C.P. Clare announces fourth quarter and fiscal year end results.

BEVERLY, Mass.--(BUSINESS WIRE)--April 30, 1997--C.P. Clare Corporation (NASDAQ:CPCL), a recognized world leader in the communications components marketplace, announced today that earnings per share increased to $0.16 for the fourth quarter of fiscal 1997.

For the quarter ended March 30, 1997, net sales were $32.7 million compared with $33.2 million for the quarter ended March 31, 1996. The Company had net income of $1.5 million (income of $0.16 per share) compared with net income of $2.6 million (income of $0.27 per share) for the same period last year.

For the fiscal year ended March 30, 1997, net sales were flat at $128.2 million as compared with $127.9 million for the same period last year. Included in the operating results for fiscal year ended March 30, 1997, were a non-recurring restructuring charge of $14.25 million and a charge of $2.1 million for environmental remediation costs. Including these items, the Company had a net loss of $6.9 million (loss of $0.77 per share) for the fiscal year ended March 30, 1997, as compared with net income of $7.7 million (income of $0.95 per share) for last fiscal year. Excluding these items, the Company's net income would have been $7.1 million (income of $0.74 per share) for the fiscal year ended March 30, 1997.

"Fiscal 1997 was certainly a disappointing year for C.P. Clare and its shareholders. However, we believe that the difficult market conditions experienced in fiscal 1997 are behind us and that we have set in place the building blocks to move forward," said Arthur R. Buckland, President and Chief Executive Officer. "Our team has made progress in the execution of the restructuring announced during the fiscal year in order to position C.P. Clare appropriately as market conditions continue to improve."

C.P. Clare Corporation (NASDAQ:CPCL) is a leading provider of semiconductor and electromagnetic relays, switches, surge protection and specialized electronic components to the world's foremost manufacturers of electronic communication equipment. -0-

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements as defined under the federal securities laws. Actual results could differ materially from the information set forth herein and there is no assurance that any anticipated future results will be achieved.

CONSOLIDATED CONDENSED BALANCE SHEETS (dollars in thousands)

                                 March 30,     March 31,
                                 1997          1996
ASSETS
Current assets:
    Cash, cash equivalents and  $37,430     $  49,082
investments
    Accounts receivable, less    17,412        19,471
allowance for doubtful
accounts
    Inventories                  20,116        16,972
    Other current assets         3,832         2,938
          Total current assets   78,790        88,463
Property, plant and equipment,   28,976        24,232
net
Other assets                     3,432         4,001
          Total assets          $111,198    $  116,696

LIABILITIES AND STOCKHOLDERS'
EQUITY

Current liabilities             $27,565     $  22,426
Long-term debt, net of current   550           4,034
portion
Other long-term liabilities      1,817         3,624
          Total liabilities      29,932        30,084
Stockholders' equity             81,266        86,612
Total liabilities and           $111,198    $  116,696
stockholders' equity

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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (dollars in
thousands, except per share amounts)

                    Three Months Ended            Years  Ended

              Mar. 30, 1997  Mar. 31, 1996  Mar. 30, 1997  Mar. 31,1996

Net sales         $  32,730      $  33,224     $  128,161    $  127,928
Cost of sales        22,166         21,721         85,603        86,464
  Gross profit       10,564         11,503         42,558        41,464
Operating expenses:
  Selling, general
    and
    administrative(a) 6,487          6,342         28,330        23,857
  Research and
    development       1,968          1,390          6,543         4,447
  Restructuring costs     -              -         14,250             -
  Operating (loss)
    income            2,109          3,771         (6,565)       13,160
Interest income         293            467          1,578         1,052
Interest expense       (103)          (144)          (452)       (1,300)
Other income (expense),
  net                    92             64             (8)          (20)
  Income (loss) before
provision for income
  taxes               2,391          4,158         (5,447)       12,892
Provision for income
  taxes                 849          1,577          1,464         5,158
  Net income (loss)$  1,542       $  2,581      $  (6,911)     $  7,734
Net income (loss) per
  common and common
  share equivalent   $ 0.16         $ 0.27        $ (0.77)       $ 0.95
Weighted average
  number of common
  shares and common
  share equivalents
  outstanding     9,460,292      9,666,554      8,991,520     8,175,667

(a) Year ended March 30, 1997, includes $2,050 of environmental
remediation costs.

CONTACT: C.P. Clare Corporation

Robert M. Palladino

[phone]