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GENERAL KINETICS REPORTS SECOND QUARTER RESULTS

 GENERAL KINETICS REPORTS SECOND QUARTER RESULTS
 HERNDON, Va., Jan. 22 /PRNewswire/ -- General Kinetics


Incorporated (GKI) (AMEX: GKI), a designer, producer and marketer of high-end, digital secure facsimile equipment and precision enclosures headquartered in Herndon, today reported second quarter results showing a loss for the six and the three months ended Nov. 30, 1991. The net loss for the six months ended Nov. 30, 1991, was $238,700, or 11 cents per share. The net loss for the three months ended Nov. 30, 1991, was $634,000, or 30 cents per share.
 Operations for the six months ended Nov. 30, 1991, and 1990, are summarized as follows:
 FY 1992 FY 1991
 Revenues $9,157,400 $10,445,100
 Operating Income $ 213,200 $ 1,519,000
 Net Income (Loss) ($238,700) $ 811,100
 Earnings (Loss) Per Share ($0.11) 0.43(A)
 Weighted Average Number
 of Shares Outstanding 2,124,500 1,884,000(A)
 (A) Adjusted for 3/25/91 stock split in the form of a 100 percent stock dividend.
 Operations for the three months ended Nov. 30, 1991, and 1990, are summarized as follows:
 FY 1992 FY 1991
 Revenues $3,746,300 $ 5,283,200
 Operating Income ($487,300) $ 851,200
 Net Income (Loss) ($634,200) $ 436,100
 Earnings (Loss) Per Share ($0.29) 0.22(A)
 Weighted Average Number
 of Shares Outstanding 2,119,300 2,004,000(A)
 (A) Adjusted for 3/25/91 stock split in the form of a 100 percent stock dividend.
 Operations were adversely affected by shipping delays in the Cryptek Secure Communications Division. These delays were caused by problems incurred by a change in the production process, implemented during the second quarter. Prior to this production change, the company produced its facsimile machines by modifying and partially assembling and testing a facsimile unit manufactured by a third party. Presently, the company performs complete in-house manufacturing, assembly and test of its facsimile products. Management believes that these problems have been resolved and the company has again resumed the shipment of finished product to its customers.
 Additionally, the company has charged off approximately $368,000 of expenses incurred in connection with a proposed public offering of its common stock which has been postponed. These expenses were charged off due to the uncertainties involved in completing the proposed offering due to the operating results of the quarter ended Nov. 30, 1991. This charge-off increased the net loss by approximately $240,000 or 11 cents per share. The company is seeking to raise $3-5 million from the private placement of debt or equity or some combination thereof.
 GKI's Cryptek Secure Communications Division, located in Herndon, is a leader in the design and production of secure facsimile machines and related equipment. Additionally, GKI manufactures precision machined and fabricated electronic enclosures at its operations in Johnstown, Pa., and Orlando, Fla.
 -0- 1/22/92
 /CONTACT: David A. Shaw, president, General Kinetics, 703-478-9444/
 (GKI) CO: General Kinetics Incorporated ST: Virginia IN: CPR SU: ERN


MH-DC -- DC014 -- 2260 01/22/92 11:44 EST
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Date:Jan 22, 1992
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