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CIMCO ANNOUNCES THIRD QUARTER RESULTS FOR FISCAL YEAR 1993

 COSTA MESA, Calif., March 2 /PRNewswire/ -- CIMCO Inc. (NASDAQ: CIMC) today reported net earnings for the first nine months of its fiscal 1993 year rose 45 percent to $742,000, or $.25 per share, up from $513,000, or $.17 per share, a year ago. Net sales for the nine-month period ended Jan. 31, 1993, increased 8 percent to $55.2 million, from $50.9 million a year ago.
 Net earnings for the most recent three months were $93,000, or $.03 per share, compared with $146,000, or $.05 per share, reported for the corresponding year earlier third quarter. Net sales for the 1993 third quarter rose to $17.3 million, from $16.5 million reported for the third quarter of last year.
 Commenting on the company's quarterly performance, Russell T. Gilbert, president and chief executive officer of CIMCO, said, "Sales growth came from our Medical and Compounding groups, both of which also achieved improved margins. These gains were offset by an operating loss in our Commercial/Industrial Group, where low sales early in the quarter affected this group's profitability. However, cost cutting measures, which included an employee reduction of 9 percent, were made in the latter part of the quarter, and we expect to see the positive impact from these in the fourth quarter."
 Gilbert added, "The Commercial/Industrial Group experienced a pick up in orders from new and existing customers late in the quarter. As the sale volume increases in the fourth quarter, led by a rapid ramp up in production for a major new customer, the capacity utilization in our manufacturing facilities will improve."
 Founded in 1959, CIMCO Inc. is a major developer and manufacturer of high performance plastic components for commercial/industrial and medical markets. The company also custom formulates and compounds reinforced thermoplastic materials. CIMCO supplies more than 100 original equipment manufacturers in business machine, computer, commercial irrigation, automotive safety, telecommunications and health care industries.
 CIMCO INC.
 Selected Financial Data
 (Unaudited)
 Fiscal Year 1993
 Third Quarter Ended
 Jan. 31, 1993 Jan. 31, 1992
 Net sales $17,267,759 $16,472,663
 Earnings before taxes 32,312 186,817
 Provision for income taxes (61,000) 41,000
 Net earnings 93,312 145,817
 Earnings per common share $0.03 $0.05
 Weighted average shares outstanding 2,980,357 2,968,810
 Nine Months Ended
 Jan. 31, 1993 Jan. 31, 1992
 Net sales $55,209,000 $50,936,450
 Earnings before taxes 918,360 799,528
 Provision for income taxes 176,000 287,000
 Net earnings 742,360 512,528
 Earnings per common share $0.25 $0.17
 Weighted average shares outstanding 2,974,529 2,976,483
 Balance Sheet
 Jan. 31, 1993 Apr. 30, 1992
 Current assets $22,771,000 $21,945,000
 Total assets 48,341,000 47,001,000
 Current liabilities 12,383,000 11,669,000
 Long-term debt, net 6,046,000 6,178,000
 Stockholders' equity 27,464,000 26,706,000
 -0- 3/2/93
 /CONTACT: S. Suki Shattuck, director of corporate relations of CIMCO, 714-546-4460; or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for CIMCO/
 (CIMC)


CO: CIMCO Inc. ST: California IN: SU: ERN

KJ-LS -- LA011 -- 1767 03/02/93 08:34 EST
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Date:Mar 2, 1993
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