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ELDEC ANNOUNCES THIRD-QUARTER EARNINGS

 LYNNWOOD, Wash., Jan. 28 /PRNewswire/ -- ELDEC Corp. (NASDAQ: ELDC) reported a third-quarter earnings per share of 13 cents for the quarter ended Dec. 27, 1992. For the same quarter last year, there was a loss per share of 10 cents. Sales for the quarter were up -- $27.5 million, compared to $25.8 million last year. Net income was $731,000, versus a loss of $560,000 last year.
 For the nine months, net earnings per share were 36 cents, compared to a loss per share of 33 cents the prior year. Net earnings included 12 cents a share as the result of an accounting change in the first quarter. Earnings from operations were 24 cents a share. Sales for the year to date are $81.5 million, compared to $81.2 million last year. Net income was $2.0 million, versus a net loss last year of $1.8 million.
 According to Chief Executive Officer Max Gellert, this year's improved performance reflected a significant reduction in costs.
 "It appears that our concerted effort to improve productivity is beginning to show results," Gellert noted.
 The total backlog is $150.4 million. At this time last year, it was $154.3 million. The amount to be shipped within 12 months is $76.6 million, compared to $86.6 million last year. While lower than last year, the total backlog is $7 million higher than the backlog at the end of the second quarter, reflecting strong bookings in November and December in the company's Power Conversion Division.
 ELDEC custom designs and manufactures electronic and electromechanical systems for aerospace and defense applications. Founded in 1957, the company is a subcontractor to a large number of major aerospace and defense electronics contractors.
 ELDEC CORP.
 FINANCIAL HIGHLIGHTS(A)
 (In thousands, except share amounts)
 Three Months
 Ended: Dec. 27, Dec. 29,
 1992 1991
 Sales $27,488 $25,788
 Net income (loss) $ 731 $ (560)
 Net earnings (loss) per share $ 0.13 $ (0.10)
 Common and common equivalent shares
 outstanding (weighted avg.) 5,620,541 5,556,096
 ELDEC CORP.
 FINANCIAL HIGHLIGHTS continued(A)
 (In thousands, except share amounts)
 Nine Months
 Ended: Dec. 27, Dec. 29,
 1992 1991
 Sales $81,485 $81,163
 Income (loss):
 Continuing operations $ 1,327 $(1,723)
 Extraordinary expense on
 prepayment of debt -- $ (105)
 Cumulative effect of
 accounting change $ 673 $ --
 Net income (loss) $ 2,000 $(1,828)
 Earnings (loss) per share:
 Continuing operations $ 0.24 $ (0.31)
 Extraordinary expense -- $ (0.02)
 Accounting change $ 0.12 --
 Net earnings $ 0.36 $ (0.33)
 Common and common equivalent
 shares outstanding
 (weighted avg.) 5,606,065 5,541,846
 NOTE (A): Full financial statements available on request.
 -0- 1/28/93
 /CONTACT: Max Gellert, chief executive officer, 206-743-8200, or Thomas K. Brown, president, 206-743-8205, both of ELDEC/
 (ELDC)


CO: ELDEC Corp. ST: Washington IN: ARO SU: ERN

SW -- SE001 -- 0252 01/28/93 12:13 EST
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Date:Jan 28, 1993
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