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QUIXOTE CORP. ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS

 QUIXOTE CORP. ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS
 CHICAGO, April 23 /PRNewswire/ -- Quixote Corp. (NASDAQ: QUIX) today reported sales and earnings for its third quarter and nine months ending March 31, 1992.
 For the three months ending March 31, 1992, Quixote achieved a 22 percent increase in sales. Sales were $29,714,000, compared to sales of $24,392,000 for the same quarter a year earlier.
 Net earnings for the third quarter ending March 31, 1992 were $876,000 compared to a loss of $2,522,000 for the same quarter last year. Primary earnings per share were 11 cents versus a loss of 34 cents for the same quarter a year earlier. Last year's loss was attributable to the integration of a competitor purchased by Stenograph Corp., a factor which is no longer applicable.
 For the first nine months of its fiscal year, Quixote has achieved a 16 percent increase in sales. Sales were $92,986,000, compared to sales of $80,339,000 for the same period last year. For the nine month period, net earnings were $5,872,000 compared to a loss of $1,492,000 for the comparable nine months last year. Primary earnings per share were 76 cents versus a loss of 20 cents for the same period last year.
 Disc Manufacturing Inc., one of Quixote's three subsidiaries, continued to post strong sales and earnings which were a significant increase over the same quarter a year ago. Stenograph Corp. reported increased sales and an improved performance over the comparable quarter. Sales and earnings at Energy Absorption Systems Inc. were substantially the same as the comparable quarter, reflecting the fact that it is taking time for the states to begin to obligate funds available to them under the $150 billion six-year federal aid highway bill passed last December.
 "We are pleased to report our fourth consecutive quarter of improved performance over comparable quarters," Philip E. Rollhaus Jr., Quixote's president, said. "We are particularly encouraged by the company's results this quarter since our third quarter is historically our weakest one, just as our fourth quarter historically has been our strongest one. Disc Manufacturing Inc.'s strong performance continues and reflects that the market for music compact discs and CD-ROMS has continued to increase in spite of the recession. Stenograph Corp. introduced its new line of Stentura writing machines in January which is being well received and was a contributing factor to Stenograph's increased sales. We believe that our highway safety subsidiary, Energy Absorption Systems Inc., will benefit in the coming months as the states begin to take advantage of the federal funding available to them from the new highway bill.
 "We intend to continue our stated strategy of strengthening and expanding our three core businesses. We are pleased with the results to date. Our ongoing goal is to generate meaningful returns for our stockholders from an increasing market valuation that reflects our current earnings momentum," Rollhaus concluded.
 Quixote Corp. is a diversified technology company composed of Energy Absorption Systems Inc., the world's leading manufacturer of a wide range of highway crash cushions; Stenograph Corp., the world's leading manufacturer of shorthand machines and computer systems for the court reporting profession, as well as litigation support software for the legal profession, and Disc Manufacturing Inc., one of the leading manufacturers of compact discs (CDs) and CD-ROMs in the United States.
 QUIXOTE CORP.
 Periods ended: Three months Nine Months
 March 31: 1992 1991 1992 1991
 Net sales $29,714,000 $24,392,000 $92,986,000 $80,339,000
 Earnings (loss)
 before income
 taxes 1,592,000 (3,076,000) 10,676,000 (1,492,000)
 Provision (benefit)
 for income taxes 716,000 (554,000) 4,804,000 --
 Net earnings
 (loss) 876,000 (2,522,000) 5,872,000 (1,492,000)
 Net earnings (loss)
 per common and
 common equivalent
 share:
 Primary $.11 $(.34) $.76 $(.20)
 Fully diluted .11 (.34) .74 (.20)
 Average primary
 shares outstanding 7,773,817 7,327,137 7,713,482 7,324,740
 -0- 4/23/92
 /CONTACT: James H. DeVries or Joan R. Riley of Quixote Corp., 312-467-6755/
 (QUIX) CO: Quixote Corporation ST: Illinois IN: SU: ERN


TS -- NY014 -- 1642 04/23/92 08:17 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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