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CALIFORNIA AMPLIFIER REPORTS SECOND-QUARTER AND SIX-MONTH RESULTS

 CAMARILLO, Calif., Sept. 13 /PRNewswire/ -- California Amplifier Inc. (NASDAQ: CAMP) today reported results for its fiscal 1994 second- quarter and six-month period ended Aug. 28, 1993. Revenue for the second quarter increased 21 percent to $10,183,000, up from the $8,393,000 reported for the second quarter in fiscal 1993. Second quarter 1994 net income was $544,000, or 10 cents per share, compared to $838,000, or 17 cents per share, in the same quarter a year ago. Fully diluted weighted average shares outstanding for the quarter increased 11 percent to 5,588,000 compared to 5,040,000 shares in the second quarter of fiscal 1993.
 Revenue for the first six months of fiscal 1994 increased 13 percent to $18,756,000, up from the $16,653,000 reported for the six-month period in fiscal 1993. First half 1994 net income was $1,084,000, or 20 cents per share, compared to $1,592,000, or 32 cents per share, in the first half last year.
 Commenting on the results, Barry W. Hall, chairman and chief executive officer, said, "Our company continues to build its reputation in worldwide markets for satellite and wireless cable television components and subsystems. To gain this reputation, we made significant investments during the first half of fiscal 1994 to increase quality control processes. These investments resulted in production delays and, thus, negatively impacted revenue and gross margins.
 "I am please to report that most of the manufacturing difficulties experienced during the first half of the year have now been corrected. Furthermore, wireless cable sales were 34 percent of total revenue, up significantly from the 12 percent wireless cable represented during the second quarter of fiscal 1993. This is further indication that the worldwide market for wireless cable products continues to grow," concluded Hall.
 California Amplifier designs, manufactures and market components and a broad line of amplifiers, downconverters and integrated subsystems used in the distribution of television signals. Applications of these products include commercial satellite earth stations, home satellite dishes and wireless cable systems.
 CALIFORNIA AMPLIFIER INC.
 Statements of Earnings
 (Unaudited; in thousands, except per share data)
 3 Months Ended 6 Months Ended
 Aug. 29, Aug. 28, Aug. 29, Aug. 28,
 1992 1993 1992 1993
 Sales $8,393 $10,183 $16,653 $18,756
 Cost of sales 4,972 7,142 9,994 12,869
 Gross profit 3,421 3,041 6,659 5,887
 Research and
 development 349 411 631 863
 Selling 930 868 1,649 1,700
 General and
 administrative 854 797 1,841 1,589
 Earnings from operations 1,288 965 2,538 1,735
 Interest and other
 expenses 54 174 91 170
 Provision for income
 taxes 396 247 855 481
 Net earnings $ 838 $ 544 $ 1,592 $ 1,084
 Net earnings per
 share $ 0.17 $ 0.10 $ 0.32 $ 0.20
 Weighted average number
 of shares outstanding 5,040 5,588 5,028 5,478
 -0- 9/13/93
 /CONTACT: Barry Hall of California Amplifier, 805-987-9000; or Doug Sherk or Ken Dennard, 415-296-7383, or Miriam Adler, 212-850-5631, all of Morgen-Walke for California Amplifier/
 (CAMP)


CO: California Amplifier Inc. ST: California IN: SU: ERN

TM-LH -- SF001 -- 1436 09/13/93 16:10 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
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