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BEI HOLDINGS REPORTS SECOND QUARTER OPERATING RESULTS

 ATLANTA, July 27 /PRNewswire/ -- BEI Holdings, Ltd. (NASDAQ: BEIH) today reported results for the second quarter and first half of fiscal 1993 ended June 30.
 Net income for the quarter was $13,239,000 ($1.20 per share) compared to $1,416,000 ($.14 per share) in the second quarter of the prior year. During the second quarter, BEIH sold its financial consulting division, BEI Golembe, to Electronic Data Systems Corporation of Dallas for $22 million in cash. Net income for the second quarter includes an after tax gain on the sale of BEI Golembe of $12,753,000. Revenues for the period totaled $9,118,000 compared to $12,954,000 for the second quarter of 1992.
 For the first half of fiscal 1993, net income was $14,678,000 ($1.33 per share) compared to $2,718,000 ($.27 per share) for the first half of 1992. Revenues for the first six months of 1993 were $23,438,000 compared to $23,274,000 in the prior year.
 BEI Holdings, Ltd. is a diversified consulting firm headquartered in Atlanta.
 BEI HOLDINGS LTD. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited)
 Quarters ended 6/30/93 6/30/92
 Consulting and management
 services revenues $ 9,117,581 $12,954,419
 Costs and expenses
 Costs of consulting operations 7,967,713 9,824,537
 Selling, general and administrative 260,983 798,026
 Interest expense --- 34,396
 Other income, net (215,120) (148,154)
 Minority interest 565,744 1,052,374
 Total costs and expenses 8,579,320 11,561,179
 Gain on sale of assets 14,360,467 ---
 Income from continuing operations
 before income taxes 14,898,728 1,393,240
 Provision for income taxes 1,659,547 (23,100)
 Net income $13,239,181 $ 1,416,340
 Net income per share $ 1.20 $ 0.14
 Six months ended 6/30/93 6/30/92
 Consulting and management
 services revenues $23,437,924 $23,273,768
 Costs and expenses
 Costs of consulting operations 18,724,829 18,331,977
 Selling, general and administrative 986,967 1,802,026
 Interest expense 5,573 73,671
 Other income, net (307,686) (907,749)
 Minority interest 1,879,670 1,228,220
 Total costs and expenses 21,289,353 20,528,145
 Gain on sale of assets 14,360,467 ---
 Income from continuing operations
 before income taxes 16,509,038 2,745,623
 Provision for income taxes 1,830,547 27,500
 Net income $14,678,491 $ 2,718,123
 Net income per share $ 1.33 $ 0.27
 BEI HOLDINGS LTD. AND SUBSIDIARIES
 Consolidated Balance Sheets
 (Unaudited)
 ASSETS 6/30/93 12/31/92
 Cash and cash equivalents $24,119,147 $ 3,523,903
 Accounts receivable, net of allowance
 for losses 5,997,829 5,395,015
 Accounts receivable - unbilled 6,491,769 4,923,254
 Investments held for sale 1,640,434 1,640,434
 Prepaid expenses 347,890 537,915
 Other current assets 425,578 533,586
 Total current assets 39,022,647 16,554,107
 Mortgage loans and notes receivable 2,874,865 3,830,304
 Notes receivable from officers and
 related cash surrender values for
 company paid life insurance 3,348,481 3,104,015
 Real estate held for sale 7,258,914 7,050,787
 Property and equipment, net of
 accumulated depreciation 1,849,714 2,331,452
 Intangible assets, net of accumulated
 amortization 8,155,820 10,606,731
 Other assets 842,433 781,552
 Total assets $63,352,874 $44,258,948
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Liabilities
 Accounts payable and accrued exps. $ 4,791,338 $ 4,512,564
 Deferred revenue --- 454,072
 Dividends payable 554,052 ---
 Income taxes payable 2,548,417 755,633
 Current portion of long-term debt --- 40,715
 Payable to joint venture partner 3,399,508 1,738,838
 Total current liabilities 11,293,315 7,501,822
 Long-term debt 158,921 252,551
 Other liabilities --- 806,438
 Shareholders' Equity
 Common stock, par value $.05,
 authorized 15 million shares,
 issued 11,081,037 and
 10,419,787 respectively 554,052 520,989
 Additional paid-in capital 52,094,234 50,049,234
 Accumulated deficit (747,648) (14,872,086)
 Total shareholders' equity 51,900,638 35,698,137
 Total liabilities and shareholders'
 equity $63,352,874 $44,258,948
 -0- 7/27/93
 /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

RA-BR -- AT001 -- 6009 07/27/93 07:32 EDT
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Date:Jul 27, 1993
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