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JETRONIC INDUSTRIES, INC. REPORTS NET PROFIT FOR YEAR ENDED JAN. 31, 1993, AND COMMITMENT FOR NEW FINANCING

 PHILADELPHIA, June 21 /PRNewswire/ -- Jetronic Industries, Inc. (AMEX: JET) today reported net income of $82,000 (3 cents per share) for the fiscal year ended Jan. 31, 1993, compared to a net loss of $4,015,000 ($1.64 per share) for the fiscal year ended Jan. 31, 1992.
 Revenues were $26,132,000 for 1993 compared to $28,865,000 for 1992. Operating profit for 1993 was $121,000 compared to an operating loss of $360,000 for 1992. Neither year includes the company's retail furniture and appliance operations which were discontinued in 1992 and required a charge of $3,646,000 in 1992 to provide for such discontinuance.
 The company also reported the commitment from a financing institution for up to a $6.5 million line of credit to provide working capital through June 1996. The new financing is expected to be completed by June 30, 1993.
 Jetronic Industries, Inc., is a diversified company engaged in the design, manufacture and marketing of electronic communication and navigation devices and energy conversion products.
 JETRONIC INDUSTRIES, INC.
 Consolidated Statement of Operations
 (In 000s, except per share data)
 Periods ended Three months Year
 Jan. 31 1993 1992 1993 1992
 Net sales $6,447 $6,846 $26,132 $28,865
 Income (loss) from
 continuing operations 163 13 82 (369)
 Discontinued operations -- (3,592)(A) -- (3,646)(A)
 Net income (loss) 163 (3,579) 82 (4,015)
 Net income (loss) per share:
 Income (loss) from
 continuing operations $.06 $.01 $.03 ($.15)
 Discontinued operations -- (1.47) -- (1.49)
 Net income (loss) $.06 ($1.46) .03 (1.64)
 Weighted average number
 of shares outstanding 3,090 2,457 3,090 2,457
 (A) -- Reflects liquidation and discontinuance of the company's retail furniture and appliance operations.
 -0- 6/21/93
 /CONTACT: Leonard W. Pietrzak, vice president-finance of Jetronic Industries, 215-482-7660/
 (JET)


CO: Jetronic Industries, Inc. ST: Pennsylvania IN: SU: ERN FIN

GK-TS -- NY068 -- 4143 06/21/93 15:45 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
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