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AIRSENSORS INC. REPORTS FIRST QUARTER RESULTS

 SEATTLE, Aug. 26 /PRNewswire/ -- AirSensors Inc. (NASDAQ: ARSN, ARSNW) announced today results for the first fiscal quarter ended July 31, 1993.
 For the first fiscal quarter, net sales were $8.2 million, compared to net sales of $9.1 million reported for the first fiscal quarter ended July 31, 1992. The decrease in net sales is primarily attributed to lower shipments on the company's automotive product line, predominantly to its markets in Mexico and Australia. The Mexican government is in process of refining its alternative fuel conversion infrastructure which has impeded the rate at which conversion equipment can be installed, while in Australia, indecision on tax levies for fuels caused fleet owners to delay conversions. The company expects that sales to Mexico and Australia will resume in the next six to 12 months. Propane prices in Australia have recently dropped to new lows.
 Net income applicable to common stock was $257,000, or $0.05 per share, on 5,467,000 shares for the first quarter of fiscal 1994, compared to net income applicable to common stock of $556,000, or $0.18 per share, on 3,654,000 shares for the first quarter of fiscal 1993. The decrease in net income was principally due to lower sales volume combined with higher marketing and development costs to prepare the company for its recently acquired major contract with General Motors as well as other anticipated growth.
 R.M. Stemmler, president and CEO of AirSensors, stated that first quarter operating results fully achieved the company's projections and that the company remains on track for the year.
 The company continues to have a strong balance sheet with $3.6 million in working capital and only $310,000 in a long-term note. The stockholders' equity reached a high of $10.2 million at the end of the recent quarter, compared to $1.6 million at July 31, 1992. This increase resulted principally from the company's recent successful public offering.
 AirSensors Inc. sells its products worldwide through its wholly owned subsidiary, IMPCO Technologies Inc., located in Cerritos, Calif. IMPCO manufactures gaseous fuel equipment that allows internal combustion engines to operate on clean fuels such as propane and natural gas. IMPCO provides conversion equipment for motor vehicles, forklifts, other material handling equipment and small portable to large stationary engines.
 AIRSENSORS INC.
 Financial Summary
 (In thousands except share data)
 Quarter Ended July 31
 FY 1994 FY 1993
 Net sales $8,152 $9,083
 Operating income 584 1,387
 Financing charges 75 374
 Net income (loss) 413 822
 Net income (loss) applicable to common stock 257 556
 Net income (loss) per share $0.05 $0.18
 Number of shares used in per share
 computation 5,467 3,654
 -0- 8/26/93 R
 /CONTACT: Dale Rasmussen of AirSensors, 206-575-1594; or Shirley Thompson of Carl Thompson Associates, 303-494-5472/
 (ARSN ARSNW)


CO: AirSensors Inc. ST: Washington IN: OIL SU: ERN

MF-JL -- LA009 -- 6448 08/27/93 02:30 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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