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HOLOPAK TECHNOLOGIES, INC. ANNOUNCES 302 PERCENT INCREASE IN NET INCOME ON 80 PERCENT INCREASE IN SALES

 EAST BRUNSWICK, N.J., Nov. 2 /PRNewswire/ -- HoloPak Technologies, Inc. (NASDAQ: HOLO), a leading specialty manufacturer of holographic images, hot stamp foils, and metallized paper, today reported operating results for the second quarter of fiscal 1994.
 For the three months ended September 30, 1993, HoloPak reported sales of $13.1 million, compared to $7.3 million for the same period last year, an increase of 80%. Net income was $652,000, or 19 cents per share, compared to second quarter net income a year earlier of $162,000, or 5 cents per share. Net income increased 302% and earnings per share increased 280% over last year's quarter.
 For the six months ended September 30, 1993, HoloPak sales were $25.3 million, a 60% increase over last year. Net income was $875,000, or 25 cents per share, compared to $563,000, or 17 cents per share during the first six months of fiscal 1993. Net income increased 55% year to year.
 "We are seeing our efforts paying off to build our high margin growth markets, such as holography, recyclable metallized paper and specialty foils," said Harry Parker, Chief Executive Officer. "The revenues resulting from the acquisition of Alubec Industries in March of this year have also added nicely to our earnings," he continued. "Our focus continues to be on building long term value for shareholders."
 Mr. Parker added, "In the coming months, we see solid growth in the security holography market and look to sustained growth in Europe as it emerges from its recession."
 HoloPak Technologies, Inc. is a leading specialty manufacturer of holographic images, hot stamp foils, diffractive films and laminates used to decorate or label a wide variety of products including packaging and promotional materials, greeting cards, paperback book covers, cosmetics, appliances, and sporting goods. Three-dimensional holograms are also used in security/anti-counterfeiting applications. HoloPak has operations throughout the United States, Canada, France, Germany, and Belgium.
 HoloPak Technologies, Inc. and Subsidiaries
 Selected Financial Data
 (Amounts in 000's except share and per share data)
 (Unaudited)
 Three Months Ended Six Months Ended
 September 30, September 30,
 1993 1992 1993 1992
 Net Sales $13,176 $7,315 $25,296 $15,805
 Cost of Sales 9,170 5,386 18,375 11,586
 Gross Profit 4,006 1,928 6,921 4,220
 Selln?g, General and
 Administrative Expenses
 2,675 1,642 5,107 3,245
 Operating Income 1,331 286 1,814 975
 Other Expense (Income)
 Interest Income (13) (22) (33) (47)
 Interest expense 104 -- 198 --
 Income Before
 Income Taxes 1,240 308 1,649 1,022
 Income Taxes (a) 588 146 773 459
 Net Income $652 162 875 563
 Net Income per share $0.19 $0.05 $0.25 $0.17
 Weighted average
 number of common
 shares and common
 share equivalent
 outstanding 3,517,989 3,377,307 3,517,989 3,402,864
 (a) Adoption of FASB Statement 109 resulted in an increase of effective tax rate.
 -0- 11/2/93
 /CONTACT: David W. Jaffin of HoloPak Technologies, Inc., 908-238-2883/
 (HOLO)


CO: HoloPak Technologies, Inc. ST: New Jersey IN: SU: ERN

PS -- NY012 -- 9481 11/02/93 08:13 EST
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Date:Nov 2, 1993
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