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CHECK TECHNOLOGY ANNOUNCES EXPECTED LOSS FOR THIRD QUARTER

 ST. PAUL, Minn., July 13 /PRNewswire/ -- Check Technology Corporation (NASDAQ-NMS: CTCQ) announced today that it expects to report a loss for the third quarter ended June 30, 1993. The expected loss is attributable primarily to unrealized currency exchange losses, arising from the continuing strength of the dollar against foreign currencies, together with the postponement of orders by several customers, resulting in lower revenues than expected. Continued research and development spending on the company's next generation of check production systems also contributed to the loss. The loss is only the company's second quarterly loss since 1988 and is expected to be in the range of $0.03 to $0.04 per share. Before the effect of unrealized currency exchange losses and taxes, the company expects to report a nominal profit. The company anticipates reporting third quarter results in early August.
 Check Technology Corporation is a manufacturer of computerized high volume check and encoded document production systems serving the international financial printing industry as well as corporate customers seeking to manage more effectively their check disbursement functions. The company operates through sales offices at its corporate headquarters in the United States and at its subsidiaries in the United Kingdom, France and Australia.
 -0- 7/13/93
 /CONTACT: Paul Stephenson of Check Technology Corporation, 612-454-9300, ext. 208/
 (CTCQ)


CO: Check Technology Corporation ST: Minnesota IN: SU: ERP

MA -- MN015 -- 1045 07/13/93 16:41 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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