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HALIFAX RELEASES YEAR-END RESULTS

 HALIFAX RELEASES YEAR-END RESULTS
 ALEXANDRIA, Va., June 12 /PRNewswire/ -- Halifax Corporation


(AMEX: HX) today reported financial results for its fiscal year ended March 31, 1992. Net income for the year was $707,000, or 59 cents per share, on revenues of $34,133,000. This compares with the previous year's net income of $1,066,000, or 89 cents per share, on revenues of $30,023,000.
 President Howard Mills stated, "Although the company was unable to achieve the previous year's record pretax income, due largely to a disappointing 5 cents per share for the third quarter, the 18 cents per share for the fourth quarter re-establishes an upward trend in earnings."
 Halifax is an electronic services and facilities support company for government and industry.
 Results for the year are as follows:
 HALIFAX CORPORATION
 Year Ending March 31, 1992 1991
 Revenues $34,133,000 $30,023,000
 Operating costs and expenses:
 Cost of services 30,200,000 25,368,000
 Selling, general & administrative
 expenses 2,427,000 2,204,000
 Total operating costs and expenses 32,627,000 27,572,000
 Operating income 1,506,000 2,451,000
 Other (income) and expense (133,000) 143,000
 Interest expense 489,000 572,000
 Income before income taxes 1,150,000 1,736,000
 Income taxes 443,000 670,000
 Net income $ 707,000 $ 1,066,000
 Net income per common share $ 0.59 $ 0.89
 Weighted average number of common
 shares outstanding 1,192,529 1,192,429
 -0- 6/12/92
 /CONTACT: Richard J. Smithson of Halifax, 703-750-2202/
 (HX) CO: Halifax Corporation ST: Virginia IN: SU: ERN


TW -- DC005 -- 9561 06/12/92 09:28 EDT
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Publication:PR Newswire
Date:Jun 12, 1992
Words:277
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