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ESSEX CORPORATION REPORTS $867,000 OPTOELECTRONICS FUNDING ADDITION

 COLUMBIA, Md., Sept. 1 /PRNewswire/ -- Essex Corporation (NASDAQ-NMS: ESEX) is reporting the award of additional funding of $867,000 by the Department of Defense for optoelectronic research and development. Total contract value is now $1.4 million and the period of performance has been extended to December 1994. The work is being performed by the company's information systems division in Columbia.
 Harry Letaw, chairman and CEO of Essex, stated: "We are pleased to report additions to backlog at this time. The company's operating results are expected to improve as revenues grow. In recent periods, Essex has been unable to recover costs of our product development program because of a reduced revenue base. New contracts and funding additions such as this and others recently announced contribute to improve operating results."
 Essex Corporation, a publicly traded, technology-based company, supplies human reliability assurance and training products and services and optical computer apparatus to government and industry.
 -0- 9/1/93
 /CONTACT: Harry Letaw Jr., chairman and CEO, Essex Corporation, 410-730-1097/
 (ESEX)


CO: Essex Corporation ST: Maryland IN: CPR SU:

DC-KD -- DC017 -- 8042 09/01/93 14:59 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:185
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