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BEI HOLDINGS REPORTS SECOND QUARTER OPERATING RESULTS

 BEI HOLDINGS REPORTS SECOND QUARTER OPERATING RESULTS
 ATLANTA, July 23 /PRNewswire/ -- BEI Holdings, Ltd. (NASDAQ: BEIH) today reported results for the second quarter and first half of fiscal 1992 ended June 30.
 Net income for the quarter was $1,416,000, or $.14 per share, compared to $765,000, or $.08 per share, in the second quarter of the prior year. Revenues for the period totaled $12,954,000 compared to $9,942,000 for the second quarter of 1991.
 For the first half of fiscal 1992, net income was $2,718,000, or $.27 per share, on revenues of $23,274,000. This compares to net income of $2,005,000, or $.20 per share, on revenues of $20,328,000 in 1991.
 BEI also reported that, in keeping with its previously announced decision to accelerate the disposition of assets not compatible with its ongoing consulting practices, a number of significant sales occurred in the second quarter. Charles C. Ray Jr., chief financial officer, stated that provisions for these dispositions were reflected in prior periods and the sales did not affect the company's second quarter or year-to- date earnings. The company closed on the sale of its real estate development project at Genesee in Golden, Colo., and also sold a significant portion of its investment portfolio in bank stocks. Additionally, the company completed the sale of its property management company in Dallas in early July.
 BEI Holdings, Ltd. is a consulting firm with annual revenues in excess of $40 million and 22 offices throughout the United States.
 BEI HOLDINGS, LTD. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited)
 Quarter ended
 6/30/92 6/30/91
 Consulting and management services
 revenues $12,954,419 $9,942,530
 Costs and expenses
 Costs of consulting operations 10,876,911 8,536,014
 Selling, general and administrative 798,026 712,562
 Interest expense 34,396 51,470
 Other income, net (148,154) (287,603)
 Total costs and expenses 11,561,179 9,012,443
 Income from continuing operations
 before income taxes 1,393,240 930,087
 Provision for income taxes (23,100) 58,998
 Income from continuing operations 1,416,340 871,089
 Loss from discontinued operations -
 real estate development --- (106,421)
 Net income $ 1,416,340 $ 764,668
 Net income per share:
 Income from continuing operations $ .14 $ .09
 Loss from discontinued operations --- (.01)
 Net income per share $ .14 $ .08
 6 mos. ended
 6/30/92 6/30/91
 Consulting and management services
 revenues $23,273,768 $20,328,441
 Costs and expenses
 Costs of consulting operations 19,560,197 16,803,864
 Selling, general and administrative 1,802,026 1,681,754
 Interest expense 73,671 102,681
 Other income, net (907,749) (594,758)
 Total costs and expenses 20,528,145 17,993,541
 Income from continuing operations
 before income taxes 2,745,623 2,334,900
 Provision for income taxes 27,500 155,298
 Income from continuing operations 2,718,123 2,179,602
 Loss from discontinued operations -
 real estate development --- (174,690)
 Net income $ 2,718,123 $ 2,004,912
 Net income per share:
 Income from continuing operations $ .27 $ .22
 Loss from discontinued operations --- (.02)
 Net income per share $ .27 $ .20
 BEI HOLDINGS, LTD. AND SUBSIDIARIES
 Consolidated Balance Sheets
 ASSETS 6/30/92 12/31/91
 (Unaudited) (Unaudited)
 Cash and cash equivalents $ 248,421 $ 127,893
 Accounts receivable, net of allowance
 for losses 8,297,160 3,804,728
 Accounts receivable - unbilled 2,660,853 2,469,076
 Investments held for sale 2,375,642 3,652,888
 Prepaid expenses and other current
 assets 967,121 1,048,430
 Total current assets 14,549,197 11,103,015
 Mortgage loans and notes receivable 4,501,583 3,197,125
 Notes receivable from officers and
 cash surrender values for company
 paid life insurance 2,885,857 2,740,016
 Real estate held for sale 6,907,922 8,393,265
 Property and equipment, net of
 accumulated depreciation 2,239,831 2,530,373
 Intangible assets, net of accumulated
 amortization 9,436,363 9,626,473
 Other assets 345,913 243,551
 Total assets $40,866,666 $37,833,818
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Liabilities
 Notes payable $ --- $ 1,264,571
 Accounts payable and accrued exps. 5,328,956 4,737,384
 Deferred revenue 95,933 98,793
 Income taxes payable --- 122,831
 Other current liabilities 9,183 231,862
 Total current liabilities 5,434,072 6,455,441
 Long-term debt 167,015 188,670
 Deferred income taxes 1,093,621 1,136,532
 Other liabilities 2,216,625 905,339
 Shareholders' Equity
 Preferred stock, par value $1.00,
 authorized 5 million shares --- ---
 Common stock, par value $.05,
 authorized 15 million shares,
 issued 10,043,964 shares 502,198 500,573
 Additional paid-in capital 48,904,365 48,816,616
 Accumulated deficit (17,451,230) (20,169,353)
 Total shareholders' equity 31,955,333 29,147,836
 Total liabilities and shareholders'
 equity $40,866,666 $37,833,818
 -0- 7/23/92
 /CONTACT: Charles C. Ray Jr., chief financial officer of BEI Holdings, 404-315-6060/
 (BEIH) CO: BEI Holdings, Ltd. ST: Georgia IN: FIN SU: ERN


BR-BN -- AT001 -- 2233 07/23/92 07:35 EDT
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Date:Jul 23, 1992
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