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HALIFAX RELEASES FIRST-QUARTER RESULTS

 ALEXANDRIA, Va., Aug. 4 /PRNewswire/ -- Halifax Corporation (AMEX: HX) today released results for its first quarter ended June 30, 1993. The company reported net income for the quarter of $47,000, or 4 cents per share, on revenues of $13,502,000. Profits were down due to disappointing results for the Electronics Services Division.
 Howard Mills, president, stated "recovery from the downturn in Electronics Services has been delayed until the second quarter when the July 1 acquisition of the EAI Services Division is expected to significantly improve results." Mills also said "even with the slow start, the current fiscal year is expected to compare favorably with the previous year with increased revenues and net income."
 Results for the first quarter are as follows:
 FIRST QUARTER ENDED JUNE 30, 1993 1992
 Revenues $13,502,000 $14,132,000
 Income before income taxes 77,000 325,000
 Income taxes 30,000 125,000
 Net income $ 47,000 $ 200,000
 Net income per share $ 0.04 $ 0.17
 Weighted average number of
 common shares outstanding 1,193,612 1,186,179
 Halifax is an Electronics Services and Facilities Support Company.
 -0- 8/4/93
 /CONTACT: Richard J. Smithson of Halifax, 703-750-2202/
 (HX)


CO: Halifax Corporation ST: Virginia IN: CPR SU: ERN

IH-KD -- DC918 -- 9481 08/04/93 15:29 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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