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HADCO CORPORATION REPORTS EARNINGS RESULTS - THIRD QUARTER 1993

 SALEM, N.H., Aug. 16 /PRNewswire/ -- Hadco Corporation (NASDAQ: HDCO) today announced that net income for the fiscal quarter ended July 31, 1993, was $1.5 million, or 14 cents per share, on net sales of $46.5 million. Net income for the first nine months of fiscal 1993 was $5.8 million, or 54 cents per share, on net sales of $141.9 million.
 In comparison, net income for the third quarter of fiscal 1992 was $2.0 million, or 18 cents per share, on $45.3 million of net sales. Net income for the first nine months of fiscal 1992 was $5.6 million, or 52 cents per share, on $135.9 million of net sales.
 Bookings for the third quarter of fiscal 1993 were $43.9 million, up 6.0 percent from $41.3 million in the third quarter of fiscal 1992. Bookings through the third quarter of fiscal 1993 were $138.1 million, up 1.3 percent from $136.1 million through the third quarter of fiscal 1992. Total backlog at the end of the third quarter of fiscal 1993 was $27.2 million, down from $30.1 million at the end of the third quarter of fiscal 1992. Total backlog at the end of the second quarter of fiscal 1993 was $28.4 million.
 Hadco is the largest North American independent manufacturer of dense double-sided and multilayer printed circuits, serving customers in the computer, telecommunications, automotive, and instrumentation, including medical and industrial automation industries. The company also manufactures and assembles backplanes for electronic interconnect systems. It operates six facilities in the United States.
 The figures are as follows:
 HADCO CORPORATION
 Consolidated Summary Statements of Income
 (All dollar amounts, except per share data, in thousands)
 (Unaudited)
 Three Months Ended Nine Months Ended
 July 31 Aug. 1, July 31 Aug. 1,
 1993 1992 1993 1992
 Net sales $46,497 $45,283 $141,950 $135,921
 Gross profit 8,148 8,550 26,301 24,921
 Operating income 2,623 3,067 9,678 9,362
 Income before provision
 for income taxes 2,429 2,754 9,127 8,415
 Net income 1,522 1,972 5,842 5,601
 Net income per common and
 common equivalent share 14 cents 18 cents 54 cents 52 cents
 Weighted average common
 and common equivalent
 shares outstanding 10,824,734 11,108,362 10,826,976 10,864,229
 HADCO CORPORATION
 Consolidated Summary Balance Sheets
 (all dollar amounts in thousands)
 July 31 Oct. 31,
 1993 1992
 (unaudited)
 Cash, cash equivalents
 and short-term
 investments $25,162 $25,940
 Other current assets 30,860 29,653
 Net property, plant and
 equipment 48,088 47,750
 Other assets 940 390
 Total $105,050 $103,553
 Current liabilities $28,583 $32,432
 Other liabilities 10,560 11,758
 Stockholders' investment 65,907 59,363
 Total $105,050 $103,553
 -0- 8/16/93
 /CONTACT: Rodney P. DeRego, vice president and chief financial officer of Hadco Corporation, 603-898-8000/
 (HDCO)


CO: Hadco Corporation ST: New Hampshire IN: CPR TLS SU: ERN

DJ -- NE006 -- 3288 08/16/93 17:27 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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