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WEDCO TECHNOLOGY, INC. REPORTS SHARPLY HIGHER RESULTS FOR THE SECOND QUARTER AND SIX MONTHS

 WEDCO TECHNOLOGY, INC. REPORTS SHARPLY HIGHER RESULTS
 FOR THE SECOND QUARTER AND SIX MONTHS
 BLOOMSBURY, N.J., Oct. 29 /PRNewswire/ -- Wedco Technology, Inc. (NASDAQ-NMS: WEDC), a major provider of custom processing services and related machinery for the plastics industry, has reported strong gains in revenues and earnings for the second quarter and six months ended Sept. 30, 1992.
 Second quarter net income rose 22 percent to $464,000 from $380,000 for the same period of the prior year. Earnings per share increased 15 percent to 15 cents from 13 cents in the second quarter of 1991. Revenues increased 19 percent to $8,732,000 from $7,359,000 for the like period of the prior year.
 Six-month net income was up 63 percent to $1,133,000 from $697,000 in the first half of 1991. Earnings per share for the half year increased 61 percent to 37 cents from 23 cents for the prior year's first half. Revenues increased 17 percent to $16,927,000 from $14,411,000 for the initial six months of last year.
 "The results for the year to date reflect strong performances of our North American and European operations and our joint ventures in Canada and France," W.E. Willoughby, chairman, noted. "The gains are testimony to the success of our aggressive program of investing in facilities and joint ventures during the past four years. Our growth goals for the fiscal year ending 3/31/93 calling for increases of 35 percent in net income and 15 percent in revenues now appear to have been conservative," he added.
 WEDCO TECHNOLOGY, INC.
 Financial Highlights (Unaudited)
 Three months ended Sept. 30 1992 1991
 Net revenues $8,732,000 $7,359,000
 Operating income 791,000 827,000
 Equity in joint ventures 163,000 134,000
 Income before income taxes 561,000 575,000
 Net income 464,000 380,000
 Earnings per share $.15 $.13
 Average shares outstanding 3,092,000 3,029,000
 Six months ended Sept. 30 1992 1991
 Net revenues $16,927,000 $14,411,000
 Operating income 1,996,000 1,652,000
 Equity in joint ventures 399,000 251,000
 Income before income taxes 1,670,000 1,068,000
 Net income 1,133,000 697,000
 Earnings per share $.37 $.23
 Average shares outstanding 3,090,000 3,035,000
 /delval/
 -0- 10/29/92
 /CONTACT: Robert F. Bush, controller of Wedco Technology, 908-479-4181/
 (WEDC) CO: Wedco Technology, Inc. ST: New Jersey IN: MAC SU: ERN


MK-MP -- PH007 -- 6436 10/29/92 09:28 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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