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EXIDE ELECTRONICS GROUP, INC. ANNOUNCES RECORD SECOND QUARTER FISCAL 1992 REVENUES

 EXIDE ELECTRONICS GROUP, INC.
 ANNOUNCES RECORD SECOND QUARTER FISCAL 1992 REVENUES
 RALEIGH, N.C., April 30 /PRNewswire/ -- Exide Electronics Group, Inc. (NASDAQ-NMS: XUPS), the largest dedicated manufacturer of power protection products and services, today reported record second quarter and first half revenues for the fiscal year ending September 30, 1992. The Company's results also reflected significant operating improvements over the prior year's performance.
 Revenues for the quarter ending March 31, 1992, were $50,331,000, up 11.9 percent from revenues of $44,969,000 for the second quarter of fiscal 1991. Net income of $865,000 compared to a net loss of $1,382,000 for the corresponding period a year ago.
 Revenues for the first half of fiscal 1992 were $94,214,000 compared to $85,448,000 last year, an increase of 10.3 percent. Net income of $1,108,000 compared to a net loss of $4,307,000 for the corresponding period a year.
 Earnings per share were $0.14 for the second quarter of fiscal 1992, compared with a net loss per share of $0.25 for the second quarter of fiscal 1991, based on 5,542,000 and 5,447,000 weighted average shares outstanding, respectively. Earnings per share were $0.17 for the first six months of fiscal 1992, compared to a net loss per share of $0.79 for the first six months of fiscal 1991, based on 5,490,000 and 5,434,000 weighted average shares outstanding, respectively.
 James A. Risher, President and Chief Executive Officer, attributed the significant improvement over the prior year to a number of factors. "We are continuing to experience good overall revenue growth with an exceptionally strong international performance. From a market perspective, we are seeing tremendous acceptance for our new small system offerings aimed at the workstation, LAN and office environments. Our high performance large systems and support services are also doing well based on our major government contracts and the strong demand for large power systems aimed at providing the ultimate in system availability and reliability. Our overall revenue growth, however, is being moderated somewhat by the economic recession and a slowdown in spending for midrange systems. Our strong performance during the first half of fiscal 1992 reflects the repositioning of the Company over the past twelve to eighteen months to improve profitability and to better serve the high growth markets. Higher margin products including the Powerware(R) Plus 6, 12, and 18 and the introduction of 10 new models across the entire Powerware product line contributed to excellent revenue growth over last year. That, coupled with significantly improved manufacturing operations, favorably impacted gross profit." Gross profit margin for the first six months was 27.1 percent versus 22.0 percent for the first six months of fiscal 1991.
 Risher added, "We continue to make significant progress towards optimizing operating expenses using the programs which were initially implemented during fiscal 1991. These operating efficiencies were somewhat offset by foreign exchange losses in the second quarter resulting from a stronger dollar, offsetting exchange gains recorded in the first quarter."
 Risher also noted that demand for products and services remains encouraging. Total backlog increased to approximately $76 million at March 31, 1992, from $60 million a year ago. During April, the Company received additional delivery orders for approximately $30 million from the FAA as part of the previously announced Air Route Traffic Control Modernization Program. These new orders cover equipment, service and support for two new sites and additional expenditures for eight of the ten sites previously announced. In total, the FAA plans to replace the uninterruptible power systems at 26 locations. Cumulative orders to Exide Electronics now exceed $90 million for the multi-year program.
 In February 1992, the Financial Accounting Standards Board (FASB) issued Statement No. 109, "Accounting for Income Taxes," which supersedes existing standards, including FASB Statement No. 96, "Accounting for Income Taxes," the standard followed by the Company. Statement 109 is effective for fiscal years beginning after December 15, 1992, and can be adopted earlier. The Company is currently evaluating the impact and timing of its adoption of FASB 109 and anticipates that adoption will be favorable, primarily due to recording the net estimated benefit of certain tax credit and net operating loss carryforwards.
 Exide Electronics is the largest company in the world dedicated exclusively to developing and manufacturing a full line of power protection systems. Headquartered in Raleigh, N.C., Exide Electronics responds to the power protection needs of a broad range of businesses and institutions worldwide, including many Fortune 1000 companies. Exide Electronics products are used for financial, medical, industrial, telecommunications, military and aerospace applications - wherever continuous power is essential to daily operations.
 EXIDE ELECTRONICS GROUP, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (in thousands, except per share data)
 (unaudited)
 Three Months Ended Six Months Ended
 March 31, March 31, March 31, March 31,
 Revenues 1992 1991 1992 1991
 Products $38,708 $35,646 $72,963 $67,489
 Services 11,623 9,323 21,251 17,959
 Total Revenues 50,331 44,969 94,214 85,448
 Cost of revenues
 Products 29,912 29,842 56,339 57,009
 Services 6,829 4,888 12,320 9,654
 Total cost of services 36,741 34,730 68,659 66,663
 Gross Profit 13,590 10,239 25,555 18,785
 Selling, general and
 administrative expense 9,138 9,461 18,613 20,919
 Research and development
 expense 1,718 1,828 3,433 3,819
 Income (loss) from
 operations 2,734 (1,050) 3,509 (5,953)
 Interest expense 1,116 1,140 2,216 2,188
 Interest income (247) (173) (316) (368)
 Other (income) expense 593 211 (21) 336
 Income (loss) before income
 taxes and the cumulative
 prior years' effect of
 change in accounting
 principle 1,272 (2,228) 1,630 (8,109)
 Provision for (benefit
 from) income taxes 407 (846) 522 (3,082)
 Income (loss) before the
 cumulative prior years'
 effect of change in
 accounting principle 865 (1,382) 1,108 (5,027)
 Cumulative prior years'
 effect of change in
 accounting for direct
 costs associated with
 deferred revenues, net
 of income tax effect of $441 - - - 720
 Net income (loss) 865 (1,382) 1,108 (4,307)
 Preferred dividend
 requirements 98 - 199 -
 Net income (loss)
 available to common stock $767 $(1,382) $909 (4,307)
 Income (loss) per share
 before the cumulative
 prior years' effect of
 change in accounting
 principle $0.14 $(0.25) $0.17 $(0.92)
 Per share cumulative prior
 years' effect of change
 in accounting principle - - - 0.13
 Net income (loss) per
 common share $0.14 $(0.25) $0.17 $(0.79)
 Weighted average number
 of common and
 equivalent shares
 outstanding 5,542 5.447 5,490 5,434
 -0- 4/30/92
 /CONTACT: Media - Karin Cram, Corporate Communications, 919-870-3239, or Investor - Marty R. Kittrell, Chief Financial Officer, 919-872-3020, both of Exide Electronics Group, Inc./
 (XUPS) CO: Exide Electronics Group, Inc. ST: North Carolina IN: CPR SU: ERN


DF -- CH010 -- 5230 04/30/92 18:18 EDT
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