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RADIATION SYSTEMS ANNOUNCES RESULTS FOR YEAR AND QUARTER ENDED JUNE 30, 1992; RECORD EARNINGS EXCEEDED COMPANY'S GOALS

 RADIATION SYSTEMS ANNOUNCES RESULTS FOR YEAR AND QUARTER
 ENDED JUNE 30, 1992; RECORD EARNINGS EXCEEDED COMPANY'S GOALS
 STERLING, Va., Aug. 24 /PRNewswire/ Radiation Systems, Inc. (NASDAQ-NMS: RADS), today announced results for its fiscal year and fourth quarter ended June 30, 1992. For the third consecutive year, the company established new records for annual sales, net income and earnings per share.
 For the year, the company reported net income of $10.6 million, or $1.27 per share, both of which are 26 percent greater than 1991 net income of $8.4 million, or $1.01 per share. Sales for the year increased by 10 percent from $115.5 million in 1991 to $127.1 million in 1992. The company said that in its 1992 fourth quarter it earned $3.0 million, or 36 percent share, on sales of $30.2 million, vs. year earlier earnings of $2.5 million, or 30 percent share, on sales of $35.9 million.
 Company Chairman and Chief Executive Officer Richard E. Thomas said that the increase in net income exceeded the company's own goals and attributed the improvement to the company's ability to control costs while revenues increased which resulted in increased operating margins from 11.7 percent to 13.2 percent. He said, however, that the company's revenues were less than it expected and cited delays in the award of several large contracts as the reason. The contract delays also were cited by the company as the reason why its backlog on June 30, 1992, was $143.7 million versus $169.1 million at June 30, 1991, and $155.6 million at March 31, 1992. The company has subsequently reported a $20 million increase in backlog from its acquisition of the contracts of JTP Radiation, Inc.
 "As we have previously said, contracts not awarded in fiscal 1992 will be awarded in early 1993 and will contribute to strong bookings in the year ahead, Thomas said. He noted that the company had not lost any significant contracts and that "beginning 1993 with backlog at 113 percent of our record 1992 sales places us in good position for growth in the year ahead."
 Radiation Systems, Inc., designs, manufactures and installs a broad range of antenna turnkey systems for radar, air traffic control, tactical military, satellite earth stations, terrestrial microwave and other specialized uses throughout the world.
 RADIATION SYSTEMS
 Comparative Highlights
 (In thousands, except per share amounts and percentages)
 (Unaudited) (Audited)
 Three Months Ended Year End,
 June 30, June 30,
 Pct. Pct.
 1992 1991 change 1992 1991 change
 Sales $30,156 $35,928 (16) $127,136 $115,519 10
 Earnings
 Before Tax 4,680 4,066 15 16,919 13,526 25
 Income Taxes 1,721 1,570 10 6,334 5,157 23
 Net Earnings 2,959 2,496 19 10,585 8,369 26
 Earnings
 Per Share 0.36 0.30 20 1.27 1.01 26
 Average and
 Equivalent Shares
 Outstanding 8,359 8,303 8,365 8,256
 Investment Income
 Net of Interest
 Expense (Pretax) 29 88 164 (32)
 Operating Margin
 (Pretax) 15.4 pct. 11.1 pct 13.2 pct. 11.7 pct.
 Effective
 Tax Rate 36.8 pct. 38.6 pct. 37.4 pct. 38.1 pct.
 Net Earnings
 as a Percent
 of Sales 9.8 pct. 6.9 pct. 8.3 pct. 7.2 pct.
 Earnings per share for 1991 have been adjusted to reflect the three for two stock split on Nov. 22, 1991.
 -0- 8/24/92
 /CONTACT: Richard E. Thomas, chairman and CEO, or Mark D. Funston, chief financial office, Radiation Systems, 703-450-5680; or Douglas Poretz, Corporate PR, 703-506-1778, for Radiation Systems/
 (RADS) CO: Radiation Systems, Inc. ST: Virginia IN: CPR SU: ERN


MH-TW -- DC008 -- 2554 08/24/92 11:32 EDT
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Date:Aug 24, 1992
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