Aeroflex reports second quarter operating results.

PLAINVIEW, N.Y.--(BUSINESS WIRE)--Feb. 7, 1996--Aeroflex Inc. (NYSE Symbol: ARX), today announced operating results for the second quarter and six months ended Dec. 31, 1995.

Net sales for the second quarter ended Dec. 31, 1995 were $15,195,000 compared with $15,821,000 for the same period of last year. The company reported net income for the current quarter of $998,000 ($.08 per share fully diluted). Comparatively, net income for the quarter ended Dec. 31, 1994 was $1,084,000 ($.09 per share fully diluted) before life insurance proceeds of $2,000,000 ($.14 per share).

For the six months ended Dec. 31, 1995, net sales were $28,344,000 compared with $29,848,000 last year. The company reported net income of $1,605,000, ($.13 per share fully diluted) in the current six month period. Comparatively, net income for the six months ended Dec. 31, 1994 was $1,799,000 ($.16 per share fully diluted) before life insurance proceeds of $2,000,000 ($.14 per share).

Michael Gorin, president, stated, "The decline in sales in the current quarter compared to last year was due, in part, to customer requested shipping delays to conform to their stretched out production schedules. The company's backlog of orders at Dec. 31, 1995 was $40,000,000 as compared to $32,000,000 at Dec. 31, 1994. Another contributing factor was a delay in the transition of the military isolator product line from our former Puerto Rico subsidiary to our facility in New Jersey. We expect the integration of the product line to be complete by the end of our fiscal year."

Aeroflex Inc., headquartered in Plainview, designs and manufactures advanced electronics systems and components, including microelectronics, instrument products and electro-optical devices, primarily for the government and defense industry. It also designs and manufactures shock and vibration stabilizing systems used for commercial, industrial and defense applications. -0-

                            AEROFLEX INCORPORATED
                     CONSOLIDATED STATEMENTS OF EARNINGS

                  Quarter Ended             Six Months Ended
                     Dec. 31,                   Dec. 31,
              1995           1994          1995          1994

NET SALES  $ 15,195,000  $ 15,821,000  $ 28,344,000  $ 29,848,000

Income
  Before
  Income
  Taxes(a) $  1,247,000  $  3,279,000  $  2,005,000  $  4,119,000

Provision
  for Income
  Taxes         249,000       195,000       400,000       320,000

Net Income    $ 998,000  $  3,084,000  $  1,605,000  $  3,799,000

Net Income Per
  Common Share:
    Primary       $ .08         $ .25         $ .13         $ .31
    Fully Diluted $ .08         $ .23         $ .13         $ .30

Weighted Average
  Shares
  Outstanding -
    Primary    12,626,000  12,325,000    12,671,000    12,339,000
    Fully
      Diluted  14,402,000  14,103,000    14,459,000    14,135,000

(a) Includes $2,000,000 ($.16 per share primary and $.14 per share
fully diluted for each of the quarter and six months ended Dec. 31,
1994) of insurance proceeds received on the death of the former
chairman.

CONTACT: Aeroflex Incorporated

Michael Gorin, 516/694-6700