digital public data networks. In a local environment, Astrocom fiber optic and coaxial multiplexers support a broad range of different manufacturers' networks.
 ASTROCOM CORPORATION
 (000's except per share data)
 Fourth Quarter 12 Months
 1991 1990 1991 1990
 Net revenues $1,471 $1,717 $5,873 $6,459
 Gross profit 685 709 3,046 3,148
 Expenses:
 Selling and administrative 652 341 2,754 2,102
 Research and Development 165 171 620 619
 Interest expense 51 67 197 187
 Unusual item 650 1,152 650 1,152
 Subtotal expenses 1,518 1,731 4,221 4,060
 Loss from continuing operations
 before income taxes (833) (1,022) (1,175) (912)
 Income taxes -- -- -- --
 Loss from continuing operations (833) (1,022) (1,175) (912)
 Income (loss) from discontinued
 operations -- -- -- --9
 Net loss $(833) $(1,022) $(1,175) $(903)
 Net loss per share:
 Continuing operations $(.25) $(.39) $(.37) $(.34)
 Discontinued operations -- -- -- --
 Net income (loss) $(.25) $(.39) $(.37) $(.34)
 Shares used in the
 computation 3,315,947 2,626,429 3,180,222 2,626,429
 -0- 3/30/92
 /CONTACT: Joseph H. Jennings of Jennings Communications, 612-371-8280, for Astrocom or Stephen C. O'Hara of Astrocom, 612-227-8651/
 (ACOM) CO: Astrocom Corporation ST: Minnesota IN: CPR SU:RE DETROIT 313-352-5200/ TO EDITORS:
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ML -- DETEST -- 3039 03/30/92 16:21 EST
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Date:Mar 30, 1992
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