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SHELDAHL ANNOUNCES THIRD QUARTER RESULTS

 SHELDAHL ANNOUNCES THIRD QUARTER RESULTS
 NORTHFIELD, Minn., June 12 /PRNewswire/ -- Sheldahl, Inc.


(NASDAQ: SHEL) announced today sales of $21.4 million for the third quarter of fiscal 1992. Demand for material and interconnect products to customers serving the automotive and data com markets fueled a 12 percent increase in sales revenue when compared to Sheldahl's second quarter. Automotive sales continue strong, growing at a rate of 35 percent above one year ago. Results from continuing operations for the period was a profit of $387,000 or $.08 per share compared to a net loss of $279,000 and $.06 per share last quarter. Increased output by the new advanced manufacturing facility contributed to the significant rise in earnings. Improved earnings and working capital utilization resulted in a debt reduction of $2.1 million during the quarter.
 Year-to-date net income for fiscal 1992 totals $441,000 and $.09 per share, compared to $3,082,000 and $.66 per share one year ago. As reported last quarter, year-to-date earnings decline is due to lower total sales and start-up costs of new facilities taken as period expenses.
 Sales for 1992 are expected to be $84.5 million, reflecting a Quarter IV revenue consistent with Quarter III, with the possibility of additional increases as domestic auto production increases. Earnings per share is expected to be $.20 for fiscal 1992.
 Sheldahl, Inc. develops, manufactures and sells materials, special fabrications and flexible interconnects for electronic markets. Its focus is to serve the needs of its customers in the automotive, aerospace/defense, data communications, consumer and materials markets. The company common stock is traded on the National Over-The-Counter market under the NASDAQ symbol: SHEL.
 SHELDAHL, INC. AND SUBSIDIARY
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 (In thousands except per-share data)
 Three Months Ended
 5/29/92 5/31/91
 Net sales $21,417 $22,745
 Cost of sales 17,018 17,647
 Gross profit 4,399 5,098
 Expenses:
 Sales and marketing 2,013 1,877
 General and administrative 1,041 1,129
 Research and development 626 493
 Interest 332 250
 Total expenses 4,012 3,749
 Income from continuing operations
 before income taxes 387 1,349
 Provision for income taxes -- --
 Net income $387 $1,349
 Net income per share $.08 $.28
 SHELDAHL, INC. AND SUBSIDIARY
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 (In thousands except per-share data)
 Nine Months Ended
 5/29/92 5/31/91
 Net sales $62,838 $64,753
 Cost of sales 51,210 50,161
 Gross profit 11,628 14,592
 Expenses:
 Sales and marketing 5,543 4,988
 General and administrative 2,981 3,160
 Research and development 1,583 1,356
 Interest 1,080 943
 Total expenses 11,187 10,447
 Income from continuing operations
 before income taxes 441 4,145
 Provision for income taxes -- (1,063)
 Income from continuing operations 441 3,082
 Loss from discontinued operations -- (11,459)
 Cumulative effect of change in
 accounting for income taxes -- 571
 Net income (loss) $441 $(7,806)
 Income and loss per share:
 Continuing operations $.09 $.66
 Discontinued operations -- $(2.44)
 Cumulative effect of accounting change -- $.12
 Net income (loss) per share $.09 $(1.66)
 SHELDAHL, INC. AND SUBSIDIARY
 CONSOLIDATED BALANCE SHEETS
 (Unaudited)
 (In thousands)
 ASSETS
 5/29/92 8/30/91
 Current assets:
 Cash $547 $595
 Accounts receivable, net 10,881 12,620
 Inventories 10,959 11,413
 Prepaid expenses and other current
 assets 661 1,238
 Net assets of discontinued operations 777 3,655
 Total current assets 23,825 29,521
 Plant and equipment at cost 49,534 50,920
 Accumulated depreciation 29,834 29,597
 Net plant and equipment 19,700 21,323
 Other assets 598 636
 -- $44,123 $51,480
 LIABILITIES AND SHAREHOLDERS' INVESTMENT
 Current liabilities:
 Current maturities of long-term debt $7,888 $1,215
 Accounts payable 5,413 6,466
 Accrued salaries 1,519 2,002
 Other accrued liabilities 2,383 3,166
 Liabilities of discontinued operations 908 3,055
 Total current liabilities 18,111 15,904
 Long-term debt 4,530 14,322
 Other non-current liabilities 3,278 3,593
 Shareholders' investment:
 Common stock 1,193 1,185
 Additional paid-in capital 7,198 7,104
 Retained earnings 9,813 9,372
 Total shareholders' investment 18,204 17,661
 -- $44,123 $51,480
 -0- 6/12/92
 /CONTACT: John V. McManus of Sheldahl, 507-663-8000/
 (SHEL) CO: Sheldahl, Inc. ST: Minnesota IN: CPR SU: ERN


AL -- MN004 -- 9671 06/12/92 12:28 EDT
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Date:Jun 12, 1992
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