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LXE ANNOUNCES SECOND QUARTER SALES AND EARNINGS INCREASES

 LXE ANNOUNCES SECOND QUARTER SALES AND EARNINGS INCREASES
 ATLANTA, July 20 /PRNewswire/ -- LXE Inc. (NASDAQ: LXEI) reported increases in sales and earnings for the quarter and six months ended June 30, compared with the same periods one year earlier.
 LXE's earnings increased 26 percent to $971,000 for the second quarter of 1992 from $773,000 for the second quarter of 1991. Earnings per share increased to $.17 per share for the 1992 second quarter, compared with $.14 for the 1991 second quarter. Net sales increased to $11.4 million for the second quarter of 1992, compared with $10.0 million for the second quarter in the prior year.
 Earnings for the first six months of 1992 were $1,841,000, an increase of 39 percent from $1,329,000 reported for the first six months of 1991. Earnings per share increased to $.32 per share for the first six months of 1992, compared with $.27 for the first six months of 1991. Net sales increased to $22.2 million for the first six months of 1992, compared with $17.7 million for the same period one year earlier.
 LXE Inc. is a leading supplier of wireless data communications systems to the materials handling market. Typical customers are medium and large companies that have substantial inventories or complex distribution networks. In April 1991, LXE completed its initial public offering of common stock, which trades in the Over-The-Counter market.
 LXE INC.
 Statements of Earnings
 (In thousands, except earnings per share)
 Qtr. ended 6 mos. ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Net sales $11,364 $10,029 22,197 17,732
 Cost of sales 4,685 4,716 9,374 8,323
 Gross profit 6,679 5,313 12,823 9,409
 Selling, general and
 administrative exp. 3,378 3,110 6,644 5,314
 Product development and
 engineering exp. 1,798 1,060 3,288 2,066
 Operating income 1,503 1,143 2,891 2,029
 Interest and other
 income 99 105 178 116
 Interest expense (56) --- (120) ---
 Earnings before income
 taxes 1,546 1,248 2,949 2,145
 Income taxes 575 475 1,108 816
 Net earnings $ 971 773 1,841 1,329
 Earnings per common
 and common equivalent
 share $ .17 $ .14 $ .32 $ .27
 Wtd. avg. number of
 common and common
 equivalent shares 5,804 5,546 5,831 4,973
 Summary Balance Sheet
 June 30, 1992
 (in thousands)
 Cash and Current liabilities $ 5,162
 investments $ 8,503 Long-term debt 3,282
 Accounts receivable 7,932 Other liabilities 557
 Inventories 7,204
 Net property, plant
 and equipment 10,272
 Other assets 796 Stockholders' equity 25,706
 Total $34,707 $34,707
 -0- 7/20/92
 /CONTACT: Don T. Scartz, treasurer of LXE, 404-447-4224, ext. 4850/
 (LXEI) CO: LXE Inc. ST: Georgia IN: CPR SU: ERN


BR-BN -- AT010 -- 0709 07/20/92 11:58 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
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