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RADIATION SYSTEMS ANNOUNCES RESULTS

 STERLING, Va.. Jan. 28 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS), today announced the results of the three-month period ended Dec. 31, 1992, the second quarter of the company's 1993 fiscal year.
 Because of the damage caused by the previously announced tornado which temporarily shut down operations at the company's Largo, Fla., facility on Oct. 3, 1992, sales were down from $31.5 million to $29.3 million. Business interruption insurance offset the loss of earnings which resulted from the reduced sales at the Largo operation, but decreased revenues from the company's more profitable small aperture satellite antenna systems business led to a decrease in net income from $2.6 million last year, or 31 cents per share, to $2.3 million, or 27 cents per share. The company said that it estimates that if the plant were operating normally, revenues would have been up modestly, with slightly lower overall operating margin percentages. The company expects that operations will continue to be impacted by the tornado damage in the third quarter, however, steady progress is being made to restore full capacity.
 "This continues to be a frustrating time for our company," said Chairman and Chief Executive Officer Richard E. Thomas. "We have more bids outstanding than ever before. Significant new business opportunities are on the horizon for all segments of our business both government and commercial, but the contracts simply haven't been consummated. These delays are attributable to uncertainties associated with economic conditions and not cancellations of anticipated projects. We simply have to wait for the business to come, continue to market aggressively, and keep the infrastructure in place so that we are prepared to handle the business when it comes.
 "We are confident that good news relating to bookings is ahead for us," Thomas said, "but the slowdown in new orders is likely to exert pressure on our sales and earnings in the coming quarters. Consequently, we are prepared to quickly translate new bookings into revenues.
 The company said it booked $22.7 million in new orders during the period. Backlog at Dec. 31, 1992, was $142.1 million compared to $148.7 million at Sept. 30, 1992, and $143.7 million at June 30, 1992. Consequently, total backlog additions through the first six months trailed sales by only $1.6 million.
 For the six months the company had total revenues of $61.8 million versus $65.2 million last year. Net income for the first half was $4.8 million, or 58 cents per share, vs. $5.0 million, or 60 cents per share last year.
 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, terrestrial microwave and other specialized uses throughout the world.
 COMPARATIVE HIGHLIGHTS
 (Unaudited)
 (In thousands, except per share amounts and percentages)
 Three Months Ended Six Months Ended
 Dec. 31 Dec. 31
 1992 1991 Pct. 1992 1991 Pct.
 change change
 Sales $29,294 $31,525 (7) $61,753 $65,181 (5)
 Earnings
 Before Tax 3,629 4,097 (11) 7,713 8,132 (5)
 Income Taxes (1,378) (1,471) (6) (2,893) (3,095) (7)
 Net Earnings 2,251 2,626 (14) 4,820 5,037 (4)
 Earnings
 Per Share $0.27 $0.31 (13) $0.58 $0.60 (3)
 Average and
 Equivalent
 Shares
 Outstanding
 During the
 Period 8,368 8,375 8,364 8,356
 Investment
 Income
 Net of
 Interest
 Expense
 (Pretax) (46) 107 (2) 139
 Operating
 Margins
 (Pretax) 12.5 pct. 12.7 pct. 12.5 pct. 12.3 pct.
 Effective
 Tax Rate 38.0 pct. 35.9 pct. 37.5 pct. 38.1 pct.
 Net Earnings
 as a Percent
 of Sales 7.7 pct. 8.3 pct. 7.8 pct. 7.7 pct.
 -0- 1/28/93
 /CONTACT: Richard E. Thomas, chairman and CEO; Mark D. Funston, chief financial officer, Radiation Systems, 703-450-5680; or Douglas Poretz, corporate PR, 703-506-1778/
 (RADS)


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

DS -- DC005 -- 0054 01/28/93 08:48 EST
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Date:Jan 28, 1993
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