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AMERICAN PRECISION INDUSTRIES ANNOUNCES THIRD QUARTER, NINE MONTHS RESULTS

 BUFFALO, N.Y., Oct. 18 /PRNewswire/ -- American Precision Industries (NYSE: APR) announced today its earnings for the third quarter and nine months ended Oct. 1, 1993.
 Consolidated sales for the third quarter 1993 were $12.6 million, slightly down from $12.9 million in the third quarter 1992. Net earnings for the third quarter amounted to $502,000, or $0.07 per share compared to $770,000, or $0.11 per share for the same period in 1992.
 Consolidated sales in the first nine months of 1993 were $38.5 million, up from $37.7 million for the same period last year. Net earnings for the first nine months of 1993 amounted to $1.5 million, or $0.21 per share, compared to $2.3 million, or $0.33 per share for the same nine month period in 1992.
 Kurt Wiedenhaupt, president and chief executive officer of American Precision Industries, said, "While down from results in the comparable third period last year, I am pleased to note that we are continuing to make progress in several critical areas of our business.
 "Bookings, for example, for the first nine months of the year came to $40 million, the highest for any first nine month period in the company's history. We also continue to increase our market share. In the Heat Transfer Group, bookings over last year increased 6.6 percent, while bookings in the Motion Control Group increased 13.3 percent. The backlogs at the end of the third quarter were up 13.2 percent over last year.
 "The decline in the third quarter earnings reflect reduced investment income and losses incurred in one division. The division's difficulties should be cleared up by the end of the year, as division management has been changed and the division's problems are being addressed.
 "We remain confident that our marketing and product development initiatives, as well as the already achieved productivity improvements, will contribute to the continuing positive performance trend."
 American Precision Industries is a diversified manufacturing company which produces high quality products for the heat transfer, electronic components, and motion control industries.
 AMERICAN PRECISION INDUSTRIES INC.
 Consolidated Statement of Earnings (Unaudited)
 Third Quarter Ended
 1993 1992
 October 1 October 2
 Net Sales $12,620,000 $12,913,000
 Investment Income 101,000 181,000
 Revenues 12,721,000 13,094,000
 Costs and Expenses
 Cost of products sold 8,302,000 8,491,000
 Selling and administrative 3,610,000 3,321,000
 Interest and debt expense 58,000 70,000
 Total 11,970,000 11,882,000
 Earnings Before Income Taxes 751,000 1,212,000
 Federal and State Income Taxes 249,000 442,000
 Net Earnings $ 502,000 $ 770,000
 Net Earnings Per Share $0.07 $0.11
 Average Shares Outstanding 7,058,000 7,116,000
 Nine Months Ended
 1993 1992
 October 1 October 2
 Net Sales $38,501,000 $37,745,000
 Investment Income 332,000 541,000
 Revenues 38,833,000 38,286,000
 Costs and Expenses
 Cost of products sold 25,961,000 24,922,000
 Selling and administrative 10,360,000 9,520,000
 Interest and debt expense 185,000 228,000
 Total 36,506,000 34,670,000
 Earnings Before Income Taxes 2,327,000 3,616,000
 Federal and State Income Taxes 826,000 1,287,000
 Net Earnings $ 1,501,000 $ 2,329,000
 Net Earnings Per Share $0.21 $0.33
 Average Shares Outstanding 7,057,000 7,118,000
 -0- 10/18/93
 /CONTACT: John M. Murray, vice president - finance & treasurer, of American Precision Industries, 716-684-9700/
 (APR)


CO: American Precision Industries Inc. ST: New York IN: MAC SU: ERN

AR -- CL017 -- 3338 10/18/93 11:16 EDT
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Date:Oct 18, 1993
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