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ESCO ELECTRONICS REPORTS FISCAL YEAR 1992 FIRST QUARTER RESULTS

 ESCO ELECTRONICS REPORTS FISCAL YEAR 1992 FIRST QUARTER RESULTS
 ST. LOUIS, Feb. 3 /PRNewswire/ -- ESCO Electronics Corporation (NYSE: ESE) announced today that net earnings of $533,000, or $0.05 per share, were recorded for the first fiscal quarter ended Dec. 31, 1991, vs. net earnings of $466,000, or $0.04 per share for the first quarter of the prior year. Sales were $96,391,000, compared with $124,459,000 a year ago.
 Orders received during the first three months of fiscal 1992 increased to $75.7 million from $51 million for the same period in 1991. The backlog of firm orders at Dec. 31, 1991, was $505.2 million compared with $525.8 million at Sept. 30, 1991. The current backlog includes approximately $130 million of fixed-price development contracts that are moving from development to production.
 J.J. Adorjan, chairman and chief executive officer, said that ESCO expects to return to profitability in fiscal 1992. However, profit margins will be depressed due to shipments associated with certain fixed-price development contracts that were written down to break-even levels in the fourth quarter of 1991.
 Sales are expected to decline in fiscal 1992 due to the lower level of new orders recorded in the prior year.
 Orders for fiscal 1992 are expected to improve compared with fiscal 1991 based on the level of orders received in the first quarter of this fiscal year.
 In addition, the company plans to continue its aggressive asset management program and end the year in a strong financial position.
 ESCO Electronics Corporation, headquartered in St. Louis, is principally a manufacturer of defense systems and products.
 ESCO ELECTRONICS CORPORATION AND SUBSIDIARIES
 Consolidated Operating Results
 (Dollars in thousands, except per-share amounts)
 Three months ended Dec. 31 1991 1990
 Net sales $96,391 $124,459
 Earnings before income taxes 642 1,923
 Income taxes 109 1,457
 Net earnings 533 466
 Earnings per common share (A) $.05 $.04
 (A) -- Based upon the weighted average of common shares outstanding during the period.
 -0- 2/3/92
 /CONTACT: Timothy J. Beecher or James R. Orso, 314-982-1700, both for ESCO Electronics/
 (ESE) CO: ESCO Electronics Corporation ST: Missouri IN: CPR SU: ERN


CK -- NY063 -- 6198 02/03/92 12:33 EST
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Date:Feb 3, 1992
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