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BEI ELECTRONICS REPORTS FISCAL FIRST-QUARTER RESULTS

 SAN FRANCISCO, Jan. 29 /PRNewswire/ -- BEI Electronics, Inc. (NASDAQ: BEII), today reported earnings per share of $.11 for its first quarter of fiscal 1993 ended Jan. 2, 1993, a decline from the $.15 per share in the comparable period a year ago. Net income was $711,000 versus $1,016,000 in the same period last year. Sales totaled $32.3 million as compared with $34.0 million in the first quarter of fiscal 1992.
 Peter G. Paraskos, president and chief executive officer, said: "The decline in earnings for the quarter reflects the impact of defense budget reductions and of economic uncertainties on our Sensors & Systems business, and our continued investment in building a Medical Systems business. Specifically, the sales of Systron Donner Inertial Division quartz products were affected by the completion of the one-year production contract for the Maverick quartz rate sensors. Our Motion Systems business was also affected by reduced shipments of encoders under government contracts as compared with the same period a year ago. Some of our customers in the industrial sector have been affected by the slower economic growth. An improving economy should result in increased capital expenditures in the industrial sector and opportunities for improvement in our business. Sales declines in our quartz component products and encoders were partially offset by increased Defense Systems shipments.
 "Within our Defense Systems segment, the outlook is generally positive both domestically and internationally for cost-effective tactical weapons, such as the HYDRA-70 Rocket System," Paraskos added. "Our Defense backlog is strong and we should see shipment levels improve for fiscal 1993.
 "While our operations are being affected by both the slower economy and a decline in defense budget procurement programs, we are working to regain forward momentum for the full year. BEI Electronics has continued to make substantial investment in developing its medical products business and new commercial applications for its proprietary technology. We think this investment in our future, although penalizing current earnings, is prudent and consistent with our diversification strategy," Paraskos said.
 BEI is strategically focused on three business areas: Sensors & Components, Systems and Defense. It is a leader in the development, manufacture and marketing of motion control systems and components, quartz rate sensors, quartz accelerometers, inertial measurement systems, precision potentiometers, pressure transducers, high- performance fluid controls and systems, and electronic systems for use in aerospace, commercial, industrial, medical and military applications, as well as the sole supplier of the HYDRA 70 tactical ordnance system.
 The company conducts operations through BEI Motion Systems Company, BEI Systron Donner Inertial Division, BEI Sensors & Controls Group, BEI Medical Systems Company and BEI Defense Systems Company. It has major operations in Arkansas, California, Massachusetts, New Jersey and Texas.
 BEI ELECTRONICS, INC.
 (Amounts in thousands, except per share figures)
 Quarter ended 1/2/93 12/28/91 Percent Change
 Net sales $32,261 $34,025 (5.2)
 Income before income taxes 1,056 1,660 (36.4)
 Net income $ 711 $ 1,016 (30.0)
 Earnings per common share $0.11 $0.15 (26.7)
 Weighted average common
 shares outstanding 6,724 6,852 (1.9)
 -0- 1/29/93
 /CONTACT: Larry Parrish, vice president and CFO of BEI Electronics, 415-956-4477/
 (BEII)


CO: BEI Electronics, Inc. ST: California IN: CPR SU: ERN

GK-LR -- NY010 -- 0628 01/29/93 09:22 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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