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BALLISTIC RECOVERY SYSTEMS REPORTS SECOND QUARTER RESULTS

 MINNEAPOLIS, May 19 /PRNewswire / -- Ballistic Recovery Systems, Inc. (BRS) reported today that net sales for the second quarter ended March 31, 1993 were $208,414 compared to net sales of $358,103 for the same period in 1992. Net loss for the second quarter was to $149,429, or $.04 per share, compared to a net loss of $32,054, or $.01 per share, last year.
 For the six month period ended March 31, 1993, BRS reported net sales of $403,292 compared to $490,691 for the same period last year. Net loss for the six month period ended March 31, 1993 was $179,730, or $.05 per share, compared to a net loss of $241,377, or $.07 per share reported one year ago.
 The decrease in net sales for the three months ended March 31, 1993 resulted primarily from a temporary slowdown in European dealer orders. This order flow resumed by the end of the second quarter resulting in open orders that will be shipped during the third quarter of 1993.
 Gross profit as a percentage of sales decreased to 18.5 percent for the second quarter 1993. Gross margin performance is expected to improve beginning in the third quarter of fiscal 1993 due to two primary factors. First, the company finalized new parachute pricing agreements. Second, the company has restructured its production staffing to improve production flow and improve inventory controls and systems.
 Ballistic Recovery Systems, Inc. designs, manufactures, and distributes rocket-powered parachute systems which are designed to recover aircraft under catastrophic airborne conditions.
 STATEMENT OF OPERATIONS
 (Unaudited)
 Three Months Ended March 31
 1993 1992
 Sales $208,414 $358,103
 Cost of sales 169,849 200,623
 Gross profit 38,565 157,480
 Selling, general
 and administrative 58,989 76,339
 Research & development 15,292 20,750
 Income (loss) from operations (35,716) 60,391
 Other income (expense):
 Interest income -- (2,447)
 Interest expense (10,320) (7,954)
 Other income - net 5,152 1,425
 Income (loss) from
 continuing operations (40,884) 51,415
 Discontinued operations:
 Income (loss) from
 operations of discontinued
 Paranetics Division -- (180,944)
 Gain on disposal of
 Paranetics Division -- 97,475
 Total discontinued
 operations -- (83,469)
 Income (loss) before
 extraordinary item (40,884) (32,054)
 Extraordinary item
 (sale of real estate) (108,545) --
 Net income (loss) $(149,429) $(32,054)
 Income (loss) from
 continuing operations,
 per share ($0.01) $0.01
 Net income (loss)
 per share ($0.04) ($0.01)
 Weighted average number of
 shares outstanding 3,416,324 3,530,368
 Six Months Ended March 31
 1993 1992
 Sales $403,292 $490,691
 Cost of sales 311,588 367,314
 Gross profit 91,704 123,377
 Selling, general
 and administrative 144,945 135,256
 Research & development 30,798 63,006
 Income (loss) from
 operations (54,039) (74,885)
 Other income (expense):
 Interest income -- 628
 Interest expense (23,003) (21,690)
 Other income - net 5,857 1,425
 Income (loss) from
 continuing operations (71,185) (94,522)
 Discontinued operations:
 Income (loss) from
 operations of discontinued
 Paranetics Division -- (244,330)
 Gain on disposal of
 Paranetics Division -- 97,475
 Total discontinued
 operations -- (146,855)
 Income (loss) before
 extraordinary item (71,185) (241,377)
 Extraordinary item
 (sale of real estate) (108,545) --
 Net income (loss) $(179,730) $(241,377)
 Income (loss) from
 continuing operations,
 per share ($0.02) ($0.03)
 Net income (loss)
 per share ($0.05) ($0.07)
 Weighted average number of
 shares outstanding 3,416,324 3,530,368
 -0- 05/19/93
 /CONTACT: Boris Popov, Chairman, or Darrell Brandt, CEO, 612-457-7491, both of Ballistic Recovery Systems; or Tom de Petra of de Petra & Associates, 612-338-7630, for Ballistic Recovery Systems/


CO: Ballistic Recovery Systems, Inc. ST: Minnesota IN: ARO SU: ERN

AL -- MN007 -- 0268 05/19/93 11:48 EDT
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Publication:PR Newswire
Date:May 19, 1993
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