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E-SYSTEMS REPORTS FIRST HALF RESULTS

 E-SYSTEMS REPORTS FIRST HALF RESULTS
 DALLAS, July 13 /PRNewswire/ -- E-Systems, Inc. (NYSE: ESY) today


reported second quarter earnings of 90 cents a share on sales of $486 million compared to 1991 second quarter earnings of 82 cents a share on sales of $473 million. Second quarter net income reached $29.4 million, up from $26.7 million a year ago.
 Sales for the first half of this year were $983 million vs. 1991 first half sales of $949 million. Six months net income was $57.0 million, or $1.74 a share, compared to net income of $51.6 million, or $1.59 a share, a year ago.
 Bookings of firm new orders during the second quarter amounted to $386 million vs. second quarter bookings of $418 million last year. Backlog of unfilled orders at the end of June was $2.131 billion compared to $2.203 billion for the same period a year ago.
 E. Gene Keiffer, E-Systems chairman and chief executive officer, said, "Sales and earnings were up and pre-tax profit margins continued to improve. However, new order bookings were below expectations."
 "Bookings were off primarily because production approval for the German Air Force Electronic Communications System (also known as the EGRETT program) has been delayed until later this fall," Keiffer said.
 E-Systems is a major worldwide developer and producer of electronics systems and products in the areas of intelligence, reconnaissance and surveillance systems, command and control, electronic warfare, specialized aircraft maintenance and modification, guidance, navigation and control, communications and data systems.
 E-SYSTEMS, INC.
 Statement of Operating Results
 (In thousands except per share data)
 (Unaudited)
 Three months ended in June 1992 1991
 Sales $486,203 $473,190
 Operating profit 45,730 39,573
 Investment income 849 2,884
 Interest expense (1,846) (2,185)
 Other (expense)/income (1,135) (1,553)
 Income before tax 43,598 38,719
 Net Income 29,429 26,716
 Earnings per share (A) $.90 $0.82
 Bookings 386,121 418,155
 Backlog $2,131,333 $2,202,833
 Six months ended in June 1992 1991
 Sales $983,442 $949,380
 Operating profit 88,816 79,020
 Investment income 1,648 3,583
 Interest expense (3,671) (4,606)
 Other (expense)/income (2,402) (3,214)
 Income before tax 84,391 74,783
 Net income 56,964 51,600
 Earnings per share (A) $1.74 $1.59
 Bookings $605,558 $665,143
 Common equivalent shares 32,773 32,539
 (A) Earnings per share include average shares outstanding and the
 effect of dilutive options outstanding.
 -0- 7/13/92
 /CONTACT: John E. Kumpf of E-Systems, 214-392-4923/
 (ESY) CO: E-Systems, Inc. ST: Texas IN: CPR SU: ERN


TQ -- NY022 -- 8523 07/13/92 09:54 EDT
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Date:Jul 13, 1992
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