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EG&G FIRST QUARTER EARNINGS UP 6 PERCENT

 WELLESLEY, Mass., April 27 /PRNewswire/ -- EG&G, Inc. (NYSE: EGG) announced today that earnings per share before accounting changes rose 6 percent to 34 cents for the first quarter of 1993. This compared with 32 cents per share last year. After accounting changes, there was a net loss of 2 cents per share in 1993. Income before accounting changes increased to $19.1 million compared with $18.1 million for the first quarter of 1992. In the first quarter the corporation adopted new accounting standards to account for postretirement benefits and income taxes. The combined effect of these accounting changes reduced net income by $20.5 million or 36 cents per share. These actions do not affect the cash flow or fundamental operations of the corporation and are not expected to have any significant impact on financial results in future years.
 The Technical Services segment performed exceedingly well this quarter with income from operations 66 percent ahead of first quarter 1992 due to increases in our automotive testing business. The Components segment benefited from improved performance in our sealing, blower, and optoelectronics businesses. The results of the Aerospace and Defense segments were in line with expectations.
 The results for the Instruments segment reflect timing issues associated with deliveries, the uncertainty in the present economy, and generally slow market conditions. Nonetheless, we do expect performance to improve during the remaining three quarters. The Department of Energy Support segment continues to perform well even though there was a decline in income year to year. The first quarter of 1992 had a favorable profit adjustment due to performance grades higher than anticipated at year-end 1991.
 EG&G is a Fortune 200 company with annual sales in excess of $2.7 billion. It designs and manufactures laboratory and field-test instruments and electronic and mechanical components for commercial customers. EG&G provides systems engineering, precision component manufacturing, and test-site operating and management services to many government agencies and laboratories. It employs more than 30,000 people worldwide.
 EG&G, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (in thousands except per share data)
 First Quarter Ended
 4/4/93 3/29/92
 Sales $648,926 $654,828
 Costs and expenses:
 Cost of sales 562,433 572,602
 Selling, general and
 administrative expenses 57,111 54,992
 Total costs and expenses 619,544 627,594
 Income from operations 29,382 27,234
 Other income (expense), net (650) (441)
 Income before income taxes 28,732 26,793
 Provision for federal and
 non-U.S. income taxes 9,625 8,735
 Income before cummulative
 effects of accounting changes 19,107 18,058
 Cumulative effects of
 accounting changes:
 Income taxes (7,300) ---
 Postretirement benefits
 other than pensions (13,200) ---
 Net income (loss) $(1,393) $18,058
 Earnings per share:
 Income before cumulative
 effects of accounting
 changes 34 cents 32 cents
 Cumulative effects of
 accounting changes:
 Income taxes (13 cents) ---
 Postretirement benefits
 other than pensions (23 cents) ---
 Net income (loss) (2 cents) 32 cents
 Weighted average shares of
 common stock outstanding 56,722 56,563
 ----
 NOTE: All figures are subject to year-end audit.
 Sales and Income From Operations By Industry Segment
 (In thousands)
 First Quarter Ended
 4/4/93 3/29/92
 Sales:
 Instruments $47,222 $50,420
 Components 79,618 59,874
 Technical Services 96,530 88,580
 Aerospace 24,170 27,868
 Defense 66,927 62,340
 Department of Energy Support 334,459 365,746
 Total $648,926 $654,828
 Income from Operations:
 Instruments $945 $2,394
 Components 3,158 2,330
 Technical Services 11,246 6,761
 Aerospace 1,393 1,442
 Defense 5,060 4,144
 Department of Energy Support 14,614 17,220
 General Corporate Expenses (7,034) (7,057)
 Total $29,382 $27,234
 ----
 NOTE: All figures shown are subject to year-end audit.
 -0- 4/27/93
 /CONTACT: Deborah S. Lorenz of EG&G, Inc., 617-431-4306/
 (EGG)


CO: EG&G, Inc. ST: Massachusetts IN: SU: ERN

DD -- NE009 -- 1135 04/27/93 08:30 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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