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BUTLER INTERNATIONAL REPORTS THIRD QUARTER -- NINE MONTHS, 1993 RESULTS

 MONTVALE, N.J., Nov. 2 /PRNewswire/ -- Butler International, Inc. (NASDAQ: BUTL) announced today higher sales and profits from operations for the three and nine months ended Sept. 30, 1993, a substantial improvement over last year.
 Net sales from operations for the three months ended Sept. 30, 1993 were $75.5 million, compared with $69.0 million for the third quarter 1992, or a 9.5 percent increase. Income from continuing operations was $206,000, or 3 cents per share, for the third quarter 1993 compared with a loss from continuing operations of $884,000, or (21 cents) per share, a year ago. For the first nine months of 1993, net sales from operations of $225.6 million were 16.6 percent above the $193.4 million recorded in the first nine months of 1992. Income from continuing operations of $1.3 million, or 22 cents per share, in the first nine months of 1993 was a significant turnaround from the $3.3 million loss, or (75 cents) per share, in the first nine months of 1992.
 Sales growth for the current quarter was primarily attributable to an 8 percent increase in billable employees and an increase in average hourly billing rates compared with last year. Gross margins for the quarter were 13.5 percent, which represents an improvement over last year's margin of 12.8 percent. Reduced expenses and higher overall volume from internal growth and, to a lesser extent, acquisitions contributed to the improvement. Selling, general and administrative expenses for the quarter were up only 1.7 percent, and essentially flat for the first nine months compared with last year.
 Edward M. Kopko, chief executive officer, stated, "Regardless of the timing and the extent of the recovery, the trend of outsourcing and contract technical services continues to be evidenced by Butler's turnaround in sales and earnings."
 Butler International, Inc. is a leading provider of technical and professional services and solutions to major companies throughout the world. Butler's services include project management, outsourcing and technical staff augmentation.
 Summary of Operations
 (in thousands except share and per share data)
 (unaudited)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 27, Sept. 30, Sept. 27,
 1993 1992 1993 1992
 Net sales $75,543 $68,958 $225,554 $193,402
 Cost of sales 65,366 60,111 194,879 167,941
 Gross margin 10,177 8,847 30,675 25,461
 SG&A 8,900 8,748 26,785 26,636
 Income (loss) from
 continuing operations
 before depreciation/
 amortization 1,277 99 3,890 (1,175)
 Income (loss) from
 continuing
 operations 206 (884) 1,261 (3,344)
 Income (loss) from
 discontinued
 operations --- (148) (2,227) (222)
 Net income (loss) 206 (1,032) (966) (3,566)
 Income (loss) per
 share:
 Continuing opers. 3 cents (21 cents) 22 cents (75 cents)
 Discontinued opers. --- (3 cents) (46 cents) (5 cents)
 Net (loss) inc.
 per share 3 cents (24 cents) (24 cents) (80 cents)
 Average shares
 outstanding 5,076,957 4,484,834 4,855,825 4,484,834
 Selected Balance Sheet Information
 (in thousands except share data)
 Sept. 30, 1993 Dec. 31, 1992
 Total current assets $47,663 $41,694
 Total current liabilities 13,229 12,853
 Working capital 34,434 28,841
 Total assets 84,939 69,406
 Total liabilities 49,298 35,758
 Stockholders' equity $35,641 $33,648
 Issued and outstanding
 shares 5,076,957 4,488,329
 -0- 11/2/93
 /CONTACT: Raymond J. Lacroix, 201-573-8000, or Richard E. Cooper, 212-826-9622, both of Butler International/
 (BUTL)


CO: Butler International, Inc. ST: New Jersey IN: SU: ERN

JL-DJ -- NE006 -- 9591 11/02/93 10:44 EST
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Publication:PR Newswire
Date:Nov 2, 1993
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