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SI HANDLING SYSTEMS DECLARES 10-CENT CASH DIVIDEND; REPORTS EARNINGS FOR FISCAL 1992

 SI HANDLING SYSTEMS DECLARES 10-CENT CASH DIVIDEND;
 REPORTS EARNINGS FOR FISCAL 1992
 EASTON, Pa., May 6 /PRNewswire/ -- The board of directors of SI Handling Systems, Inc. (NASDAQ: SIHS), traded on the Additional Over- the-Counter Exchange under the trading symbol "SIHS," declared at its meeting of May, 6, 1992, a 10-cent cash dividend payable on June 1, 1992, to stockholders of record on May 18.
 Directors will continue to review the dividend policy annually at the company's year-end.
 SI Handling Systems also reported the following:
 Fiscal year ended March 1, 1992 March 3, 1991
 Sales $20,840,000 $18,035,000
 Earnings before income taxes 1,445,000 116,000
 Income taxes 208,000 ---
 Net earnings 1,237,000 $116,000
 Net earnings per share(A) $.76 $.07
 (A) On Oct. 9, 1991, the board of directors declared a 10 percent stock dividend payable on Nov. 4, 1991, to shareholders of record on Oct. 21. Earnings per share reflect the 10 percent stock dividend and are based on the weighted average number of shares outstanding and equivalent shares from dilutive stock options and warrants.
 The company's net earnings for fiscal 1992 were $1,237,000 compared to net earnings of $116,000 for fiscal 1991. Net sales of $20,840,000 for fiscal 1992 increased 15.6 percent compared to net sales of $18,035,000 for fiscal 1991. The sales increase in 1992 was due to a significant amount of progress accomplished during the year on several large Cartrac orders received early in the first half of fiscal 1992. SI Handling also experienced success in the Order Selection product line as a result of the health and beauty aid market's increasing utilization of productivity improvement technology.
 In fiscal 1992, the company utilized the remainder of its tax-loss carryforwards to partially reduce its federal taxable income. The tax provision of $208,000 recorded in fiscal 1992 consisted of currently payable federal and state income taxes of $574,000, net of a deferred federal tax benefit of $366,000. In fiscal 1991 no income tax expense was recorded because of the availability of tax-loss carryforwards.
 SI Handling's backlog of orders at March 1, 1992, and March 3, 1991, was $8,170,000 and $6,708,000 respectively. The company said it remains optimistic that fiscal 1993 will show continued profitable operating results and it looks forward to successfully serving the North American marketplace with its enhanced automated materials handling capabilities including those of the recently acquired BT Systems, Inc., renamed as SI Systems, Inc., and operating as a wholly owned subsidiary of SI Handling Systems, Inc.
 /delval/
 -0- 5/6/92
 /CONTACT: Leonard S. Yurkovic, president and chief executive officer of SI Handling Systems, 215-252-7321/
 (SIHS) CO: SI Handling Systems, Inc. ST: Pennsylvania IN: SU: ERN DIV


CC-JS -- PH047 -- 7337 05/06/92 18:01 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:474
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