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THE ALPINE GROUP REPORTS FIRST QUARTER RESULTS

 NEW YORK, Sept. 13 /PRNewswire/ -- The Alpine Group, Inc. (AMEX: AGI) today reported financial results for the first quarter of fiscal 1994 ended July 31, 1993.
 For the quarter ended July 31, 1993, the company reported a loss of $224,000 or $0.02 per share on sales of $7,848,000, compared with a loss of $1,405,000 or $0.18 per share on sales of $8,673,000 for the quarter ended July 31, 1992. The decline in sales resulted from a reduction in defense related orders at the company's DNE Technologies, Inc. subsidiary, which was partially offset by an increase in orders from the commercial sector. The current quarter loss includes non-cash items of $557,000.
 Steven S. Elbaum, chairman and chief executive officer, stated, "Alpine's first quarter results reflect continued improvement in both the operations and financial structure of the company. Stockholders' equity increased to $10.9 million at July 31, 1993, and annual fixed charges were reduced as a result of convertible note and preferred stock conversions."
 Mr. Elbaum continued, "The planned merger of Alpine and Superior TeleTec Inc. is expected to be completed in October 1993, resulting in additional financial and operational resources becoming available to Alpine."
 The Alpine Group, Inc., is a holding company with continuing operations in information display and defense electronics and datacommunications businesses. Through its Alpine PolyVision, Inc. subsidiary, Alpine is developing PolyVision(TM), a proprietary flat panel display technology, for commercial applications in a wide variety of markets. Alpine's information display activities also include Posterloid Corporation, which manufactures and markets menuboard display systems to fast food and convenience store markets. A wholly owned subsidiary, DNE Technologies, Inc., specializes in the advanced design, development and production of datacommunications, avionics, printers and other components and systems for government and commercial markets.
 THE ALPINE GROUP, INC.
 Summary Income Statement
 (Dollars in thousands, except per share)
 Three months ended July 31 1993 1992
 Net sales from continuing operations $7,848 $ 8,673
 (Loss) from operations (177) (1,405)
 Extraordinary item:
 Net (loss) on extinguishment of debt (47) --
 Net income (loss) $ (224) $(1,405)
 Earnings (loss) per share
 of common stock:
 Net (loss) $(0.02) $(0.18)
 Average shares outstanding 10,776,433 8,400,198
 THE ALPINE GROUP, INC.
 Summary Balance Sheet
 (Dollars in thousands)
 7/31/93 4/30/93
 Current assets $14,081 $14,735
 Total assets 30,937 31,646
 Current liabilities 6,077 7,407
 Long-term debt,
 less current portion 13,976 13,637
 Stockholders' equity $10,884 $10,602
 -0- 9/13/93
 /CONTACT: June Filingeri or Bernie Kilkelly of Morgen-Walke Associates, 212-850-5600/
 (AGI)


CO: The Alpine Group, Inc. ST: New York IN: CPR SU: ERN

GK-SM -- NY005 -- 1074 09/13/93 07:30 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
Words:458
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