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GERBER SCIENTIFIC REPORTS EARNINGS

 SOUTH WINDSOR, Conn., Aug. 23 /PRNewswire/ -- Gerber Scientific, Inc. (NYSE: GRB) today reported higher first quarter operating results. Consolidated sales for the first quarter ended July 31, 1993, were $64,932,000 compared with $62,422,000 for the same period last year, an increase of 4 percent. Consolidated net earnings for the three months ended July 31, 1993, were $2,674,000 compared with net earnings of $1,478,000 in the same period of last year. Net earnings per share in this year's first quarter were $.11 compared with $.06 last year based on average shares outstanding of 23,986,000 this year and 23,899,000 last year.
 Included in this year's first quarter was a $788,000 gain ($.03 per share) the company realized on adopting the method of accounting for income taxes required by Statement of Financial Accounting Standards No. 109. This gain was recognized in earnings as the cumulative effect of an accounting change.
 The company received new orders totaling $64,400,000 in the three months ended July 31, 1993, compared with $59 million for the same period last year, an increase of 9 percent. Backlog was $50,200,000 at July 31, 1993, compared with $54 million a year earlier.
 The company remains financially strong with high liquidity and a low ratio of debt-to-equity. At July 31, 1993, shareholders' equity was $217,400,000, or $9.13 per share; cash and investments totaled $92,500,000; and total debt amounted to only $8,061,000, or 3.7 percent of shareholders' equity.
 Gerber Scientific, Inc. provides high-technology factory automation capital equipment for a variety of industries.
 GERBER SCIENTIFIC, INC.
 Consolidated Summary of Earnings
 Three Months Ended July 31 1993 1992
 Sales $64,932,000 $62,422,000
 Earnings before income taxes 2,786,000 2,278,000
 Provision for income taxes (900,000) (800,000)
 Net earnings before cumulative
 effect of accounting change 1,886,000 1,478,000
 Cumulative effect of accounting
 change 788,000 --
 Net earnings 2,674,000 1,478,000
 Earnings per share:
 Before cumulative effect of
 accounting change $.08 $.06
 Cumulative effect of accounting
 change .03 --
 Net earnings per share $.11 $.06
 Average shares outstanding 23,986,000 23,899,000
 -0- 8/23/93
 /CONTACT: Robert D. Lipira of Gerber Scientific, 203-644-1551/
 (GRB)


CO: Gerber Scientific, Inc. ST: Connecticut IN: MTC SU: ERN

SM-PS -- NY003 -- 4912 08/23/93 08:15 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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