BRIDGEPORT MACHINES REPORTS FIRST QUARTER RESULTS.

BRIDGEPORT, Conn.--(BUSINESS WIRE)--Aug. 1, 1995--Bridgeport Machines, Inc. (Nasdaq:BPTM) today reported results for the fiscal 1996 first quarter ended July 1, 1995.

Net sales in the first quarter of fiscal 1996 rose 40.0% to $47,273,000 compared with $33,754,000 in the first quarter of fiscal 1995. Net income increased 21.5% to $1,950,000, compared with $1,605,000 in the fiscal 1995 first quarter. On a per share basis, net income was $0.34 per share versus $0.39 in the same quarter last year, on 38.6% more average shares outstanding in the latest period due to the Company's initial public offering in November 1994.

The Company's strong growth in the first quarter was driven by increased international sales in Europe and Asia, which included a $1.5 million sale of machining centers to a tractor factory in China in April, 1995. International sales represented 41% of total sales in the first quarter compared with 33% of total sales in fiscal 1995. Domestic sales also increased, supported by strong levels of orders and continued favorable market demand. First quarter results also benefited from the successful U.S. introduction of the new TorqCut 22 machining center, and continued strong demand for the EZ-PATH Romi Bridgeport Lathe.

Gross margins in the first quarter were temporarily reduced by start up costs incurred for the newly acquired manufacturing facility in Kempten, Germany and expansion of the Leicester, England facilities to increase output. The Company noted that ramp up of production at the Kempten facility is on schedule and is expected to be completed by calendar year end. In addition, margins were also impacted by a shift in sales mix toward lower margin products.

The Company also noted its backlog increased to approximately $67 million compared with $64.5 million as of the fiscal year ended April 1, 1995. Dan L. Griffith, President and Chief Executive Officer, commented: "Our first quarter results benefited from continued strong worldwide demand and increased orders for our established products as well as the important contribution of the new TorqCut 22, a CNC machining center product successfully launched in the U.S. market in May, 1995. We expect these positive trends, complemented by additional new product introductions, to result in continued growth in fiscal 1996. In addition, earnings growth should further accelerate as we complete our capacity expansion by calendar year end and start up costs related to the new facilities are behind us."

Bridgeport Machines, Inc., founded in 1939, is a leading manufacturer of manual and computer numerically controlled (CNC) metal cutting machine tools in the United States and United Kingdom. The Company primarily focuses on standardized, general-purpose machine tools for small-to-medium sized machine shops throughout the United States and in 60 countries world-wide. The Company also manufactures and sells surface grinders under the Harig brand name and sells manual and CNC lathes under the ROMI and EZ-PATH brand names. -0-

                         BRIDGEPORT MACHINES, INC.
                            STATEMENT OF INCOME
                 (Amounts in thousands, except per share)

                                              QUARTER ENDED
                                          07/01/95      07/02/94

Net Sales                                 $ 47,273      $ 33,754
Cost of Sales                               35,846        24,851
Gross Profit                                11,427         8,903
Selling, General & Administrative Expense    7,479         5,867
Operating Income                             3,948         3,036
Other Income (Expense)                        (234)          115
Interest Income (Expense)                     (411)         (502)
Total Other                                   (645)         (387)
Income Before Income Taxes                   3,303         2,649
Provision for Income Taxes                   1,353         1,044
Net Income                                $  1,950      $  1,605
Primary Earnings per Share                $   0.34      $   0.39
Weighted Average Number of
  Shares Outstanding                         5,767         4,161

                        SELECTED BALANCE SHEET DATA
                               (In thousands)

                                    07/01/95    04/01/95

Total Current Assets                $ 86,573    $ 77,774
Total Assets                         108,780      88,394
Total Current Liabilities             53,663      34,964
Total Liabilities                     56,671      38,185
Total Stockholders' Equity            51,688      50,209

CONTACT: Bridgeport Machines, Inc., Bridgeport

Dan Griffith, [phone]

or

Morgen-Walke Associates, New York

Investor Contact:

June Filingeri, Cara Thompson

Media Contact: Stan Froelich

[phone]