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ACME ELECTRIC REPORTS SECOND-QUARTER RESULTS

 ACME ELECTRIC REPORTS SECOND-QUARTER RESULTS
 EAST AURORA, N.Y., Jan. 27 /PRNewswire/ -- Acme Electric Corporation


(NYSE: ACE) today reported results for its second quarter ended Dec. 27, 1991. Net sales were $18,173,000, compared with $21,070,000 for the comparable quarter ended Dec. 28, 1990. Net income was $131,000, or $.03 per share, compared with a net loss of $487,000, or $.10 cents per share, on higher sales during the comparable quarter of the prior fiscal year.
 Net sales for the 26-week period ended Dec. 27, 1991 were $37,551,000, compared with net sales of $41,742,000 for the 26-week period ended Dec. 28, 1990. Net income for the 26-week period ended Dec. 27, 1991 was $646,000, or $.14 per share, compared with a net loss of $676,000, or $.14 per share, for the comparable 26-week period of the prior year.
 G. Wayne Hawk, president and CEO, stated that the worst of the recession appears to have passed; however, recovery is occurring at a glacial pace.
 "Plans for disposal of our manufacturing facility in Cuba, N.Y., and building a new facility in the same area are proceeding with all deliberate speed. We can also report that, at this juncture, the reserves for consolidation of the Electronics Division, taken last June 30, as a charge against results for fiscal year 1991, appear consistent with the actual costs involved. As a result, no further charges are expected," Hawk stated.
 "We reported last quarter that our local banks, namely, Marine Midland, Fleet Norstar and Royal Bank of Canada, have cooperated with us fully. Since that time, Manufacturers and Traders Trust, also of Buffalo, N.Y., has agreed to join our banking group and we expect final documents for a new loan agreement to be completed soon," Hawk added.
 Founded in 1917, Acme Electric Corporation is a leader in the design and manufacture of power conversion equipment for electronic and electrical systems used in industrial, commercial, residential, 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.
 ACME ELECTRIC CORPORATION
 COMPARATIVE ANALYSIS
 Period ended 13 weeks 26 weeks
 12/27/91 12/28/90 12/27/91 12/28/90
 Net sales $18,173,000 $21,070,000 $37,551,000 $41,742,000
 Net income 131,000 (487,000) 646,000 (676,000)
 Earnings per share $.03 $(.10) $.14 $(.14)
 Weighted average
 number of shares
 outstanding 4,775,084 4,728,505 4,770,121 4,727,523
 -0- 1/27/92
 /CONTACT: David Anderson, 716-655-3800, or Mary Hamilton, 716-968-2400, both of Acme Electric/
 (ACE) CO: Acme Electric Corporation ST: New York IN: CPR SU: ERN


SH -- NY087 -- 3871 01/27/92 15:41 EST
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Publication:PR Newswire
Date:Jan 27, 1992
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