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GEODYNAMICS CORP. ANNOUNCES THIRD QUARTER OPERATING RESULTS

 TORRANCE, Calif., April 14 /PRNewswire/ -- Geodynamics Corp. (NASDAQ: GDYN) announces the unaudited results of operations for the third quarter of its current fiscal year.
 Revenues from operations for the three and nine months ended Feb. 26, 1993 (fiscal 1993) compared favorably to the revenues for the same periods of the prior fiscal year. Revenues were $14.6 million for the third quarter and $43.1 million for the nine- month period, respectively, as compared to $14.3 million and $43.0 million reported for the prior fiscal year.
 Costs and expenses for the third quarter and first nine months of fiscal 1993 were $13.8 million and $40.8 million, down 1.9 percent and up 1.8 percent, respectively, from comparable periods in fiscal 1992. Costs and expenses as a percentage of revenues for the first nine months of fiscal 1993 were 94.8 percent, up slightly from the 93.2 percent in the similar period a year ago. This small reduction in margin represents slight downward revisions in estimates at completion on several programs and start-up expenses for the company's new commercial division which was not operational in 1992.
 Net income and earnings per share (EPS) for the company's third quarter were $481,000 and 20 cents per share for this fiscal year, representing an increase from the $225,000 and 8 cents for the same time period of the prior fiscal year. Net income and EPS for the nine-month period ended Feb. 26, 1993, equaled $1.5 million and 62 cents, respectively, representing a decrease as compared to the $1.98 million and 71 cents reported for the nine months ended Feb. 28, 1992.
 From Jan. 20, 1993, through April 2, 1993, the company has repurchased 92,000 shares of its common stock for an aggregate of $821,450. These shares have been repurchased through open market purchases pursuant to Geodynamics' previously disclosed plan to repurchase up to 400,000 shares. During the period of Jan. 5, 1992, through March 4, 1992, the company repurchased 319,000 shares for an aggregate of $3.2 million. This repurchase program is part of Geodynamics' ongoing effort to maximize the value of its shareholders' investment in the company.
 Geodynamics provides information engineering services and products for government, commercial and international information systems. The company specializes in custom end-to-end systems requirements definition, engineering, software development, commercial off-the-shelf (COTS) hardware and software integration, test, training and maintenance for its customer base.
 -0- 4/14/93
 /CONTACT: Joanne M. Dunlap or David Nelson of Geodynamics, 310-782-7277/
 (GDYN)


CO: Geodynamics Corp. ST: California IN: CPR SU: ERN

LS-JL -- LA005 -- 5508 04/14/93 08:03 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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