Astro-Med Reports Second Quarter Results; Sales and Net Income Increase; Directors Declare Regular Cash Dividend.

Business Editors

WEST WARWICK, R.I.--(BUSINESS WIRE)--Aug. 20, 2002

Astro-Med, Inc. (NASDAQ:ALOT) reports sales of $12,922,000 with a net income of $156,000, equal to 4 cents per common share for the Second Quarter ending August 3, 2002.

For the corresponding period of the prior year, sales were $12,132,000 with a net loss of $194,000, equal to 5 cents per common share.

For the six-month period of the current fiscal year, sales were $24,304,000 with a net loss of $477,000, equal to 11 cents per common share. For the corresponding six-month period of the prior fiscal year, sales were $24,568,000 with a net loss of $44,000, equal to 1 cent per common share.

Mr. Albert W. Ondis, Chief Executive Officer, stated: "I am pleased to report Astro-Med's return to a profile of sales growth and profitability during our latest quarter. Domestic sales rose 6% and international sales grew 8% over the Second Quarter of the preceding year. We achieved double digit growth in both the Test & Measurement and QuickLabel(R) Systems Product Groups, driven by strong demand for the Company's new product offerings of the Dash 18 Recorder and the QLS 4100X Color Printer System. Sales of the Grass-Telefactor Product Group were below last year's Second Quarter, as hospitals continued to defer capital expenditures. However, we are very encouraged that sales of Grass-Telefactor's new Aurora(TM) sleep and EEG products increased 11% over last year's Second Quarter.

"We are also pleased that the Company's working capital management program achieved benchmark levels of asset utilization. In view of the current uncertain economic climate we will continue to maximize cash flow through continuous improvement in the management of working capital.

Several exciting new product introductions in Test & Measurement, QuickLabel Systems and Grass-Telefactor later this year will drive further sales growth in the second half of the current fiscal year."

On August 19, 2002, directors of Astro-Med, Inc. declared the regular quarterly cash dividend of 4 cents per common share, payable on October 3, 2002 to shareholders of record on September 13, 2002.

The Second Quarter Fiscal Year 2003 Conference Call will be held on Wednesday, August 21, 2002, at 11:00 AM EST. It will be broadcast in real time over the Internet. Access is simple through our website at www.astromed.com. We invite you to listen in on August 21st, or access the broadcast any time for up to 30 days following the event.

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications.

                            ASTRO-MED, INC.

                          Second Quarter          Six-Months Ended

                       August 3,   August 4,   August 3,   August 4,
                         2002        2001        2002        2001
                      ----------- ----------- ----------- ------------
Net Sales             $12,922,000 $12,132,000 $24,304,000 $24,568,000

Net Income (loss)        $156,000   ($194,000)  ($477,000)   ($44,000)

Basic Net Income
 (Loss) Per Share           $0.04      ($0.05)     ($0.11)     ($0.01)

Diluted Net Income
 (Loss) Per Share           $0.04      ($0.05)     ($0.11)     ($0.01)

Dividends Per Share         $0.04       $0.04       $0.08       $0.08

Weighted Average
 Common Shares          4,268,000   4,264,000   4,268,000   4,253,000
  Outstanding - Basic

Weighted Average
 Common Shares          4,297,000   4,264,000   4,268,000   4,253,000
 Outstanding - Diluted

Safe Harbor Statement

This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2002 annual report and its annual and quarterly filings with the Securities and Exchange Commission.