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BUFFTON CORPORATION ANNOUNCES PROFITABLE SECOND QUARTER

 FORT WORTH, Texas, April 16 /PRNewswire/ -- Robert H. McLean, chairman of the board and president of Buffton Corporation (AMEX: BFX), announced today a net income of $74,000 or $.02 per share on revenues of $11,412,000 for its second quarter ended March 31, 1993. For the same period last year, the net loss was $4,001,000, or $.88 per share on revenues of $10,621,000. Included in the prior year loss is a loss of $3,723,000, or $.82 per share relating to the disposition of B&D Instruments and Avionics, Inc.
 For the six months ended March 31, 1993, the net loss was $256,000, or $.05 per share on revenues of $22,184,000. For the same period last year, the net loss was $3,807,000, or $.87 per share on revenues of $21,445,000. Included in the prior year loss was the disposition of B&D Instruments and Avionics, Inc.
 McLean stated, "The improvement for the current quarter vs. that of the prior year is a result of the improved operating performance of Contex Electronics and Flo Control, as well as a reduction in corporate overhead. We anticipate continued improvement in the results from our operating subsidiaries for the remainder of the 1993 fiscal year."
 Buffton Corporation is a diversified group of companies engaged in the manufacture of electronic and plastic products.
 BUFFTON CORPORATION
 Earnings Summary
 (In thousands, except per share amounts -- unaudited)
 Periods ended Three months Six months
 March 31, 1993 1992 1993 1992
 Net Revenues $ 11,412 $ 10,621 $ 22,184 $ 21,445
 Income (loss) from
 continuing operations 74 (278) (256) (437)
 Discontinued operation:
 Income from operations -- 130 -- 483
 Loss on disposal -- (3,853) -- (3,853)
 TOTAL -- (3,723) -- (3,370)
 Net income (loss) $ 74 $ (4,001) $ (256) $ (3,807)
 Net income (loss) per
 average common share:
 Continuing operations $ .02 $ (.06) $ (.05) $ (.10)
 Discontinued operation -- (.82) -- (.77)
 Net income (loss) $ .02 $ (.88) $ (.05) $ (.87)
 -0- 4/16/93
 /CONTACT: Robert Korman, vice president and CFO of Buffton Corporation, 817-332-4761/
 (BFX)


CO: Buffton Corporation ST: Texas IN: SU: ERN

SH -- NY056 -- 0960 04/16/93 14:53 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
Words:359
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