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HALIFAX RELEASES SECOND-QUARTER AND FIRST-HALF RESULTS

 HALIFAX RELEASES SECOND-QUARTER AND FIRST-HALF RESULTS
 ALEXANDRIA, Va., Nov. 4 /PRNewswire/ -- Halifax Corporation (AMEX: HX) today released results for its second quarter and first half ended Sept. 30, 1992. The company reported net income for the quarter of $222,000, or 19 cents per share, on revenues of $15,079,000, and income for the six months of $422,000, or 36 cents per share, on revenues of $29,211,000. As previously reported, increased revenues are attributable to the USMC Maritime Prepositioning Force support contract. A substantial amount of these revenues are due to major subcontracting on which Halifax receives no fee, and results in overall lower gross margins. Net income for the second quarter has increased over the comparable period last year and the first quarter this fiscal year.
 Halifax is an electronic services and facilities support company.
 HALIFAX CORPORATION
 SECOND QUARTER ENDED SEPT. 30, 1992 1991
 Revenues $15,079,000 $ 7,227,000
 Income before income taxes 361,000 310,000
 Income taxes $ 139,000 $ 124,000
 Net income $ 220,000 $ 186,000
 Net income per share $ 0.19 $ 0.16
 Weighted average number of
 common shares outstanding 1,186,179 1,196,862
 SIX MONTHS ENDED SEPT. 30, 1992 1991
 Revenues $29,211,000 $14,579,000
 Income before income tax 686,000 715,000
 Income taxes $ 264,000 $ 286,000
 Net income $ 422,000 $ 429,000
 Net income per share $ 0.36 $ 0.36
 Weighted average number of
 common shares outstanding 1,186,179 1,194,646
 -0- 11/4/92
 /CONTACT: Richard J. Smithson of Halifax Corporation, 703-750-2202/
 (HX) CO: Halifax Corporation ST: Virginia IN: CPR SU: ERN


IH -- DC029 -- 2591 11/04/92 14:42 EST
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Publication:PR Newswire
Date:Nov 4, 1992
Words:283
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