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GRAYHOUND ELECTRONICS REPORTS HIGHER FIRST QUARTER RESULTS AND MAJOR NEW PRODUCT INTRODUCTIONS FOR INTERNATIONAL MARKETS

 TOMS RIVER, N.J., April 26 /PRNewswire/ -- Grayhound Electronics, Inc. today reported that for the first quarter through Feb. 28, 1993, revenues increased 30 percent to $1.7 million, over the similar quarter in 1992 while Grayhound's net income more than doubled to over $114,000.
 For the company's fiscal year through Nov. 30, 1992 total revenues were $5.6 million, with a net loss of $8,000 or about one cent a share, compared with sales of $7.4 million and a loss of $420,000 or 5 cents a share, during fiscal year 1991.
 According to Chairman Thomas M. Ricci: "We already have seen signs of an upturn for Grayhound's sales and profits here in the first quarter of 1993. This is a continuation of the upward trend that started in the fourth quarter of 1992. With the introduction of our new products Grayhound is definitely back on the growth track.
 "Some of our key new products this year include instant lottery ticket dispensers, debit card dispensers, double challenge basketball game, Casino Royale and Video Lottery terminals. Meanwhile our shark pool tables and redesigned jumbo cranes are obtaining steady customer acceptance. Our talented management team looks forward to increasing sales in the U.S. and the international amusement market from Latin America to Asia as well."
 Grayhound Electronics is a manufacturer and international distributor of con-operated amusement games, with a customer list that includes major retail chain store groups.
 -0- 4/26/93
 /CONTACT: Thomas M. Ricci, chairman of Grayhound Electronics, Inc., 908-341-5200/


CO: Grayhound Electronics, Inc. ST: New Jersey IN: CPR SU: ERN

AH-TS -- NY052 -- 0602 04/26/93 10:59 EDT
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Date:Apr 26, 1993
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