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ACME ELECTRIC REPORTS THIRD-QUARTER RESULTS

 ACME ELECTRIC REPORTS THIRD-QUARTER RESULTS
 EAST AURORA, N.Y., May 6 /PRNewswire/ -- Acme Electric Corporation


(NYSE: ACE) today reported a reduced loss on lower sales for the third quarter ended March 27, 1992, compared with the results achieved for the same period of the prior fiscal year.
 The loss for the third quarter declined to $79,000, or two cents per share, from a loss of $864,000, or 19 cents per share, for the third quarter of the prior year. Sales for the third quarter were $18,231,000, compared with $19,848,000 for the third quarter of the 1991 fiscal year.
 Sales for the 39-week period ended March 27, 1992, including the now closed Salt Lake City, Utah, facility, were $55,781,000, compared with net sales of $61,590,000 for the comparable period ended March 29, 1991. Net income for the 39-week period was $567,500, or 12 cents per share, compared with the net loss of $1,540,000, or 33 cents per share, for the comparable period of the prior year.
 G. Wayne Hawk, president of Acme, noted that a contributing factor to the third-quarter loss was delay in installing electrode-plating equipment at Acme's fiber nickel cadmium battery operation. Acme was unable to procure adequate supplies of plated materials from other sources, and shipments were disrupted during January and February. The new plating facility will be operational by July 1, 1992 and will resolve this supply problem. Sufficient amounts of plated material are now on hand to meet requirements through the remainder of this fiscal year.
 Hawk went on to say that prospects for the fiber nickel cadmium battery product line continue to be bright. In addition to increasing sales of vented industrial batteries, Acme continues to progress toward volume production for a number of military and aerospace programs. The Apache AH-64 Longbow helicopter, with Acme-URDC chargers and FNC batteries, successfully completed its first test flight on April 15. In addition, work is continuing on batteries and chargers for the new Boeing 777 and the McDonnell Douglas MD-90.
 Hawk also stated that the company's markets strengthened in February and have continued to improve since then, enhancing Acme's longer-term prospects. He also announced that Acme consummated a new banking agreement with four Buffalo banks to provide Acme with long-term financing.
 Founded in 1917, Acme Electric Corporation designs and manufactures power conversion equipment for electronic and electrical systems for industrial, commercial, residential, military and aerospace applications. Corporate headquarters are in East Aurora, N.Y., with operations in Cuba, N.Y., Lumberton, N.C., West Jordan, Utah, and Tempe, Ariz.
 ACME ELECTRIC CORPORATION
 Comparative Analysis (Unaudited)
 Period ended 13 weeks 39 weeks
 3/27/92 3/29/91 3/27/92 3/29/91
 Net sales $18,231,000 $19,848,000 $55,781,000 $61,590,000
 Net income (79,000) (864,000) 567,500 (1,540,000)
 Earnings per share (.02) (.19) .12 (.33)
 Weighted average
 shares outstg. 4,779,568 4,751,173 4,773,270 4,735,406
 -0- 5/6/92
 /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: SU: ERN


TQ-OS -- NY027 -- 7022 05/06/92 11:06 EDT
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Publication:PR Newswire
Date:May 6, 1992
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