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AUTOCLAVE ENGINEERS, INC. REPORTS FISCAL 1993 SECOND QUARTER/FIRST HALF RESULTS

 ERIE, Pa., Jan. 8 /PRNewswire/ -- Autoclave Engineers, Inc. (NASDAQ: ACLV) today reported results for the first half of fiscal 1993, ended Nov. 30, 1992.
 Net sales for the first half of fiscal 1993 were $38,773,000 and net income was $138,000 or $0.03 per share. Comparable figures for fiscal year 1992 were net sales of $36,957,000 and net income of $531,000 or $0.13 per share.
 Net income in the second quarter this year was $263,000 or $0.06 per share on sales of $21,262,000. Last year's second quarter resulted in net income of $361,000 or $0.09 per share on net sales of $18,673,000.
 Commenting on these results, William F. Schilling, president and chief executive officer, said, "We are disappointed with our second quarter performance. Although sales were near budgeted levels, income fell well short of expectations. Operating expenses continued under good control, but gross margins were not satisfactory."
 Schilling went on to explain the gross margin situation by saying, "Gross margins have been under pressure for some time due to economic conditions and competitive forces in our markets. During the first half of this year we incurred additional costs at both the Autoclave Engineers Group and Unit Instruments in order to improve customer service. Most of these costs are not ongoing and thus we anticipate gross margin improvement in the second half of the year."
 Regarding the corporation's third operation, Burton Corblin, Schilling commented, "Sales were good in the second quarter, given the European economy, and income exceeded expectations. It appears that the changes implemented at the end of fiscal year 1992 and early in the current fiscal year have driven Burton Corblin's break-even point down considerably. This will enable Burton Corblin to operate profitably at the current level of business."
 Autoclave Engineers, Inc., headquartered in Erie, with subsidiaries in Erie, Yorba Linda, Calif., and Nogent, France, is a recognized leader in providing high quality engineered products for chemical research and related process markets throughout the world.
 AUTOCLAVE ENGINEERS, INC.
 Consolidated Statement of Earnings
 Period Second Quarter Six Months
 Ended Nov. 30 1992 1991 1992 1991
 Net sales $21,262,000 $18,673,000 $38,773,000 $36,957,000
 Net income (loss) 263,000 361,000 138,000 531,000
 Net income/loss
 (per share) $ 0.06 $ 0.09 $ 0.03 $ 0.13
 Avg. shares used
 to compute
 earnings per
 share 4,265,130 4,215,093 4,223,466 4,230,013
 /delval/
 -0- 1/8/93
 /CONTACT: Thomas C. Guelcher, chief financial officer of Autoclave Engineers, 814-838-5804/
 (ACLV)


CO: Autoclave Engineers, Inc.; Burton Corblin ST: Pennsylvania IN: MTC CHM SU: ERN

CD-MK -- PG002 -- 2969 01/08/93 09:52 EST
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Date:Jan 8, 1993
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