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ADVANCE CIRCUITS ANNOUNCES RESULTS FOR FIRST QUARTER OF FISCAL 1992

ADVANCE CIRCUITS ANNOUNCES RESULTS FOR FIRST QUARTER OF FISCAL 1992
 MINNETONKA, Minn., Dec. 12 /PRNewswire/ -- Advance Circuits, Inc. (NASDAQ: ADVC), Minnetonka-based manufacturer of printed circuits, today announced a net income of $892,000 or $.17 per share for its first quarter ended Nov. 30, 1991. Sales for the quarter of $21,604,000 represented a 12 percent increase from sales of $19,230,000 for the first quarter in fiscal 1991 which produced net income of $384,000 or $.07 per common share.
 Robert W. Heller, president, indicated that the company's on time delivery and customer satisfaction ratings have never been higher, however, pricing pressure in the circuit board industry continues to depress margins. Improved shipments and margins in the commercial division were the principle reason for the improvement over 1991. The military division's sales were also higher than 1991 but its gross margin percent was lower due to decrease in prices.
 The company's common stock is traded on the NASDAQ National Market System under the symbol ADVC.
 ADVANCE CIRCUITS, INC.
 CONDENSED STATEMENT OF INCOME
 (Unaudited, in thousands, except per share data)
 Three Months Ended
 11/30/91 11/24/90
 Net sales $21,604 $19,230
 Cost of sales 18,969 17,424
 Gross profit 2,635 1,806
 Operating expense 1,220 1,186
 Income before income tax 1,415 620
 Income tax 523 236
 Net income 892 384
 Average no. of common shares
 and equivalents outstanding 5,331 5,613
 Net income per share $.17 $.07
 SUMMARY BALANCE SHEET
 11/30/91 8/31/91
 Current assets $19,052 $20,756
 Other assets 17,359 16,182
 Total 36,411 36,938
 Current liabilities 9,422 10,915
 Other liabilities 546 546
 Net worth 26,443 25,477
 Total 36,411 36,938
 -0- 12/12/91
 /CONTACT: Robert Heller, president of Advance Circuits, 612-935-3311/
 (ADVC) CO: Advance Circuits, Inc. ST: Minnesota IN: CPR SU: ERN


AL -- MN006 -- 1944 12/12/91 12:15 EST
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Date:Dec 12, 1991
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