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GENERAL MAGNAPLATE CORPORATION ISSUES YEAR-END REPORT 1992

 GENERAL MAGNAPLATE CORPORATION ISSUES YEAR-END REPORT 1992
 LINDEN, N.J., Sept. 4 /PRNewswire/ -- General Magnaplate Corporation (NASDAQ: GMCC), a pioneer and recognized leader in surface enhancements for industrial markets, reports the results of revenue and earnings for the year ended June 30, 1992.
 Candida C. Aversenti, president and COO, stated that the decrease in revenues was due largely to the loss of a contract from a major computer company at the end of last year. In spite of the economic downturn, the company has maintained its position with other market segments.
 Condensed Statement of Income Years ended June 30
 1991 1992
 Gross revenue $10,801,832 $8,690,238
 Income before taxes 1,978,563 401,277
 Net income 1,242,059 194,429
 Net income per share $.40 $.06
 Average shares outstanding 3,092,844 3,078,148
 Condensed Statement of Income Three Months ended June 30
 Gross revenue $2,738,363 $2,134,207
 Income before taxes 638,388 59,130
 Net income 409,684 (14,055)
 Net income per share $.13 $.00
 Average shares outstanding 3,092,844 3,078,148
 -0- 9/4/92
 /CONTACT: Candida C. Aversenti of General Magnaplate, 908-862-6200/
 (GMCC) CO: General Magnaplate Corporation ST: New Jersey IN: SU: ERN


AH-KD -- NY055 -- 7077 09/04/92 16:32 EDT
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Publication:PR Newswire
Date:Sep 4, 1992
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