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OEA REPORTS RECORD THIRD QUARTER AND NINE MONTH RESULTS

 DENVER, June 9 /PRNewswire/ -- Ahmed D. Kafadar, chairman and chief executive officer of OEA Inc. (NYSE: OEA), the Denver-based, high- technology manufacturer of aerospace and automotive safety products, announced record sales and earnings for the third quarter and nine months ended April 30, 1993.
 Sales and earnings for the third quarter were $21,992,100 and $3,384,100, respectively, compared to $21,515,900 and $3,176,000 for the prior-year third quarter. Net earnings for the nine months were $10,417,600 on sales of $66,675,000, compared to net earnings of $9,960,600 on sales of $66,445,600 for the prior-year compar?iod. Earnings per share for the quarter were 17 cents compared to 16 cents per share for the fiscal year 1992 third quarter, with nine-month results of 51 cents per share compared to 49 cents for the first nine months of fiscal year 1992.
 Kafadar noted that the third quarter sales of automotive safety products were approximately 40 percent more than prior-year third quarter sales, with fourth quarter sales expected to be approximately 65 percent-70 percent higher than fiscal year 1992 fourth quarter sales.
 Further, while non-automotive/defense contracting sales decreased 13 percent during the nine months ended April 30, 1993, bookings of new orders exceeded prior-year nine months' bookings.
 Bookings of new orders exceeded $26 million during the third quarter, and included new orders for ignition cord and ITLX (patented energy transfer system) for passenger-side air bags. Backlog of unfilled orders at April 30, 1993, increased to $100 million, up from the $96 million reported a year earlier.
 OEA is a leader in the field of propellant and explosive-actuated devices used in (1) the personnel escape systems of military aircraft, missiles and for space application and (2) the automotive air bag.
 OEA INC.
 Financial Summary
 Three Months Ended
 April 30,
 1993 1992
 Net sales $21,992,100 $21,515,900
 Operating profit 5,349,100 5,023,800
 Earnings before income taxes 5,415,900 5,058,100
 Federal and state income taxes 2,031,800 1,882,100
 Net earnings 3,384,100 3,176,000
 Net earnings per share (note) $.17 $.16
 Average number of shares
 outstanding (note) 20,383,716 20,343,738
 Nine Months Ended
 April 30,
 1993 1992
 Net sales $66,675,000 $66,445,600
 Operating profit 16,402,300 15,625,600
 Earnings before income taxes 16,537,300 15,741,200
 Federal and state income taxes 6,119,700 5,780,600
 Net earnings 10,417,600 9,960,600
 Net earnings per share (note) $.51 $.49
 Average number of shares
 outstanding (note) 20,368,567 20,303,730
 Note: The reported earnings per share and average number of shares
 outstanding reflect the 200 percent stock dividend paid
 Feb. 14, 1992, to the shareholders of record at the close of
 business on Jan. 31, 1992.
 -0- 6/9/93
 /CONTACT: A. D. Kafadar, C. B. Kafadar or J. E. Banko of OEA, 303-693-1248/
 (OEA)


CO: OEA Inc. ST: Colorado IN: AUT ARO SU: ERN

BB -- DV003 -- 0100 06/09/93 10:55 EST
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Publication:PR Newswire
Date:Jun 9, 1993
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