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HUMPHREY REPORTS FIRST QUARTER 1993 RESULTS

 SAN DIEGO, April 20 /PRNewswire/ -- Humphrey Inc. today announced improved results of operations in the first quarter of 1993. On total revenues of $6,767,416, there was a profit of $327,838, or 33 cents a share. This compares with the first quarter 1992, when revenues were $5,502,374, and there was a loss of $72,234, or 7 cents a share.
 There were 1,000,000 shares outstanding at the end of both periods.
 According to P.E. Humphrey, president and chief executive officer, "This is a record quarter, with revenues up by 23 percent, and going from a loss to substantial profit in comparable quarters. The RMU program and other major programs showed notable improvements in performance for the quarter.
 "The Reference Measurement Unit contract started in 1989, with development spreading over about two years. We reached full production rate in January and at a better price than on the first phase of the contract. This is a complex system of five gyros and electronics with built-in testing (BIT). The contract will be completed in late 1993, and we are currently negotiating for follow- on production.
 "New business is somewhat slower than last year, but we anticipate additional foreign business in missile programs and follow-on contracts from continuing U.S. missile and target drone business."
 Backlog is at approximately $23.2 million, compared to $29.5 million last year at this time.
 Humphrey Inc. is a leading supplier of gyroscopes and electromechanical devices to the aerospace and defense industries with sales and representation worldwide.
 -0- 4/20/93
 /CONTACT: D.J. Streed of Humphrey, 619-565-6631/


CO: Humphrey Inc. ST: California IN: ARO SU: ERN

BP-MS -- SD007 -- 8303 04/20/93 16:51 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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