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HICKOK ELECTRICAL HAS FIRST QUARTER SALES, EARNINGS GAINS

 CLEVELAND, Feb. 15 /PRNewswire/ -- The Hickok Electrical Instrument Company (NASDAQ: HICKA) today reported strong sales and earnings gains for the fiscal first quarter ended December 31.
 Net income of the Cleveland-based producer of automotive diagnostic tools and training programs and high technology indicating instruments rose to $110,148, or 18 cents per share, up from $26,777, or 4 cents per share, a year earlier. Sales were $4,134,542 versus $2,609,491 a year earlier.
 The company said that current year sales and earnings gains reflected the continuing strength of its automotive diagnostic instrumentation business and revenues from its diagnostic strategies and technical training services.
 Noting that a substantial portion of its automotive-related business represents large contracts subject to customer shipment release dates, the company emphasized that sales, earnings and order backlog characteristically vary substantially from period to period. Order backlog as of December 31 was $3,470,000, down from $4,423,000 at fiscal 1992 year-end. The decline was attributed to the relatively high level of first quarter shipments.
 For the fiscal year ended Sept. 30, 1992, Hickok previously reported record earnings of $1,241,091, or $2.03 per share, on record sales of $18,406,287.
 Hickok reported a strong financial position with current assets of $6,840,217, 4.5 times current liabilities. Working capital amounted to $5,303,922 and stockholders' equity $6,662,634, or $10.93 per share.
 Hickok specializes in the development, manufacture and marketing of indicating instruments as used in the aircraft and in automotive electronics diagnostics and training.
 THE HICKOK ELECTRICAL INSTRUMENT CO.
 Consolidated Income Statement (Unaudited)
 Three Months
 Period ended December 31 1992 1991
 Net Sales $4,134,542 $2,609,491
 Income before taxes 180,548 43,977
 Income taxes 70,400 17,200
 Net income 110,148 26,777
 Earnings per share .18 .04
 Weighted average shares outstanding 609,712 609,712
 -0- 2/15/93
 /CONTACT: Robert L. Purcell of The Hickok Electrical Instrument Company, 216-541-8060/
 (HICKA)


CO: The Hickok Electrical Instrument Company ST: Ohio IN: CPR SU: ERN

SM -- CL008 -- 6556 02/15/93 14:07 EST
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Publication:PR Newswire
Date:Feb 15, 1993
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