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MAGNETECH CORPORATION REVENUES, EARNINGS CONTINUE TO CLIMB

 FORT LAUDERDALE, Fla., Oct. 19 /PRNewswire/ -- MagneTech Corporation (NASDAQ: TAPE) announced revenues for the first fiscal quarter ended Sept. 30, 1993 were up 128 percent to $6,698,616 vs. $2,928,790 in 1992. Net income more than tripled to $354,481 or 7 cents per share vs. $100,014 or 2 cents per share in 1992. Management expects revenues and earnings to continue at a record pace for the remainder of the year.
 MAGNETECH CORPORATION
 1st Quarter Ended
 Sept. 30,
 1993 1992
 Sales $ 6,698,616 $ 2,928,790
 Income Before Taxes 552,281 149,507
 Provision for Taxes 197,800 49,453
 Net Income $ 354,481 $ 100,014
 Per Share $ .07 $ .02
 -0- 10/19/93
 /CONTACT: Donald E. Courtney of MagneTech Corporation, 305-835-2214/
 (TAPE)


CO: MagneTech Corporation ST: Florida IN: SU: ERN

RK-JB -- FL007 -- 3792 10/19/93 09:16 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
Words:145
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