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METHODE ELECTRONICS, INC. SELLS ITS TRACE INSTRUMENTS SUBSIDIARY

 CHICAGO, Feb. 9 /PRNewswire/ -- Methode Electronics, Inc. (NASDAQ-NMS: METHB) today announced the sale of Trace Instruments, its bare board test equipment subsidiary, to Everett Charles Technologies, Inc. of Pomona, Calif.
 President William J. McGinley said, "Methode had previously announced its intention to sell Trace Instruments and provided for a loss on its disposal at April 30, 1992. As a result of the sale, Methode in the fourth quarter ending April 30, 1993, will reverse a portion of its reserve for discontinued operations and return to net income an amount equal to $.05 per share. The per share amount has been adjusted to reflect the Company's recent 100 percent stock dividend," McGinley concluded.
 -0- 2/9/93
 /EDITOR'S NOTE: Trace Instruments is located in Chatsworth, Calif./
 /CONTACT: Kevin Hayes, vice president and treasurer of Methode Electronics, 708-867-9600, or Eugene Lyman of E.W. Lyman Associates, 312-868-9800, for Methode Electronics/
 (METH)


CO: Methode Electronics, Inc. ST: Illinois IN: CPR SU: TNM

KD -- NY065 -- 4702 02/09/93 13:17 EST
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Publication:PR Newswire
Date:Feb 9, 1993
Words:168
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