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KNOGO CORPORATION REPORTS FIRST QUARTER REVENUE AND EARNINGS

 HAUPPAUGE, N.Y., July 14 /PRNewswire/ -- KNOGO Corporation (NYSE: KNO) today reported revenues for the first quarter of its 1994 fiscal year of $23,922,000, a 13 percent increase over revenues of $21,157,000 reported for the same quarter last year. Net income for the quarter ended May 31, 1993 was $933,000, or 17 cents per share, compared to a restated $1,065,000, or 20 cents per share for the quarter ended May 31, 1992. Fiscal 1993 results have been restated for the adoption of FAS 109, Accounting for Income Taxes. The effect of the restatement has been to increase fiscal 1993 first quarter net income by $82,000 and retained earnings at Feb. 28, 1993 by $330,000. Included in the 1994 first quarter revenues was approximately $500,000 related to the sale of certain technology for use in a foreign country.
 Commenting on the results, Arthur J. Minasy, chairman and chief executive officer, said, "We have started the year on a positive note, particularly in Europe. More importantly, the activity in source tagging and source imbedding is increasing as more retailers, trade groups and manufacturers are becoming interested in the subject. Most people now seem to accept that the tagging of hardgoods should take place before merchandise reaches the stores. We feel we have the best family of SUPER STRIP products, including systems, tags, activators and deactivators to serve this potentially explosive market, and we are working to exploit this advantage."
 KNOGO Corporation, founder of the Electronic Article Surveillance (EAS) industry in 1966, is the world's technological leader in the design and manufacture of asset protection systems for retailers and industry. Its Radio Frequency (RF) and Micro-Magnetic (MM) systems protect retail merchandise and business assets. Other products include KNOGO's Data Displayer and Surveillor Closed Circuit Video Systems (CCVS), which protect retailers against theft by recording point-of-sale transactions and through video surveillance.
 KNOGO CORPORATION
 Consolidated Financial Highlights
 (000s omitted, except share data)
 Three months ended
 May 31, 1993 1992
 (as restated)
 Total revenues $23,922 $21,157
 Operating profit 1,752 1,700
 Income before income taxes 1,244 1,365
 Net income 933 1,065
 Net income per common share .17 .20
 Weighted average common shares 5,570,466 5,293,869
 -0- 7/14/93
 /CONTACT: Robert T. Abbott, vice president - finance, of KNOGO, 516-232-2100/
 (KNO)


CO: KNOGO Corporation ST: New York IN: SU: ERN

MP-LG -- NY027 -- 1277 07/14/93 10:07 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
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