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BEI ELECTRONICS REPORTS 79 PERCENT EARNINGS INCREASE FOR FIRST QUARTER FISCAL 1992

 BEI ELECTRONICS REPORTS 79 PERCENT EARNINGS INCREASE
 FOR FIRST QUARTER FISCAL 1992
 SAN FRANCISCO, Jan. 23 /PRNewswire/ -- BEI Electronics Inc. (NASDAQ: BEII), a San Francisco-based diversified technology company, today reported a 79 percent increase in net income for the first quarter of fiscal 1992 ended Dec. 28, 1991.
 In making the announcement, Peter G. Paraskos, president and chief executive officer, said that sales increased 11 percent to $34,025,000 from $30,735,000 reported for the first quarter of fiscal 1991. Net income was $1,016,000, up 79 percent from the $568,000 posted in the same period of the prior year. Earnings per share were $0.15 in the first quarter of fiscal 1992 as compared to the $0.09 recorded in the first quarter of 1991.
 "The results for the first quarter of fiscal 1992 were due primarily to increased sales of defense systems products and initial shipments of BEI's new quartz rate sensors," Paraskos stated. "We are pleased that BEI's quartz sensor technology has now entered the marketplace. It represents a major advancement which could lead to the replacement of many existing sensors including electromechanical gyroscopes and accelerometers," he said. The technology also has application to micro-miniaturized inertial measurement units, Paraskos noted.
 "Shipments from BEI Defense Systems Co. of its HYDRA-70 rocket motors were not affected by technical and financial problems at U.S. Government-designated suppliers during the first quarter of fiscal 1992 as they were in the first quarter of fiscal 1991, resulting in stronger sales and earnings," Paraskos said. "The cost controls which the company implemented at the beginning of fiscal 1992 offset a slight decline in sales volume of BEI's sensors and motion control products caused by general economic conditions," he added.
 Another significant highlight of the first quarter, according to Paraskos, was the formation of BEI Medical Systems Co. The Medical Systems Co. will adapt BEI's core technologies to the medical, surgical and rehabilitation markets. The company will also be identifying appropriate acquisitions or specialty health care technology licensing opportunities that will enhance its business base.
 BEI designs, manufactures and markets motion control systems and components, rate sensors, accelerometers, inertial measurement systems, precision potentiometers, pressure transducers, high performance fluid controls and systems and electronic and ordinance systems for use in commercial, industrial, medical, military and aerospace applications. The company has major operations in California, Arkansas, Texas and Massachusetts. For fiscal 1991, BEI reported sales of $146 million.
 BEI ELECTRONICS INC.
 Earnings Release
 Jan. 23, 1992
 Quarter Ended Pct.
 Increase/
 Dec. 28, 1991 Dec. 29,1990 Decrease
 Net sales $34,025,000 $30,735,000 10.7
 Income before income taxes 1,660,000 953,000 74.2
 Net income 1,016,000 568,000 78.9
 Earnings per common share $0.15 $0.09 66.7
 No. of shares in computation 6,852,000 6,569,000 4.3
 -0- 1/23/92
 /CONTACT: Lawrence W. Parrish of BEI Electronics, 415-956-4477/
 (BEII) CO: BEI Electronics ST: California IN: CPR SU: ERN


RM -- SF001 -- 2630 01/23/92 09:02 EST
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Publication:PR Newswire
Date:Jan 23, 1992
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