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ESCO ELECTRONICS REPORTS THIRD QUARTER PROFIT VS. NET LOSS IN YEAR-EARLIER PERIOD

 ESCO ELECTRONICS REPORTS THIRD QUARTER
 PROFIT VS. NET LOSS IN YEAR-EARLIER PERIOD
 ST. LOUIS, Aug. 3 /PRNewswire/ -- ESCO Electronics Corporation (NYSE: ESE) reported net income of $212,000, or $0.02 per share, for the third quarter ended June 30, 1992, vs. a net loss of $1.5 million, or $0.13 per share, for the third quarter of the prior year.
 As expected, the company reported a sales decline during the third quarter primarily due to the low order volume experienced in fiscal 1991. Net sales for the third quarter of fiscal 1992 were $92,049,000 compared with $135,920,000 for the third quarter of the previous year.
 For the nine months ended June 30, 1992, ESCO's net income improved to $979,000, or $0.09 per share, compared with a net loss of $826,000, or $0.07 per share, for the first nine months a year ago. The company reported net sales of $281,151,000 for the nine months ended June 30, 1992, vs. $387,161,000 for the prior-year period.
 Fiscal 1992 third quarter orders increased to $201 million from $83 million for the third quarter of fiscal 1991. Total orders for the nine months more than doubled to $393 million from $196 million for the fiscal 1991 comparable period.
 ESCO's backlog at June 30, 1992, was $637.7 million vs. $502.6 million at June 30, 1991. In addition, the company continued to reduce the fixed-price development portion of its total backlog.
 During the nine months ended June 30, 1992, ESCO fully repaid its long-term debt of approximately $18 million and ended the quarter with no outstanding debt. At June 30, 1992, the company's cash and cash equivalents were approximately $2 million. Cash flow was affected during the third quarter of fiscal 1992 by increased inventories on certain fixed-price development contracts as they moved into production. In addition, the company experienced delays in the receipt of progress payments on some of its contracts.
 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 June 30 1992 1991
 Net sales $92,049 $135,920
 Earnings (loss) before income taxes 388 (1,427)
 Income taxes 176 73
 Net earnings (loss) 212 (1,500)
 Earnings (loss) per common share $.02 $(.13)
 Nine months ended June 30 1992 1991
 Net sales $281,151 $387,161
 Earnings before income taxes 1,505 1,842
 Income taxes 526 2,668
 Net earnings (loss) 979 (826)
 Earnings (loss) per common share $.09 $(.07)
 -0- 8/3/92
 /CONTACT: James R. Orso, 314-982-1700, for ESCO Electronics/
 (ESE) CO: ESCO Electronics Corporation ST: Missouri IN: ARO SU: ERN


CK -- NY068 -- 6271 08/03/92 15:46 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
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