Maxwell Laboratories Inc. announces fourth-quarter and fiscal 1995 results.

SAN DIEGO--(BUSINESS WIRE)--Sept. 28, 1995--Maxwell Laboratories Inc. (NMS:MXWL) Thursday announced its fourth quarter and fiscal 1995 results for the period ended July 31.

Sales for the fourth quarter were $21,988,000 compared with $22,248,000 in the same period a year ago. The company posted a profit of $219,000, or 8 cents per share, vs. a net loss of $1,324,000, or 49 cents per share in the fourth quarter last year.

Fiscal 1995 sales were $75,004,000, resulting in net income of $315,000, or 12 cents per share. Sales last year were $85,463,000, with a loss of $1,687,000, or 63 cents per share. Results for the third and fourth quarters last year included write-offs and other one-time charges at the Balboa division totaling approximately $3 million.

According to Dr. Alan C. Kolb, president and chief executive officer: ``We believe that the actions taken over the past two years to bring costs in line with revenues, and the refocus on efforts to bring a select number of our newer technology applications to the commercial marketplace, are strongly linked to creating a stable platform with growth opportunities.

``During the past year, that platform was ably supported by I-Bus, our contract R&D work and PurePulse Technologies.

``I-Bus, a leader in the marketplace for customized real-time commercial and industrial personal computer CPUs and enclosures for OEM applications, has grown at an annual compound rate of 28 percent. Our contract R&D business -- largely defense -- generated approximately $30 million of profitable sales despite a sharp decline over the past few years.

``Finally, even though it is still an emerging operation, PurePulse Technologies contributed significantly to 1995 profits.''

Kolb added: ``Building on the strengths that were evident in the past year, we are looking forward to an expansion of our existing commercial sales base and an increase in both sales and earnings in 1996. We also anticipate continued positive developments with our new product applications that will take them closer to commercial sales.''

Maxwell Laboratories, based in San Diego, is an advanced scientific and computer-based information systems and services company. Maxwell is also a leading developer and manufacturer of high energy, pulsed-power components and systems for defense and commercial markets such as food processing and packaging, mining, health care and transportation.

Further, the company designs and manufactures integrated PC systems for real-time commercial and industrial applications. -0-

                     Maxwell Laboratories Inc.
      Summary of Results -- Consolidated Statement of Income

                             Year Ended            Year Ended
                           July 31, 1995         July 31, 1994

Sales                      $ 75,004,000          $ 85,463,000
Net income (loss)          $    315,000          $ (1,687,000)
Average shares outstanding    2,678,000             2,675,000
Primary earnings (loss)
 per share                     12 cents             (63 cents)
-0-

                           Quarter Ended         Quarter Ended
                           July 31, 1995         July 31, 1994

Sales                      $ 21,988,000          $ 22,248,000
Net income (loss)          $    219,000          $ (1,324,000)
Average shares outstanding    2,681,000             2,675,000
Primary earnings (loss)
 per share                      8 cents             (49 cents)

CONTACT: Maxwell Laboratories Inc., San Diego

Gary Davidson, 619/576-7557