Bolt announces second quarter results.

NORWALK, Conn.--(BUSINESS WIRE)--Jan. 13, 1997--Bolt Technology Corporation (AMEX:BTJ) today reported the results of operations for the second quarter and first six months of fiscal 1997.

The company reported that revenues and net income for the three months ended Dec. 31, 1996, amounted to $2,353,000 and $472,000, respectively, as compared to revenues of $1,777,000 and net income of $210,000 in last year's second quarter.

For the six months ended Dec. 31, 1996, revenues and net income amounted to $4,671,000 and $865,000, respectively, as compared to revenues of $3,906,000 and net income of $464,000 during the corresponding six months last year.

The company said that the 125 percent increase in this second quarter's net income over last year's second quarter and the 86 percent increase in this year's first six months' net income over last year's first six months has resulted from the continuing high shipments of its proprietary marine Seismic Energy Sources. Bolt's Seismic Energy Sources are used in the off-shore seismic exploration for oil and gas and are the most widely used seismic energy sources in the world.

             Bolt Technology Corp. Financial Summary

                       Quarter ended             Six months ended
                          Dec. 31,                   Dec. 31,
                      1996        1995          1996         1995

Revenues           $2,353,000   $1,777,000   $4,671,000   $3,906,000
Net income            472,000      210,000      865,000      464,000
Per share income        $0.09        $0.04       $0.17         $0.09
Average shares
 outstanding        5,181,000    4,971,000    5,165,000    4,971,000

CONTACT: Bolt Technology Corp.

Alan Levy, 203-853-0700