Barringer Technologies Inc. reports final 1994 results.

NEW PROVIDENCE, N.J.--(BUSINESS WIRE)--April 18, 1995--Barringer Technologies Inc. (NASDAQ:BARR, BARRW) today announced its final unaudited results for the fourth quarter of 1994 and its final audited results for the year ended Dec. 31, 1994 (in 000's except per share data).

Net loss for the fourth quarter was $2,507,000, or 22 cents per share, on sales of $1,766,000 vs. a net profit of $134,000, or 1 cent per share, on sales of $3,479,000 for the same period last year. For the year ended Dec. 31, 1994, the company recorded a net loss of $2,565,000, or 24 cents per share, on sales of $11,455,000 compared to a net profit of $595,000, or 5 cents per share, on sales of $13,280,000 for 1993.

Previously, the company had reported preliminary results showing a net loss of $2,667,000, or 24 cents per share, on sales of $1,590,000 for the fourth quarter of 1994, and a net loss of $2,373,000, or 22 cents per share, on sales of $11,944,000 for the year. In connection with the preparation of the company's audited financial statements for 1994, the company reduced its sales $665,000 in the aggregate, which sales had been recorded during the second and third quarters. The company will be restating its financial results for the quarters ended June 30, 1994 and Sept. 30, 1994 to reflect that change.

The company also disclosed that the report of its independent certified public accountants on the company's 1994 financial statements contains an explanatory paragraph relating to the company's ability to continue as a going concern in light of substantial loss incurred by the company in 1994 and the resultant cash flow impact. The company is addressing these concerns by, among other things, negotiating to sell its interest in Barringer Laboratories Inc., its 47% owned subsidiary, and seeking to raise capital through the private offering of its debt and/or equity securities.

Barringer Technologies Inc., is a holding company with two operating groups. Barringer Instruments develops, manufactures and markets specialty analytical instruments for drugs and explosives detection, exploration and environmental monitoring applications. Barringer Laboratories Inc. (OTC Symbol:BALB), which is 47% owned by the company, provides analytical services for the environmental and mineral industries. -0-

                    First Quarter Ended      Year Ended
                         Dec. 31,               Dec. 31,
                       1994     1993        1994      1993

Sales                $ 1,766   $ 3,479    $ 11,455  $ 13,280
Net income (loss)     (2,507)      134      (2,565)      595
Per share data         (0.22)     0.01       (0.24)     0.05
Preferred dividends       27        29         108       114
Weighted average shares
 outstanding          11,414    10,692      11,306    10,281

CONTACT: Stanley Binder or Richard S. Rosenfeld,

908/665-8200