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DOVATRON INTERNATIONAL REPORTS THIRD QUARTER RESULTS

 BINGHAMTON, N.Y., Oct. 27 /PRNewswire/ -- DOVatron International Inc. (NASDAQ: DOVT) today announced net income from continuing operations of $1,539,000 for the third quarter ended Sept. 30, 1993, on revenues of $34,077,000. This compares with net income from continuing operations of $1,023,000 on revenues of $22,604,000 for third quarter 1992, a 50 percent increase in net income from continuing operations and a 51 percent increase in revenues. Through nine months ended September 1993, the company's net income from continuing operations was $4,370,000 on revenues of $95,786,000 compared to net income from continuing operations of $3,536,000 on revenues of $71,964,000 for 1992. The company's earnings per share (EPS) from continuing operations for third quarter 1993 of 27 cents represents a 50 percent increase over the comparable period in 1992 on a pro-forma basis. DOVatron completed a spin-off from Dover Corp. effective May 21, 1993.
 Ronald R. Budacz, chairman and chief executive officer, commented, "We are pleased with our orders growth over the past two quarters as our Binghamton and Colorado Contract Electronic Manufacturing (CEM) business units expand volume with current customers and Ireland continues to add new customers. This, coupled with our recent announcement of adding Conner Peripherals to our customer base in Southeast Asia, increases our backlog to $156 million which is $73 million above the 1992 year-end backlog of $83 million, and an increase of $39 million since the second quarter."
 DOVatron International serves the electronics industry through its four strategically located ISO 9000 certified contract electronics manufacturing divisions and its latest CEM high-volume facility located in Malaysia. In addition, the company designs, manufactures and markets products to the industry through three other autonomous business units. DOVatron has production facilities located in New York, Colorado, California, Ireland, Singapore and Malaysia.
 DOVATRON INTERNATIONAL INC.
 Income Statement
 Three Months Ended
 Sept. 30,
 1993 1992
 Net sales $34,077,000 $22,604,000
 Cost of sales 29,325,000 19,650,000
 Gross profit 4,752,000 2,954,000
 Selling, general and
 administration expenses 2,575,000 1,771,000
 Operating income 2,177,000 1,183,000
 Other income (expense) (93,000) 128,000
 Pretax income from continuing
 operations 2,084,000 1,311,000
 Income taxes 545,000 288,000
 Net income from continuing
 operations $1,539,000 $1,023,000
 EPS from continuing operations $0.27 $0.18(a)
 Nine Months Ended
 Sept. 30,
 1993 1992
 Net sales $95,786,000 $71,964,000
 Cost of sales 82,817,000 62,813,000
 Gross profit 12,969,000 9,151,000
 Selling, general and
 administration expenses 6,711,000 4,710,000
 Operating income 6,258,000 4,441,000
 Other income (expense) (352,000) 94,000
 Pretax income from continuing
 operations 5,906,000 4,535,000
 Income taxes 1,536,000 999,000
 Net income from continuing
 operations $4,370,000 $3,536,000
 EPS from continuing operations $0.77(a) $0.62(a)
 NOTE: Net income including discontinued operations for three months ended Sept. 30, 1993 was $1,541,000 vs. $1,353,000 for the corresponding period in 1992. Net income including discontinued operations for the nine months ended Sept. 30, 1993 was $4,383,000 vs. $4,993,000 for the corresponding period in 1992.
 (a) On a pro forma basis assuming the shares issued in connection with the spin off were outstanding as of the beginning of each period presented.
 DOVATRON INTERNATIONAL INC.
 Condensed Consolidated Balance Sheets
 Sept. 30, 1993 Dec. 31, 1992
 Assets
 Current Assets:
 Cash $6,031,000 $4,514,000
 Notes receivable 1,295,000 ---
 Trade receivables, net 17,022,000 13,246,000
 Accounts receivable from
 affiliates --- 886,000
 Inventories 13,710,000 10,996,000
 Other current assets 1,484,000 536,000
 Net current assets of
 discontinued operations --- 775,000
 Total current assets 39,542,000 30,953,000
 Property, plant and
 equipment, net 14,844,000 11,510,000
 Other assets, primarily notes
 receivable 1,016,000 613,000
 Total assets $55,402,000 $43,076,000
 Liabilities and Stockholders' Equity
 Current liabilities:
 Trade accounts payable $10,720,000 $8,364,000
 Accounts payable to
 affiliates --- 1,024,000
 Advances from Dover Corp. --- 5,871,000
 Accrued expenses 5,944,000 2,845,000
 Net current liabilities of
 discontinued operations 446,000 ---
 Total current liabilities 17,110,000 18,104,000
 Other long-term liabilities 909,000 902,000
 Stockholders' equity:
 Common stock 57,000 1,000
 Additional paid-in capital 8,874,000 ---
 Retained earnings 28,452,000 24,069,000
 Total stockholders' equity 37,383,000 24,070,000
 Total liabilities and
 stockholders' equity $55,402,000 $43,076,000
 -0- 10/27/93
 /CONTACT: Carl R. Vertuca of DOVatron, 303-772-5933/
 (DOVT)


CO: DOVatron International Inc. ST: Colorado, New York IN: CPR SU: ERN

MC-BB -- DV008 -- 7526 10/27/93 16:56 EDT
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Date:Oct 27, 1993
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