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EG&G REPORTS THIRD QUARTER EARNINGS

 WELLESLEY, Mass., Oct. 21 /PRNewswire/ -- EG&G, Inc. (NYSE: EGG) reported third quarter earnings per share of $.27 versus $.39 for the same period last year. Income from operations was $25.1 million compared with $32.2 million for the third quarter in 1992. Over nine months, earnings per share before accounting changes were $.98 against last years $1.10. Income from operations was $85.9 million against $92.9 million for the equivalent period of 1992. In the first quarter of 1993 the Corporation adopted new accounting standards to account for postretirement benefits and income taxes. The combined effect of these accounting changes reduced net income by $20.5 million or $.36 per share.
 The sluggish economies of Western Europe continue to have a negative impact on Instruments and have hampered the rate of improvement of Components. Changing Department of Energy(DOE) requirements are adversely affecting the DOE Support business.
 The Company is pleased to report that Wallac, its recent clinical instruments acquisition is performing beyond expectations. In addition, earlier in the quarter, EG&G announced that it has been selected to remain as Base Operations Contractor at the Kennedy Space Center, for a total potential contract period, including options, of 10 years. This will favorably impact upon the fourth quarter 1993 earnings and those of next year.
 John M. Kucharski, Chairman of EG&G, commented, "The shortfall in third quarter earnings will not be recovered in the fourth quarter. However, we are well positioned to take advantage of any upward movement in our markets. We believe we are maintaining market share in all areas of strategic importance and are continuing our efforts to respond to emerging market demands."
 EG&G is a Fortune 200 company with annual sales of $2.7 billion. It designs and manufactures laboratory and field-test instruments and electronic and mechanical components for commercial customers. EG&G provides systems engineering, precision component manufacturing, and test-site operating and management services to many government agencies and laboratories. It employs 31,000 people worldwide.
 CONSOLIDATED STATEMENT OF INCOME
 EG&G, INC. AND SUBSIDIARIES
 (in thousands except per share data)
 Third Quarter Ended Nine Months Ended
 Oct. 3, Sept. 27, Oct. 3, Sept. 27
 1993 1992 1993 1992
 Sales $746,248 $749,026 $2,057,227 $2,099,606
 Costs and expenses:
 Cost of sales 662,918 658,229 1,797,430 1,833,951
 Selling, general and
 administrative expenses 58,211 58,603 173,943 172,746
 Total costs and expenses 721,129 716,832 1,971,373 2,006,697
 Income from operations 25,119 32,194 85,854 92,909
 Other income (expense), net (1,110) (1,541) (1,432) (3,164)
 Income before income taxes 24,009 30,653 84,422 89,745
 Provision for federal and
 non-U.S. income taxes 8,796 8,557 29,034 27,821
 Income Before Cumulative
 effects of Accounting
 Changes 15,213 22,096 55,388 61,924
 Cumulative Effects of
 Accounting Changes:
 Income taxes --- --- (7,300) ---
 Postretirement
 benefits other than
 pensions --- --- (13,200) ---
 Net income $15,213 $22,096 $34,888 $61,924
 Earnings per share:
 Income Before Cumulative
 Effects of Accounting
 Changes $.27 $.39 $.98 $1.10
 Cumulative Effects of
 Accounting Changes:
 Income taxes --- --- (.13) ---
 Postretirement
 benefits other than
 pensions --- --- (.23) ---
 Net income $.27 $.39 $.62 $1.10
 Weighted average shares
 of common stock
 outstanding 56,219 56,110 56,477 56,354
 All figures shown are subject to year-end audit.
 SALES AND INCOME FROM OPERATIONS BY INDUSTRY SEGMENT
 EG&G, Inc. and Subsidiaries
 (In thousands)
 Third Quarter Ended Nine Months Ended
 Oct. 3, Sept. 27, Oct. 3, Sept. 27,
 1993 1992 1993 1992
 Sales:
 Instruments $60,966 $54,413 $163,637 $160,229
 Components 75,520 83,220 233,904 224,482
 Technical Services 100,936 98,676 297,301 275,700
 Aerospace 21,495 25,622 68,706 84,149
 Defense 67,584 68,281 199,712 195,027
 Department of Energy
 Support 419,747 418,814 1,093,967 1,160,019
 Total $746,248 $749,026 $2,057,227 $2,099,606
 Income From Operations:
 Instruments $658 $3,242 $2,903 $8,869
 Components 5,340 3,874 13,307 10,807
 Technical services 11,591 10,705 34,377 25,831
 Aerospace 1,317 1,333 3,344 5,263
 Defense 5,203 6,868 16,871 16,699
 Department of Energy
 Support 7,784 12,661 35,477 46,393
 General Corporate
 Expenses (6,774) (6,489) (20,425) (20,953)
 Total $25,119 $32,194 $85,854 $92,909
 ----
 All figures shown are subject to year-end audit.
 -0- 10/21/93
 /CONTACT: Deborah S. Lorenz, EG&G, Inc., 617-431-4306/
 (EGG)


CO: EG&G, Inc. ST: Massachusetts IN: CPR SU: ERN

CM-JL -- NE012 -- 5261 10/21/93 13:05 EDT
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Date:Oct 21, 1993
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