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KNOGO CORPORATION REPORTS FISCAL 1992 RESULTS

 KNOGO CORPORATION REPORTS FISCAL 1992 RESULTS
 HAUPPAUGE, N.Y., May 29 /PRNewswire/ -- Knogo Corporation


(NYSE: KNO) today announced results for its 1992 fiscal year and fourth quarter ended Feb. 29, 1992.
 For the year, revenues were $80,695,000, slightly ahead of last year's revenues of $80,005,000. A net loss for fiscal 1992 of $14,177,000, or $2.70 per share, was reported, primarily reflecting charges taken in the third fiscal quarter for restructuring (approximately $10 million) and changing market conditions including additional bad debt reserves and certain other selling, general and administrative expenses. Earnings for the fiscal year ended Feb. 28, 1991 were $1,491,000, or 28 cents per share.
 For the fourth fiscal quarter, revenues were $20,849,000, 4 percent above last year's fourth quarter revenues of $20,030,000. There was a net loss for the fiscal 1992 fourth quarter of $337,000, or 6 cents per share, due to increased tax provisions and foreign exchange losses in the quarter. Earnings were $5,000 in the fourth quarter of fiscal 1991.
 As a result of the restructuring and other charges, the company did not meet certain covenants in its revolving credit/term loan agreements. These covenants have been waived for the third and fourth quarters, and the agreements amended.
 In commenting on the year's results, Arthur J. Minasy, chairman and chief executive officer, said, "We have gotten our house in order this year. We have addressed our residual problems and have put ourself in a position to compete effectively in our markets. Our balance sheet is strong with over $59 million in equity supporting less than $33 million in debt. We also generated in excess of $3 million in cash during the year, even though we sold fewer leases to leasing companies.
 "Looking forward to fiscal 1993, we anticipate a year of steady improvement. Our bookings are about on budget and are 12 percent ahead of the same period of fiscal 1992."
 Knogo Corporation, founder of the Electronic Article Surveillance (EAS) industry in 1966, is the world's technological leader in the design and manufacture of asset protection systems for retailers and industry. Its Radio Frequency (RF) and Micro-Magnetic (MM) systems protect retail merchandise and business assets. Other products include Knogo's Data Displayer and Surveillor Closed Circuit Video Systems (CCVS), which protect retailers against theft by recording point-of-sale transactions and through video surveillance.
 KNOGO CORPORATION
 Consolidated Financial Highlights
 (000's omitted, except per share data)
 Periods eneded Three Months Fiscal year
 2/28/92 2/29/91 2/28/92 2/29/91
 Total revenues $20,849 $20,030 $80,695 $80,005
 Operating profit (loss) 485 743 (10,910) 4,997
 Income (loss) before
 income taxes (2) (203) (13,554) 1,920
 Net income (loss) (337) 5 (14,177) 1,491
 Net income (loss) per share (.06) -- (2.70) .28
 Weighted average
 common shares 5,265,221 5,377,286 5,259,874 5,292,856
 -0- 5/29/92
 /CONTACT: Robert T. Abbott of Knogo, 516-232-2100, or 800-645-4224/
 (KNO) CO: Knogo Corporation ST: New York IN: SU: ERN


AH-TQ -- NY056 -- 5309 05/29/92 16:23 EDT
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Publication:PR Newswire
Date:May 29, 1992
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