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GRC INTERNATIONAL, INC. REPORTS FIRST QUARTER 1994 RESULTS

 VIENNA, Va., Oct. 28 /PRNewswire/ -- GRC International, Inc. (NYSE: GRH) today announced earnings for the first quarter of fiscal year 1994, ended September 30, 1993.
 Income for the first quarter was $1,485,000, or $.16 per share, before cumulative effect of an accounting change of $1,000,000, or $.11 per share. After consideration of the accounting change, net income was $2,485,000, or $.27 per share. During the comparable period of fiscal year 1993, net income was $1,204,000, or $.13 per share. The accounting change is related to the company's adoption of SFAS No. 109.
 For the first quarter, GRC International reported revenues of $30,780,000, compared to revenues of $31,044,000 for the first quarter of fiscal year 1993.
 "We are pleased with the effects last fiscal year's consolidation and reorganization efforts are having in reducing our costs, and the overall reflection of this improvement in the quarter's higher earnings," said Jim Roth, President and Chief Executive Officer of GRC International. "We are now spreading these benefits across an improved business base generated by a contract backlog (excluding options) that continues to be approximately one years revenues and our total backlog (including all options) of approximately three years' revenues. These factors are enabling GRC International to become more competitive in its bids, and we expect that they will provide the basis for continued success in 1994 and beyond."
 GRC International, Inc., headquartered in Vienna, is an internationally recognized provider of professional and technical services to military, civil and commercial clients. As a leader in knowledge-based services and high-quality, technical solutions, GRCI has gained prominence for innovation in complex information systems, advanced technology development, interactive multi-media training, materials testing and other decision-support and productivity- enhancement products and services. General Research Corporation and SWL Inc. are wholly owned subsidiaries of the Company. GRCI is listed on the Now York and Pacific Stock Exchanges under the symbol GRH.
 GRC INTERNATIONAL, INC.
 Financial Highlights
 Periods Quarter
 ended Sept. 30 1993 1992
 Revenues $30,780,000 $31,044,000
 Income Before Cumulative Effect
 Of Accounting Change $ 1,485,000 $ 1,204,000
 Cumulative Effect Of Accounting
 Change (adoption of SFAS No. 109) 1,000,000 --
 Net Income $ 2,485,000 $ 1,204,000
 Income Per Common And Common
 Equivalent Share:
 From Operations $.16 $.13
 From Cumulative Effect Of
 Accounting Change .11 --
 Total $.27 $.13
 Weighted Average Number Of
 Common And Common Equivalent
 Shares 9,343,000 9,030,000
 -0- 10/28/93
 /CONTACT: Philip R. Pietras, treasurer and chief financial officer of GRC International, 703-506-5060/
 (GRH)


CO: GRC International, Inc. ST: Virginia IN: CPR SU: ERN

LG -- NY025 -- 7779 10/28/93 10:08 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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