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ADAGE EXPECTS REVENUE INCREASES IN EXCESS OF 15 PERCENT AND A 45 PERCENT INCREASE IN INCOME FROM CONTINUING OPERATIONS IN THE FIRST QUARTER

ADAGE EXPECTS REVENUE INCREASES IN EXCESS OF 15 PERCENT AND A 45 PERCENT INCREASE IN INCOME FROM CONTINUING OPERATIONS IN THE FIRST QUARTER
 CHICAGO, April 30 /PRNewswire/ -- Adage, Inc. (NASDAQ: ADGE), "expects to report revenue increases in excess of 15 percent and a 45 percent increase in income from continuing operations for the first quarter ended March 31, 1992," Robert H. Cahill, president, told security analysts at a meeting held here today. In last year's first quarter Adage reported revenues of $20,139,000 and income from continuing operations of $348,000. Earnings per share from continuing operations in last year's first quarter were $0.10 on 3,440,138 weighted average shares outstanding. There were 4,797,990 weighted average shares outstanding in the current first quarter.
 Cahill said, "In addition to the merger with RELM Communications which was effective Jan. 24, 1992, the first quarter increases are due to sharp cuts in general and administrative expense instituted at all divisions in last year's second quarter, and improved performance in the Allister electronic access controls division. We expect this positive trend to continue for the remainder of the year."
 Headquartered in West Chester, Pa., Adage, Inc., through its operating subsidiaries, produces recycled paperboard and cartons, cold drawn steel and electronic access control products and systems. The RELM Communications subsidiary is a producer of land mobile two-way radios and demand side management systems which enable electric utilities to better manage electricity consumption.
 -0- 4/30/92
 /CONTACT: Robert H. Cahill, president, or Robert T. Holland, CFO of Adage, at Midland Hotel-Steinborn Room, 313-332-1200/
 (ADGE) CO: Adage, Inc. ST: Pennsylvania IN: PAP SU: ERP


GK-SM -- NY075 -- 5010 04/30/92 13:54 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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