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DRS INDUSTRIES, INC. REPORTS RESULTS FOR QUARTER

 NEW YORK, March 15 /PRNewswire/ -- DRS Industries, Inc., announced that it is filing today its report on Form 10-Q reporting the company's results for the quarter ended Jan. 31, 1993.
 Excluding the results of Family Bargain Center, its recently acquired off-price retail apparel subsidiary, which are presented on a pro forma basis below, the company reported net revenues for the quarter of $12,534,000 and a net loss of $585,000 ($.05 per share).
 The company's pro forma quarterly results give effect to the acquisition of Family Bargain Center. On a pro forma basis, the company reported net revenues for the quarter of $47,864,000, operating income of $2,525,000, and net income of $802,000 ($.07 per share). For the same period last year, the company would have reported net revenues of $63,095,000, an operating loss of $72,000, and a net loss of $3,992,000 ($1.18 per share).
 A company spokesman said that pending the final confirmation of Family Bargain Center's reorganization, which will require an investment of $3,000,000 by the company, the company will continue to report Family Bargain Center's earnings on a pro forma basis. The company is seeking to raise the necessary funding for Family Bargain Center's reorganization.
 Due to the seasonal nature of the company's businesses, the quarter ended Jan. 31 represents the most profitable quarter of the fiscal year.
 -0- 3/15/93
 /CONTACT: John A. Selzer of DRS Industries, 212-980-9670/


CO: DRS Industries, Inc. ST: New York IN: REA SU:

GK-OS -- NY067 -- 8788 03/15/93 14:43 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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