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GSE ELECTRONIC SYSTEMS, INC. REPORTS NINE MONTH PERFORMANCE

 NEW YORK, Dec. 1 ~PRNewswire~ -- GSE Electronic Systems, Inc. (OTC: GSES) said today financial performance during the first nine months of 1992 improved dramatically compared to the similar period in 1991.
 For the nine-month period ended Sept. 30, 1992, the company reported sales of $3,275,933, an increase of $707,687 or 28 percent over sales of $2,568,246 during the comparable period of 1991.
 Compared to 1991, the company has drastically reduced its net loss for the first nine months of 1992. The loss for the current nine months was $488,833 compared to a loss of $1,718,181 during 1991 for the same period. This represents a reduction in net loss of 72 percent and reflects a substantial increase in gross profit margins from the company's new generation of multi-system video products and significant reductions in operating costs.
 Gross profit margins increased to 38 percent in the first nine months of 1992 compared to margins of 21 percent for the 1991 period. Operating costs were reduced by 35 percent during the period when compared to 1991. This change reflects significantly reduced legal and non-recurring expenses that were incurred in 1991 and not in 1992.
 The new line of products based upon the advanced MPE 200 and its use of GSE's patented RAPID CTL technology represents a significant advancement in features and quality offered to customers at a competitive price and was introduced to the public during the third quarter of 1992. The MPE 200 has been ordered in substantial quantities by several large OEM customers and deliveries to these customers will begin during the fourth quarter of 1992.
 At Sept. 30, 1992, the company had an outstanding backlog of firm orders for its new generation of multi-systems video equipment of approximately $2.5 million, which it expects to deliver before the end of the year.
 -0- 12~1~92
 ~CONTACT: Eric Gebaide of GSE Electronic Systems, 212-308-2243~
 (GSES)


CO: GSE Electronic Systems, Inc. ST: New York IN: CPR SU: ERN

CH -- NE010 -- 2407 12~01~92 12:02 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:344
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