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DASI ANNOUNCES THIRD QUARTER RESULTS

 SILVER SPRING, Md., Oct. 22 /PRNewswire/ -- DASI, Inc. today announced that its net sales for the third quarter amounted to $3,618,935, but that, for the period, net loss was $134,771.
 The third quarter loss reduced DASI's net income for the first nine months of 1993 to $313,685, which is approximately $.07 per share.
 DASI attributed most of its recent losses to increased expenses incurred in producing or preparing to produce new products for customers, and a number of non-recurring expenses.
 Dr. John Nahra, president of DASI, Inc., pointed out that at $10,498,860, DASI's sales for the nine month period were nearly twice the $5,377,384 generated in 1992. Dr. Nahra praised the employees of the company's subsidiary DASI Products who have been working around the clock, seven days a week, to fulfill difficult orders on a special project for a large customer.
 Dr. Nahra also announced that, effective Oct. 1, 1993, DASI has sold a 20 percent interest in its subsidiary, DASI Products, to Western Quality Foods (WQF), a new company formed in Utah by Mid-America Dairymen, Inc. and a group of shareholders from Sinton Dairy of Colorado. Cash consideration amounted to $2 million, which DASI intends to use to reduce certain short-term indebtedness, pay various outstanding obligations, and support growing working capital requirements. Concurrently, MidAm Finance, Inc. will supply DASI Products with a $2 million credit line which will replace $1.2 million of subordinated debt which has been bearing interest at 17.5 percent per annum.
 "This transaction completes the refinancing effort begun a year ago, and will further lower DASI's interest costs," Dr. Nahra said.
 As part of the above transaction, DASI also received an order to supply a DASI system to a new plant to be built by WQF in Cedar City, Utah, and DASI will have a 20 percent interest in WQF. Both DASI Products and WQF have options to increase ownership in each other after 1995, Dr. Nahra said.
 DASI, Inc., is a Delaware company which owns and licenses ultra pasteurization equipment and, through its DASI Products subsidiary, processes dairy and other specialty products under contract.
 -0- 10/22/93
 /CONTACT: Dr. John E. Nahra, president of DASI, Inc., 301-589-9000/


CO: DASI, Inc. ST: Delaware, Maryland IN: SU: ERN

JS-LD -- NY074 -- 5917 10/22/93 16:58 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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