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INTERMAGNETICS GENERAL SEES LIMITED SHORT-TERM IMPACT FROM SSC VOTE

 INTERMAGNETICS GENERAL SEES LIMITED SHORT-TERM IMPACT FROM SSC VOTE
 GUILDERLAND, N.Y., June 18 /PRNewswire/ -- The disappointing vote, yesterday, by the House of Representatives to block continued construction of the $8.3 billion superconducting super collider, if sustained for fiscal 1993, will have very little short-term effect on the revenues and earnings of Intermagnetics General Corporation (NASDAQ: INMA), based here, the company stated today.
 At the same time, it was noted by the Washington Post that the administration's support remains strong for the project and the Senate with its generally more farsighted attitude, still has an opportunity to restore the funds for subsequent House-Senate budget reconciliation discussions. These actions are also strongly supported by the company.
 Carl H. Rosner, president and chief executive officer, emphasized that "We remain totally committed to the U.S. playing a critically important leading role in the worldwide competition to introduce the expected large-scale benefits of superconductivity in medicine, industry and energy conservation." He added: "Moreover, Intermagnetics General continues to participate in internally and externally funded R&D government projects to accomplish these goals."
 In conclusion, IGC's president stated: "As a leading U.S. manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, making up Intermagnetics General's more mature core business operations, including those used in medical diagnostic magnetic resonance imaging (MRI) systems, continue to represent the main factors in IGC's improved performance, rather than the approximately 3 percent revenue impact from SSC related orders."
 -0- 6/18/92
 /CONTACT: Carl H. Rosner, president of Intermagnetics General, 518-456-5456/
 (INMA) CO: Intermagnetics General Corporation ST: New York IN: SU:


PS-OS -- NY059 -- 1599 06/18/92 15:29 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:274
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