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QMC ANNOUNCES THIRD QUARTER FISCAL 1993 FINANCIAL RESULTS

 NEW ULM, Minn., April 27 /PRNewswire/ -- QMC Technologies, Inc. reported net sales and a net income for the third quarter and for nine months period of Fiscal 1993. Net sales in the third quarter and for the nine month period ended March 31, 1993 were $1,868,700 and $5,497,300, respectively. This compares to net sales of $1,664,400 and $5,234,400 for the same periods in fiscal 1992. Net income for the third quarter and the nine month period were $61,300 and $1,651,000, respectively. This compares to net income of $16,000 and $197,200 for the same period in fiscal 1992. The increase in net income for the third quarter period from fiscal 1992 to fiscal 1993 was primarily due to increased sales volume, cost-cutting measures and improved gross profit margins. The decrease in cumulative net income for the third quarter was primarily due to extraordinary gain from debt restructuring and reorganization recognized in fiscal 1992 that have not recurred in fiscal 1993.
 QMC Technologies, Inc., a public company, designs, manufactures and markets custom AC and DC motors, amplifiers and system applications for the motion control industry.
 QMC TECHNOLOGIES, INC.
 Condensed Statement of Operations
 (Unaudited)
 Three Months Ended Nine Months Ended
 3/31/93 3/31/92 3/31/93 3/31/92
 Net sales $1,868,700 $1,664,400 $5,497,000 $5,234,400
 Costs of sales
 and expenses 1,789,100 1,669,100 5,313,200 5,138,400
 Income before
 extraordinary gain
 and income tax
 expense 79,600 (4.7) 183,800 96,000
 Income taxes (expense) (18,300) 0 26,600 0
 Extraordinary gain items 0 20,700 7,900 101,200
 Net income $61,300 $16,000 $165,100 $197,200
 Net income per share 0.00 0.00 0.01 0.01
 Weighted average shares
 outstanding 18,995,825 18,995,825 18,995,825 18,995,825
 -0- 4/27/93
 /CONTACT: Brett D. Reese of QMC Technologies, 507-354-3105/


CO: QMC Technologies, Inc. ST: Minnesota IN: SU: ERN

AL -- MN023 -- 1545 04/27/93 15:54 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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