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MTS SYSTEMS CORPORATION REPORTS PRELIMINARY UNAUDITED RESULTS FOR FISCAL 1992: ORDERS AND BACKLOG UP, EARNINGS DOWN

 EDEN PRAIRIE, Minn., Nov. 24 ~PRNewswire~ -- MTS Systems Corporation (NASDAQ: MTSC) reported preliminary unaudited results for its fourth quarter and fiscal year ended Sept. 30, 1992.
 For the quarter, incoming orders were $65 million, revenue was $50 million, and earnings are estimated to be $.41 per share, down 62 percent from the prior year's quarter.
 Donald M. Sullivan, president and CEO, said that the fourth quarter's earning were suppressed by a drop in revenue due to timing of incoming orders, low gross margins due to cost overruns on certain custom projects and a less favorable revenue mix, and employee separation costs associated with involuntary terminations and voluntary early retirements.
 For the year, incoming orders were $180 million, revenue was $161 million and earnings were estimated to be $1.05 per share, down 53 percent from the prior year.
 MTS ended the year with a backlog of $99 million, up 20 percent from the previous year. Sullivan said the company expects a substantial increase in revenue and a sharp rebound in earnings in 1993.
 Sullivan said the preliminary unaudited numbers were being released at this time because the company wanted to make this disclosure as soon as it became apparent that earnings would be well below the company's projection made at the end of the third quarter. He said audited results and further details would be available within two weeks.
 MTS Systems Corporation manufactures computer based systems for determining the mechanical behavior or materials, products and structures; and measurement and automation instrumentation for manufacturing processes.
 -0- 11~24~92
 ~CONTACT: Donald M. Sullivan, president, 612-937-4111, or Marshall L. Carpenter, vice president, 612-937-4008, both of MTS Systems~
 (MTSC)


CO: MTS Systems Corporation ST: Minnesota IN: CPR SU: ERP

AL -- MN024 -- 3857 11~24~92 18:02 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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