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PIONEER-STANDARD SEES RECORD SALES AND EARNINGS

 PIONEER-STANDARD SEES RECORD SALES AND EARNINGS
 CLEVELAND, July 1 /PRNewswire/ -- Pioneer-Standard Electronics,


Inc. (NASDAQ: PIOS) is experiencing strengthened demand for industrial electronic components, computer and peripheral systems products, and will have record sales and earnings for the fiscal first quarter ended yesterday (June 30), Preston Heller Jr., chairman, told a group of security analysts here today.
 Heller, in a presentation to members of the Cleveland Society of Security Analysts, said that Pioneer-Standard sales for the fiscal first quarter were about $102 million, up 17 percent over the $87.2 million of last year's fiscal first quarter and nine percent greater than $93.4 million of the fiscal 1992 third period, the previous quarterly record.
 He said current year first quarter earnings would surpass the $1.6 million, or 30 cents per primary share, of the year-ago period by a "substantial margin and are expected to be an all-time high for a quarter." The company's existing quarterly earnings record was set in the first quarter of fiscal 1991 with earnings of $2.4 million, or 45 cents per primary share (40 cents fully diluted).
 "What is particularly encouraging," Heller said, "is that we have reversed the trend in declining gross margins which began in the second quarter of fiscal 1992."
 He said the improvement in margins reflected a shift in product mix to higher margin transactions which he said was strongly supported by the company's marketing strategies.
 He said Pioneer-Standard was benefiting from a combination of record sales of semiconductors and computer systems products which he attributed to a strong emphasis on technical support of customers.
 He reported that the company's 50 percent owned affiliate, Pioneer/Technologies Group, Inc., had very strong sales in the first quarter with the result that the combined sales of Pioneer-Standard and its affiliate will be a record $168 million, up 30 percent over the $128.9 million of last year's first quarter. For financial reporting purposes, sales of Pioneer/Technologies are not consolidated with those of Pioneer-Standard, although half of the affiliate's net earnings are.
 Heller said that despite continuing expenses associated with Pioneer-Standard's expansion in California, he expected first quarter results also would benefit from effective expense containment measures. He told the security analysts that the California expansion, which involves a significant enlargement of the sales and technical staffs, was right on schedule in terms of sales and personnel.
 Heller's presentation was in conjunction with a tour by the security analysts of Pioneer's new $7.6 million, 106,000 square foot Corporate Distribution Center.
 Pioneer-Standard and its affiliate market a broad range of electronic components and computer products through 38 locations and serve most of the nation's major markets.
 -0- 7/1/92
 /CONTACT: John V. Goodger of Pioneer-Standard Electronics, Inc., 216-587-3600/
 (PIOS) CO: Pioneer-Standard Electronics, Inc. ST: Ohio IN: CPR SU:


KK -- CL019 -- 5795 07/01/92 14:22 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
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