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ACME ELECTRIC REPORTS FIRST QUARTER EARNINGS

 ACME ELECTRIC REPORTS FIRST QUARTER EARNINGS
 EAST AURORA, N.Y., Nov. 2 /PRNewswire/ -- Acme Electric Corporation


(NYSE: ACE) today reported sales and earnings for the first quarter ended Oct. 2, 1992. Earnings totalled $362,000, or $.08 per share, on 4,788,514 shares outstanding compared with $515,000, or $.11 per share, on 4,765,158 shares for the comparable quarter in the prior year. Results for the current period include $219,000, or $.05 per share, due to the cumulative effect of a change in accounting principle from adoption of Statement of Financial Accounting Standards Number 109, Accounting for Income Taxes.
 Sales for the first quarter rose to $20,384,000, compared with $17,956,000 for the first quarter of fiscal 1991.
 G. Wayne Hawk, chairman and CEO of Acme, attributed improved sales to growth at Acme Transformer Division located in Lumberton, N.C., Acme Electronics Division located in Cuba, N.Y., and Acme-URDC, Inc., located in West Jordan, Utah. Mr. Hawk also attributed lower earnings results to planned losses at Acme Advanced Energy Systems.
 "I further expect that Acme's performance for all of fiscal year 1993 will improve over last year," Mr. Hawk said. "Our consolidation has been successfully completed, and, with the start-up fiber nickel cadmium battery operation entering full production, losses will diminish as it progresses toward profitability.
 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, N.Y., with operations in Cuba, N.Y., Lumberton, N.C., Tempe, Ariz., and West Jordan, Utah.
 -0- 11/2/92
 /CONTACT: David Anderson of Acme Electric Corporation, 716-655-3800/
 (ACE) CO: Acme Electric Corporation ST: New York IN: SU: ERN


SH-LR -- NY010 -- 1415 11/02/92 09:23 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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