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KETEMA REPORTS THIRD QUARTER INCOME, ADOPTS REPURCHASE PROGRAM

 KETEMA REPORTS THIRD QUARTER INCOME, ADOPTS REPURCHASE PROGRAM
 BENSALEM, Pa., Jan. 8 /PRNewswire/ -- Ketema, Inc. (AMEX: KTM) reported today net income of $0.4 million, or 10 cents per share, for the third quarter of fiscal 1992, compared to net income of $1.6 million, or 41 cents per share (37 cents per share on a fully diluted basis), in the third quarter of the prior fiscal year.
 Sales in the third quarter of 1992 were $41.9 million, compared to $45.6 million in 1991.
 Through nine months, earnings totalled $2 million or 52 cents per share vs. a net loss of $1.4 million, or 33 cents per share, in the same period last year. The results for last year include a pre-tax charge of $5.8 million primarily for certain previously disclosed costs. Sales for the nine months of $129.5 million were less than the $145 million sales recorded for the same period last year.
 Robert L. Noland, president of the diversified manufacturer, commented, "The effects of the recession, particularly in the construction market, negatively impacted the results of the third quarter compared to last year. Sales and earnings at the Aluminum Extrusion division were substantially lower and delays and extensions of aerospace customer requirements at the Aerospace & Electronics division also reduced sales and earnings for the quarter. We anticipate that these factors will adversely affect Ketema's fourth quarter results."
 Ketema has adopted a program to purchase up to $5 million in the aggregate of its outstanding common stock and its 8 percent Convertible Subordinated Debentures Due 2003. Such purchases may be made from time to time in open market or privately negotiated transactions. Ketema currently has outstanding approximately 3.9 million shares of common stock and approximately $17 million in aggregate principal amount of 8 percent Convertible Subordinated Debentures Due 2003.
 KETEMA, INC.
 Three months ended Nov. 30 1991 1990
 Net sales $41,908,000 $45,568,000
 Operating income 786,000 2,196,000
 Income before income taxes 641,000 2,152,000
 Net income 385,000 1,636,000
 Earnings per share (A):
 Primary $.10 $.41
 Fully diluted --- $.37
 Average shares outstanding (A):
 Primary 3,932,302 4,030,837
 Fully diluted 5,055,537 5,154,072
 Nine months ended Nov. 30 1991 1990
 Net sales $129,457,000 $144,985,000
 Operating income 3,530,000 5,302,000
 Settlement charge (B) --- (5,841,000)
 Income (loss) before income taxes 3,385,000 (242,000)
 Net income (loss) (2,031,000) (1,379,000)
 Earnings (loss) per share (A) $.52 ($.33)
 Average shares outstanding (A) 3,932,302 4,168,641
 (A) There is no dilutive effect on per-share amounts for the nine- month periods ended Nov. 30, 1991 and 1990, and the three-month period ended Nov. 30, 1991, assuming the conversion of the debentures into additional shares of common stock.
 (B) Costs associated with settling claims assumed when spun off by Ametek, Inc.
 /delval/
 -0- 1/8/92
 /CONTACT: William H. Spencer of Ketema, 215-639-2255/
 (KTM) CO: Ketema, Inc. ST: Pennsylvania IN: SU: ERN


CC-MK -- PH018 -- 7796 01/08/92 12:39 EST
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Publication:PR Newswire
Date:Jan 8, 1992
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