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FSI INTERNATIONAL ANNOUNCES FOURTH-QUARTER GAINS, STRONG INCREASE IN BACKLOG

 FSI INTERNATIONAL ANNOUNCES FOURTH-QUARTER GAINS,
 STRONG INCREASE IN BACKLOG
 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- FSI International, Inc. (NASDAQ: FSII), today reported its financial results for the fourth quarter and fiscal year, ended Aug. 29, 1992.
 For the fourth quarter, sales were $15.6 million, up 38 percent from $11.3 million in the year-earlier period. The company's net income totaled $432,000, or $.10 per share, up significantly from $31,000, or $.01 per share, last year.
 For the year, FSI's sales totaled $46.9 million, compared with $45.0 million in 1991. The company had a net loss of $3.0 million in both years, or $.72 per share in 1992 versus $.75 per share in the prior year.
 According to FSI President, Chairman and Chief Executive Officer Joel Elftmann, "We are pleased with the quarter-to-quarter improvement in revenues and earnings we have seen in fiscal 1992. Also during the year, we received orders for 23 POLARIS(TM) Microlithography Cluster Tools, which sell for between $800,000 and $1.5 million, depending on features."
 The company's backlog increased in fiscal 1992 in all three of its core businesses: surface conditioning products, chemical management systems and microlithography cluster tools. Elftmann said, "We began fiscal 1992 with a backlog of $8.6 million and are entering fiscal 1993 with a backlog of approximately $30 million, including 13 POLARIS Cluster Tools." Although the orders can be canceled or delayed by customers, the higher backlog is expected to have a positive effect on FSI's revenues in the first half of fiscal 1993.
 Concluded Elftmann, "Despite the slow worldwide economic recovery, certain semiconductor manufacturers have announced new manufacturing facilities and expansions. While considerable pricing pressures remain in a highly competitive environment, we expect to benefit from this activity and from our higher backlog in fiscal 1993. Our ongoing challenge will be to improve profit margins while continuing to control operating expenses."
 FSI International, Inc. is a leader in producing automated surface conditioning equipment for processing silicon wafers. The company develops, manufactures, markets and services spray processing systems, vapor phase processing systems, photoresist processing cluster tools, and chemical management systems for use in the fabrication of advanced semiconductor integrated circuits. FSI's customers include semiconductor manufacturers located throughout North America, Europe, Japan and the Far East.
 FSI INTERNATIONAL, INC.
 SUMMARY CONSOLIDATED FINANCIAL DATA
 (In Thousands, Except Per Share Data)
 Fourth Quarter Ended Year Ended
 Aug. 29, Aug. 31, Aug. 29, Aug. 31,
 1992 1991 1992 1991
 INCOME STATEMENT DATA:
 Sales $15,572 $11,325 $46,879 $44,957
 Gross Profit 6,249 4,671 18,770 17,169
 Selling, General &
 Administrative Expenses 2,855 2,620 10,810 12,073
 Research & Development
 Expenses 2,747 2,003 9,740 8,357
 Operating Income (Loss) 647 48 (1,780) (3,261)
 Interest Expense (192) (181) (465) (438)
 Other Income (Expense) - Net 10 27 48 22
 Income (Loss) Before
 Income Taxes 465 (106) (2,197) (3,677)
 Income Tax Expense
 (Benefit) 125 -- 392 (616)
 Equity in Earnings (Loss)
 of Affiliates 92 137 (373) 40
 Net Income (Loss) 432 31 (2,962) (3,021)
 Net Income (Loss) Per
 Common Share $.10 $.01 $(.72) $(.75)
 Weighted Average
 Common Shares 4,467 4,188 4,141 4,036
 Aug. 29, Aug. 31,
 1992 1991
 BALANCE SHEET DATA:
 Assets:
 Receivables - Net $13,434 $ 9,096
 Inventories 13,330 7,745
 Total Current Assets 29,064 20,425
 Total Assets 36,151 27,079
 Liabilities and Equity:
 Short-Term Debt 4,842 132
 Total Current Liabilities 18,144 7,112
 Long-Term Debt 866 304
 Stockholders' Equity 17,141 19,663
 -0- 10/22/92
 /CONTACT: Benno Sand of FSI, 612-448-8936; or Marian Briggs of Padilla Speer Beardsley, 612-871-8877, for FSI/
 (FSII) CO: FSI International, Inc. ST: Minnesota IN: SU: ERN


KH -- MN009 -- 3419 10/22/92 10:17 EDT
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Date:Oct 22, 1992
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