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AUTOCLAVE ENGINEERS, INC. REPORTS FISCAL 1994 SEOCND QUARTER/FIRST HALF RESULTS

 ERIE, Pa., Jan. 7 /PRNewswire/ -- Autoclave Engineers, Inc. (NASDAQ: ACLV) today reported results for the first half of fiscal 1994, ended Nov. 30, 1993.
 Net income for the first half of fiscal 1994 was $189,000 or $0.04 per share on sales of $36,750,000. This compares to $138,000 or $0.03 per share of net income generated by sales of $38,733,000 in the first half of fiscal 1993.
 Sales in the second quarter this year were $17,178,000 vs. $21,262,000 in fiscal 1993. This lower volume resulted in a net loss of $70,000 or $0.02 per share. Last year second quarter net income was $263,000 or $0.06 per share.
 Commenting on these results, Dr. William F. Schilling, president and chief executive officer, said, "Both the Autoclave Engineers Group (AEG) and Burton Corblin (BC) had weak sales in the second quarter, repeating the pattern of the first quarter. Unlike the first quarter, however, Unit Instruments, Inc. (Unit) could not totally offset this shortfall. Unit's shipments were good, but fell well short of the record level of the first quarter."
 Schilling went on to say, "Although low volume was the primary reason for the second quarter loss, AEG's new precision cleaning product also had a negative impact on performance as AEG continued to bear the expense associated with the start-up of this product line, with low offsetting revenue."
 As for the outlook for the third quarter and the fiscal year, Schilling said, "BC's sales will be stronger in both the third and the fourth quarters and they should be profitable. We expect Unit's good performance of the first half to continue. The outlook for the AEG is much more uncertain. AEG must realize a significant increase in sales in order to make a substantial contribution to corporate earnings for the year; and as yet, we see no indication that such an increase is imminent."
 Autoclave Engineers, Inc., headquartered in Erie with subsidiaries in Erie; Yorba Linda, Calif.; and Nogent, France, is a recognized leader in providing high quality engineered products for chemical research and related process markets throughout the world.
 AUTOCLAVE ENGINEERS, INC.
 Consolidated Statement of Earnings
 Period Ended Second Quarter Six Months
 Nov. 30 1993 1992 1993 1992
 Net sales $17,178,000 $21,262,000 $36,750,000 $38,733,000
 Net income (loss) (70,000) 263,000 189,000 138,000
 Net income (loss)
 (per share) $(0.02) $0.06 $0.04 $0.03
 Average shares used
 to compute earnings
 per share 4,213,724 4,265,130 4,247,174 4,223,466
 -0- 1/7/94
 /CONTACT: Thomas C. Guelcher, chief financial officer of Autoclave Engineers, 814-838-5804/
 (ACLV)


CO: Autoclave Engineers, Inc. ST: Pennsylvania IN: HEA SU: ERN

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Publication:PR Newswire
Date:Jan 7, 1994
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