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RADIATION SYSTEMS, INC. ANNOUNCES RESULTS FOR FISCAL 1994 FIRST QUARTER

 STERLING, Va., Nov. 3 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS), today reported net earnings of $2,388,000 (29 cents per share) for the three months ended Sept. 30, 1993, a decline of 7 percent from net earnings of $2,569,000 (31 cents per share) in the first quarter of last fiscal year. Sales for the first quarter were $26.8 million compared to $32.5 million in the last fiscal year.
 The company attributed the decline in sales to continued delays in the potential award of several international contracts. In addition, net earnings include a favorable cumulative effect adjustment of $377,000 (5 cents per share) from the adoption of Statement of Financial Accounting Standard No. 109, "Accounting for Income Taxes," which was required to be implemented this quarter.
 Total backlog of unfilled orders on Sept. 30, 1993, was $130.8 million compared to a backlog of $131.1 on June 30, 1993, and $148.7 million on Sept. 30, 1992.
 Richard E. Thomas, chairman and chief executive officer of Radiation Systems, said that the company's number one priority is to significantly increase its backlog and that all corporate and division officers in management and marketing have been directed to extend every effort necessary to conclude contract discussions and negotiations with potential customers. Thomas also said that never before has the worldwide demand for telecommunications infrastructure been at such a high level. He noted, however, that competition is fierce and the programs take significant time from the initial inquiries to final contract award.
 Radiation Systems, Inc. designs, manufactures and installs a broad range of antenna turnkey systems and components for radar, air traffic control, tactical military, satellite communications, wireless and other specialized uses throughout the world.
 Radiation Systems, Inc.
 Comparative Highlights
 (Unaudited)
 (In thousands, except per share amounts and percentages)
 Three Months Ended
 Sept. 30,
 1993 1992 Pct. Change
 Sales $26,801 $32,459 (17)
 Earnings Before Taxes and
 Accounting Change 3,198 4,084 (22)
 Income Taxes 1,187 1,515 (22)
 Earnings Before Accounting Change 2,011 2,569 (22)
 Cumulative Effect of Change in
 Accounting for Income Taxes 377 -- N/A
 Net Earnings 2,388 2,569 (7)
 Earnings per Share 0.29 0.31 (6)
 Average and Equivalent Shares
 Outstanding During the Period 8,288 8,360 --
 Investment Income, Net of
 Interest Expense (Pretax) (104) 44 --
 Operating Margins (Pretax) 12.3 pct. 12.4 pct. --
 Effective Tax Rate 37.1 pct. 37.1 pct. --
 Net Earnings as a Percent of Sales 8.9 pct. 7.9 pct. --
 -0- 11/3/93 R
 /CONTACT: Richard E. Thomas, chairman and CEO, or Mark D. Funston, chief financial officer, 703-450-5680, or Douglas Poretz of corporate PR, 703-506-1778, all of Radiation Systems/
 (RADS)


CO: Radiation Systems, Inc. ST: Virginia IN: CPR SU: ERN

OP -- DC007R -- 0259 11/03/93 15:38 EST
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Publication:PR Newswire
Date:Nov 3, 1993
Words:474
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