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SPECIAL DEVICES INC. ANNOUNCES FIRST QUARTER 1992 EARNINGS

 SPECIAL DEVICES INC. ANNOUNCES FIRST QUARTER 1992 EARNINGS
 NEWHALL, Calif., June 8 /PRNewswire/ -- Special Devices Inc. (NASDAQ-SDII) announced the results of operations for its second quarter ended April 26, 1992.
 Net sales for the three and six months ended April 26, 1992 were $7,036,000 and $13,518,000, as compared to $7,452,000 and $11,939,000 for the same periods in 1991. Net sales for the three and six months ended April 28, 1991 included approximately $1,352,000 and $2,712,000 of Aerospace Division shipments that were delayed from 1990 which increased the revenues in the 1991 periods. Net sales, after adjusting for the delayed shipments into the 1991 periods, increased for the three- and six-month periods of 1992. This is primarily because of an increase in Automotive Products Division shipment volumes and the timing of Aerospace Division shipments during 1992 as compared to 1991.
 Net income for the three and six months ended April 26, 1992 was $302,000, or $0.05 per share, and $485,000, or $0.08 per share, as compared to net income, after proforma income tax adjustment, of $506,000, or $0.12 per share, and $600,000 or $0.14 per share, for the comparable 1991 periods. The decreases in earnings per share are due to the greater number of shares of common stock outstanding during the 1992 periods as a result of the public offering in August 1991 and the impact of additional gross margin and net profit realized on the Aerospace Division shipments delayed from 1990 into 1991.
 The company is a leader in the design and manufacture of highly reliable pyrotechnic devices used by the aerospace industry, primarily in tactical missile systems, and by the automotive industry as initiators in airbag systems.
 SPECIAL DEVICES INC.
 Summary Financial Information
 (In thousands, except per share data)
 Three Months Ended Six Months Ended
 April 26, April 28, April 26, April 28,
 1992 1991 1992 1991
 Net Sales:
 Aerospace $4,287 6,228 8,370 9,995
 Automotive 2,749 1,224 5,148 1,944
 Total $7,036 7,452 13,518 11,939
 Gross Profit:
 Aerospace $1,233 1,970 2,194 2,875
 Automotive 96 (473) 69 (627)
 Total $1,329 1,497 2,263 2,248
 Operating Income:
 Aerospace $843 1,574 1,529 2,120
 Automotive (338) (692) (723) (1,038)
 Total $505 882 801 1,082
 Net income after
 proforma income tax
 adjustment $302 506 485 600
 Net income per share
 after proforma income
 tax adjustment $.05 .12 .08 .14
 Weighted average
 common shares
 outstanding 5,759 4,155 5,759 4,155
 -0- 6/8/92
 /CONTACT: Robert W. Benson, VP-finance and CFO of Special Devices Inc, 805-259-0753/
 (SDII) CO: Special Devices Inc. ST: California IN: ARO SU: ERN


EH-KJ -- LA009 -- 7737 06/08/92 08:36 EDT
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Date:Jun 8, 1992
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