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INTERMAGNETICS GENERAL REPORTS RECORD EARNINGS FOR THE YEAR

 INTERMAGNETICS GENERAL REPORTS RECORD EARNINGS FOR THE YEAR
 GUILDERLAND, N.Y., July 15 /PRNewswire/ -- Intermagnetics General Corporation (NASDAQ: INMA) today reported record income for the fiscal year ended May 31, 1992.
 Net income increased 52 percent to $4,264,000 to reach fifty-seven cents a share. In the previous fiscal year, net income was $2,810,000 or thirty-nine cents per share. Total revenue for the year was $59,179,000 compared to $61,508,000 in the prior year.
 For the fourth quarter net income was $1,096,000 or fifteen cents a share compared to $1,063,000 or fourteen cents last year. Total revenue for the period increased 2.6 percent to $15,829,000 from $15,422,000 for the final three months of the prior year.
 Per share amounts for all periods have been adjusted to reflect the 3 percent stock dividend declared on May 27, 1992, payable to shareholders on record as of Aug. 3, 1992.
 "Substantial earnings growth was achieved in our core business groups, i.e. superconducting wire, magnets and cryogenic systems even though revenues were off slightly from the prior year. Productivity gains attributable to investments for growth, including new equipment and improvements in production processes resulting from greater employee involvement and higher levels of training led to this performance. Our total research and development activities increased by approximately 40 percent to over $10,000,000 including a 55 percent increase to $1,890,000 in the company funded portion," stated Carl H. Rosner, president and chief executive officer.
 Intermagnetics General, as a leading manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, the combination of which is especially useful in medical diagnostic imaging (MRI) systems, is dedicated to the development and commercialization of applied superconducting systems. The company also produces permanent magnet systems and materials separation equipment.
 INTERMAGNETICS GENERAL CORPORATION
 CONSOLIDATED STATEMENTS OF INCOME
 (Dollars in Thousands, Except Per Share Amounts)
 Three Months Ended (A)
 May 31, May 26,
 1992 1991
 Net sales $15,590 $15,245
 Other revenue 239 177
 Total revenue 15,829 15,422
 Costs and expenses:
 Cost of products sold 11,176 11,105
 Product research and
 development 550 193
 Marketing, general
 and administrative 2,580 2,710
 Interest and other expense 288 217
 Total 14,594 14,225
 Income before income taxes 1,235 1,197
 Provision for income taxes 139 134
 NET INCOME $ 1,096 $ 1,063
 PER PRIMARY SHARE $ .15 $ .14
 Primary Shares 7,464,566 7,501,274
 Twelve Months Ended (B)
 May 31, May 26,
 1992 1991
 Net sales $58,219 $60,777
 Other revenue 960 731
 Total revenue 59,179 61,508
 Costs and expenses:
 Cost of products sold 41,256 46,411
 Product research and
 development 1,890 1,220
 Marketing, general
 and administrative 10,175 9,323
 Interest and other expense 1,084 1,419
 Total 54,405 58,373
 Income before income taxes 4,774 3,135
 Provision for income taxes 510 325
 NET INCOME $ 4,264 $ 2,810
 PER PRIMARY SHARE $ .57 $ .39
 Primary Shares 7,530,893 7,222,610
 NOTE A: For 14 weeks.
 NOTE B: For 53 weeks.
 -0- 7/15/92
 /CONTACT: Carl H. Rosner, president of Intermagnetics General Corporation, 518-456-5456/
 (INMA) CO: Intermagnetics General Corporation ST: New York IN: SU: ERN


DA -- CL018 -- 9732 07/15/92 16:50 EDT
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Date:Jul 15, 1992
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