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CIMCO ANNOUNCES THIRD QUARTER RESULTS FOR FISCAL YEAR 1992

 CIMCO ANNOUNCES THIRD QUARTER RESULTS FOR FISCAL YEAR 1992
 COSTA MESA, Calif., Feb. 27 /PRNewswire/ -- CIMCO Inc. (NASDAQ: CIMC) today reported net earnings of $145,817, or $.05 per share, for its third fiscal quarter ended Jan. 31, 1992. A year ago CIMCO reported third quarter net
earnings of $585,617, or $.20 per share. Net sales for the current three months rose slightly to $16.5 million, from $16.2 million reported for the third quarter of fiscal 1991.
 Net earnings for the first nine months of fiscal 1992 were $512,528, or $.17 per share, compared with $1,836,666, or $.61 per share, a year ago. Net sales for the first nine months of this year increased to $50.9 million from $47.0 million a year ago.
 Commenting on the company's quarterly performance, Russell T. Gilbert, president and chief executive officer of CIMCO, stated, "The lower third quarter earnings are primarily a result of continued under- utilization of plant capacity in our commercial and industrial group. We have reacted to the lower sales volume in this group by reducing labor and material costs thereby increasing efficiency. The medical group has seen the benefit of its cost reduction efforts with significantly increased sales and income from the third quarter a year ago. In our materials compounding group, sales and profits were up substantially over comparable periods last year, a result of both increased sales in our Charlotte facility and the new Singapore plant, which is now completely on-line and contributing to profits."
 Gilbert added, "We continue to be optimistic about the near term. Although things didn't improve until late in the third quarter, we expect this trend to continue into the fourth period which is generally our strongest quarter. Our materials compounding business remains strong; medical is expected to continue to improve and our commercial and industrial group is responding well to our efforts to regain profitability."
 Founded in 1959, CIMCO Inc. is a major manufacturer of high performance plastic components, produced from specially formulated plastic compounds. The company supplies more than 100 original equipment manufacturers in the electronics, computer, office equipment, construction and health care industries.
 CIMCO INC. SELECTED FINANCIAL DATA
 (unaudited)
 Fiscal year 1992
 Third Quarter Ended
 Jan. 31, 1992 Jan. 31, 1991
 Net sales $16,472,663 $16,202,529
 Earnings before taxes 186,817 977,617
 Provision for income taxes 41,000 392,000
 Net earnings 145,817 585,617
 Earnings per common share $0.05 $0.20
 Weighted average
 shares outstanding 2,968,810 2,987,191
 Nine Months Ended
 Jan. 31, 1992 Jan. 31, 1991
 Net sales $50,936,450 $47,048,342
 Earnings before taxes 799,528 3,066,666
 Provision for income taxes 287,000 1,230,000
 Net earnings 512,528 1,836,666
 Earnings per common share $0.17 $0.61
 Weighted average of shares
 outstanding 2,976,483 3,030,723
 CIMCO INC. BALANCE SHEET
 Jan. 31, 1992 April 30, 1991
 Current assets $20,809,561 $18,312,274
 Total assets 45,492,732 40,993,241
 Current liabilities 12,485,420 10,973,576
 Long-term debt, net 4,713,377 2,017,020
 Stockholders' equity 26,156,557 25,765,267
 -0- 2/27/92
 /CONTACT: S. Suki Shattuck, director corporate relations of CIMCO, 714-546-4460; or Cecilia A. Wilkinson of Rifkind Pondel & Parsons, 213-207-9300, for CIMCO/
 (CIMC) CO: CIMCO, Inc. ST: California IN: SU: ERN


JL -- LA023 -- 3128 02/27/92 09:31 EST
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Date:Feb 27, 1992
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