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ELECTROMAGNETIC SCIENCES, INC. ANNOUNCES FINANCIAL RESULTS FOR 1991

 ELECTROMAGNETIC SCIENCES, INC. ANNOUNCES FINANCIAL RESULTS FOR 1991
 ATLANTA, Jan. 27 /PRNewswire/ -- Electromagnetic Sciences, Inc. (NASDAQ: ELMG) today reported net earnings of $1,232,000 for the fourth quarter of 1991, compared with net earnings of $780,000 for the fourth quarter of 1990.
 Earnings per share were $.16 for the fourth quarter of 1991, compared with $.11 per share for the fourth quarter of 1990. Consolidated net sales for the fourth quarter were $19.3 million in the 1991 period compared with $19.7 million in the 1990 period.
 For the year ended Dec. 31, consolidated net sales were $75.3 million compared with $65.7 million for the year 1990. Net earnings for the year 1991 were $6,401,000 or $.84 per share and included earnings from continuing operations of $7,456,000 (including a gain on the sale of LXE stock of $3,638,000 on an after-tax basis), a net loss from discontinued operations of $1,425,000, and a gain from a change in accounting principle of $370,000. For the year 1990, the company incurred a net loss of $879,000 or $.12 per share, including a loss from continuing operations of $669,000 and a loss from discontinued operations of $210,000.
 The consolidated backlog for continuing operations at Dec. 31 was $41.8 million, compared with $41.6 million at the beginning of the fourth quarter and $51.6 million at the beginning of 1991.
 Electromagnetic Sciences, Inc. designs and produces microwave systems, subsystems, and components for communications, surveillance, radar and countermeasures applications. Through its LXE subsidiary, the company designs and produces radio-linked data communications systems for real-time transaction processing in materials handling operations.
 ELECTROMAGNETIC SCIENCES, INC.
 Summary of Consolidated Financial Data
 (In thousands, except earnings per share)
 Qtr. ended 9 mos. ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Net sales $ 19,341 $ 19,682 $ 75,340 $ 65,663
 Cost of sales 10,902 14,001 46,507 46,600
 Gross profit 8,439 5,681 28,833 19,063
 Selling, general and
 administrative expenses 4,333 3,431 15,827 12,413
 Research and development
 expenses 1,939 1,106 6,609 4,531
 Restructuring charge --- --- --- 3,400
 Operating income 2,167 1,144 6,397 (1,281)
 Gain on LXE stock --- --- 5,867 ---
 Interest and other income 241 120 869 399
 Interest expense (36) (49) (163) (195)
 Earnings before taxes and
 minority interest 2,372 1,215 12,970 (1,077)
 Income tax expense 881 463 4,909 (408)
 Minority interest 259 --- 605 ---
 Earnings from continuing
 operations 1,232 752 7,456 (669)
 Discontinued operations
 net of taxes --- 28 (1,425) (210)
 Accounting change --- --- 370 ---
 Net earnings $ 1,232 $ 780 $ 6,401 $ (879)
 Earnings per share:
 From operations $ .16 $ .11 $ .50 $ (.09)
 Gain on LXE --- --- .48 ---
 Continuing operations .16 .11 .98 (.09)
 Discontinued operations --- --- (.19) (.03)
 Accounting change --- --- .05 ---
 Total $ .16 $ .11 $ .84 $ (.12)
 Weighted average shares 7,718 7,130 7,605 7,111
 Condensed Consolidated Balance Sheet
 Dec. 31, 1991
 Cash and marketable Current liabilities $ 10,479
 securities $ 16,501
 Receivables 20,144 Long-term debt 985
 Inventories 7,099 Other liabilities 4,775
 Net property, plant Minority interest in
 and equipment 27,504 subsidiary 5,836
 Other assets 1,995 Shareholders' equity 51,168
 Total $ 73,243 Total $ 73,243
 -0- 1/27/92
 /CONTACT: Don T. Scartz, vice president - Finance, for Electromagnetic Sciences, 404-263-9200/
 (ELMG) CO: Electromagnetic Sciences, Inc. ST: Georgia IN: CPR SU: ERN


BR-BN -- AT009 -- 3786 01/27/92 13:08 EST
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Date:Jan 27, 1992
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