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JACO ELECTRONICS ANNOUNCES YEAR END AND FOURTH QUARTER RESULTS

 JACO ELECTRONICS ANNOUNCES YEAR END AND FOURTH QUARTER RESULTS
 HAUPPAUGE, N.Y., Sept. 15 /PRNewswire/ -- Jaco Electronics, Inc. (NASDAQ-NMS: JACO) today announced net sales and earnings for the year end and fourth quarter ended June 30, 1992.
 Earnings for the fiscal year ending June 30, 1992, reached $312,000 or $.18 per share compared with a loss in fiscal 1991 of $1,018,000 or $.59 per share. Fiscal 1992 showed successive quarterly sales increases culminating with sales in the fourth quarter reaching $21.5 million compared with sales of $19.3 million during the fourth quarter of fiscal 1991, representing a 12 percent increase. More importantly, the earnings for the fourth quarter exceeded $220,000 or $.13 per share compared with a loss of $368,000 or $.22 a share during the fourth quarter of fiscal 1991. Sales for fiscal 1992 reached $77.4 million, down slightly from sales of $78.9 million from fiscal 1991.
 Joel H. Girsky, chairman and chief executive officers of Jaco Electronics, Inc., commenting on the year end results said, "The return to profitability in fiscal 1992 from last year's loss was the result of the company's ability to reduce selling, general and administrative costs. While the rate of new orders continue to exceed the rate of shipment, the general economic environment makes it difficult to predict results for the 1993 fiscal year as a whole."
 Jaco Electronics, Inc., founded in 1961, distributes electronic components and electromechanical devices, such as capacitors, semiconductors, relays, fractional horsepower electric motors, resistors and computer sub-systems, for use in commercial, industrial, aerospace and defense applications. Jaco represents over 115 electronics manufacturers, selling nationally over its own sales force and independent representatives to over 10,000 customers.
 JACO ELECTRONICS, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 Periods Ended Year Three Months
 June 30 1992 1991 1992 1991
 Net sales $77,358,009 $78,856,451 $21,549,637 $19,279,631
 Earns. (loss) bef.
 income taxes 482,296 (1,375,068) 305,719 (326,658)
 Income tax expense
 benefit 170,000 (357,000) 85,000 41,000
 Net earnings (loss) 312,296 (1,018,068) 220,719 (367,658)
 Earnings (loss)
 per share $.18 $(.59) $.13 $(.22)
 Weighted avg. shares
 outstanding 1,708,637 1,720,500 1,708,637 1,708,637
 -0- 9/15/92
 /CONTACT: Jeffrey D. Gash of Jaco Electronics, 516-273-5500/
 (JACO) CO: Jaco Electronics, Inc. ST: New York IN: CPR SU: ERN


TS-PS -- NY036 -- 9594 09/15/92 11:29 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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