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HUMPHREY INC. REPORTS RESULTS

 HUMPHREY INC. REPORTS RESULTS
 SAN DIEGO, April 20 /PRNewswire/ -- Humphrey Inc. (NASDAQ: HUPH)


today announced results of first quarter 1992 operations. On total revenues of $5,502,374 there was a loss of $72,234, or 72 cents a share. This compares with the first quarter 1991 when revenues were $5,832,092 and there was a profit of $279,683, or 28 cents a share. There were 1,000,000 shares outstanding at the end of both periods.
 According to P.E. Humphrey, president, "The major difficulties were cost overruns in producing the reference measurement units (RMUs). We shipped a large quantity of these units in the first quarter and although the costs are improving we are sustaining a loss on this contract. The customer has requested a stepped-up delivery and we are able to comply; this is a highly complex system of five gyros and electronics with built-in testing (BIT). We have negotiated an increase in the price on the next production lot and we expect to show satisfactory results when these start production.
 "It is gratifying that we have a good backlog, with new production contracts in and more coming; many defense businesses are cutting back. The programs we are on are fairly assured to continue for two, three or more years.
 "We have recently received increases on three separate production contracts totaling approximately $10 million, and our backlog is at about $29.5 million."
 Humphrey Inc. is a leading supplier of gyroscopes and electromechanical devices to the aerospace and defense industries with sales and representation worldwide.
 -0- 4/20/92
 /CONTACT: D.J. Streed of Humphrey, 619-565-6631/
 (HUPH) CO: Humphrey Inc. ST: California IN: ARO SU: ERN


AL-JL -- SD006 -- 0271 04/20/92 17:44 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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