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ACME ELECTRIC CORPORATION ANNOUNCES 1993 RESULTS

 EAST AURORA, N.Y., Aug. 23 /PRNewswire/ -- Acme Electric Corporation (NYSE: ACE) announced today that, for its fiscal year ended June 30, 1993, net sales were $75,812,000, compared to $72,715,000 for the previous year, with a loss of $673,000 before the cumulative effect of a change in accounting policy, or $.14 per share. A favorable change in accounting policy of $219,000 resulted in a net loss of $454,000, or $.09 per share, compared to a net profit of $624,000, or $.13 per share for the previous year.
 Chairman and Chief Executive Officer G. Wayne Hawk, said that, "Weakness in the military and commercial airline markets, and reduced orders from our licensor for industrial FNC batteries, caused losses in our aerospace operations. However, our standard transformer and commercial electronics businesses performed well. Recent actions to improve our aerospace operations, including management realignment and overhead reductions, combined with continued improvement in our other businesses, will strengthen earnings in 1994."
 Founded in 1917, Acme Electric Corporation is a leader in the design and manufacture of power conversion equipment for electronic and electrical systems for industrial, commercial, residential, and military and aerospace applications. Corporate headquarters are in East Aurora, with operations in Cuba, N.Y., Lumberton, N.C., Tempe, Ariz., and West Jordan, Utah.
 ACME ELECTRIC CORPORATION
 Comparative Analysis
 Periods Ended Year 13 Weeks
 June 30 1993 1992 1993 1992
 Net sales $75,812,000 $72,715,000 $18,755,000 $19,043,000
 Inc. (loss) bef.
 cumulative effect
 of a change in
 acctg. principle (673,000) 624,000 (460,000) 57,000
 Cumulative effect of
 a change in acctg.
 principle 219,000 -- -- --
 Net income (loss) (454,000) 624,000 (460,000) 57,000
 Earns. (loss) per share
 bef. effect of a
 change in acctg.
 principle $(.14) $.13 $(.09) $.01
 Cumulative effect of
 a change in acctg.
 principle .05 -- -- --
 Earns. (loss) per shr. $(.09) $.13 $(.09) $.01
 Weighted no. of shrs.
 outstanding used to
 compute inc. per
 common share 4,812,429 4,777,473 4,844,178 4,789,099
 -0- 8/23/93
 /CONTACT: David Anderson of Acme Electric, 716-655-3800/
 (ACE)


CO: Acme Electric Corporation ST: New York IN: CPR SU: ERN

TS-PS -- NY013 -- 4964 08/23/93 09:58 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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