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ATEK METALS CENTER, INC. REPORTS EARNINGS FOR THIRD QUARTER OF FISCAL 1993

 CINCINNATI, Aug. 11 /PRNewswire/ -- Atek Metals Center, Inc. (NASDAQ-NMS: ATKM) announced today its results for the third quarter of Fiscal 1993. For the three months ended June 30, 1993, Atek reported net earnings of $249,000 ($0.06 per share) compared to $331,000 ($0.08 per share) for the third quarter of Fiscal 1992. Revenues totaled $11,515,000 versus $11,252,000 in the third quarter of Fiscal 1992. Average shares outstanding numbered 3,730,231 in Fiscal 1993 and Fiscal 1992. The quarter ended June 30, 1993 included $186,000 ($0.05 per share) of costs related to the pending merger transaction.
 For the nine months ended June 30, 1993, the company showed net earnings of $1,032,000 ($0.25 per share) compared to $538,000 ($0.12 per share) for the same period in 1992. Revenues were $35,000,000 versus $34,516,000 in 1992.
 FINANCIAL SUMMARY
 (Dollars in thousands except per share data)
 Third Quarter Ended Nine Months Ended
 June 30 June 30
 1993 1992 1993 1992
 Revenues $11,515 $11,252 $35,000 $34,516
 Gross Profit 2,510 2,355 7,566 7,126
 Operating Profit 572 591 1,877 1,342
 Net Earnings 249 331 1,032 538
 Earnings Per Share 0.06 0.08 0.25 0.12
 Average Shares
 Outstanding 3,730,231 3,730,231 3,730,231 3,730,231
 On July 7, 1993, the company announced the signing of a reorganization agreement with AMC Acquisition Corporation ("AMC"), a corporation formed by affiliates of Rolled Alloys, Inc., a privately held distributor of heat and corrosive resistant alloys, pursuant to which AMC will be merged into Atek and each share of Atek's common stock will be converted into a right to receive $4.51 in cash.
 Consummation of the transaction is contingent upon a number of matters including, without limitation, receipt by AMC of an environmental report satisfactory to it with respect to one of Atek's facilities and the adoption of the proposed merger by Atek's shareholders. It is contemplated that if the conditions are met, the transaction should close sometime in September 1993.
 Atek provides high performance materials and manufacturing services worldwide to the aircraft engine segment of the aerospace industry and the petrochemical segment of the chemical process industry.
 -0- 8/11/93
 /CONTACT: Barry F. Bucher, president and CEO of Atek Metals Center, Inc., 513-874-3490/
 (ATKM)


CO: Atek Metals Center, Inc. ST: Ohio IN: ARO CHM SU: ERN

AR -- CL005 -- 1536 08/11/93 09:21 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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