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KNOGO REPORTS STRONG THIRD FISCAL QUARTER

 HAUPPAUGE, N.Y., Jan. 13 /PRNewswire/ -- Knogo Corporation (NYSE: KNO) today reported a 30 percent increase in revenues for its third fiscal quarter and strong operating earnings.
 Revenues for the third quarter of fiscal 1993, ended Nov. 30, 1992, were $26,031,000, 30 percent above the $20,092,000 reported in the same quarter last year. For the nine months, revenues of $71,312,000 were 19 percent above the $59,846,000 in the same period last year.
 Operating profit was $2,798,000 in the third fiscal quarter, compared to an operating loss of ($13,767,000) which included a business restructuring charge of $9,850,000 taken in the third quarter of last year. Net income for the third quarter of fiscal 1993 was $392,000, or $.07 per share, compared to a net loss of ($14,672,000), or ($2.79) per share, in the same quarter last year. Net income was impacted by a foreign exchange loss of ($1,638,000) in the third quarter ended Nov. 30, 1992 related to the realignment of the Spanish peseta, British pound and Italian lira against the Belgian franc.
 For the nine months ended Nov. 30, 1992, net income was $1,905,000, or $.36 per share, compared to a net loss after restructuring charges of ($13,840,000), or ($2.63) per share, last year.
 In commenting on the quarter, Arthur J. Minasy, chairman and chief executive officer, said, "the strong operating performance for the quarter is indicative of the improvement we are seeing in our business, particularly in Europe, and the benefits of the restructuring program initiated last year at this time.
 "The foreign currency loss in the quarter was an aberration, and was the direct result of the realignment of several European currencies against the Belgian franc in the fall. Historically, currency adjustments have been less significant items for us, plus or minus a few hundred thousand dollars, and we expect a return to that kind of result in the future. The currency loss which approximates $.30 per share on a pretax basis, should not obscure our strong operating results.
 "Several substantial source tagging orders in shoe retailing in Europe are validating our approach to this important concept. The shoe industry is an ideal place to demonstrate the abilities of our systems and our tags which are easily built into the shoe, withstand the pressure and heat of manufacturing processes and can be automatically deactivated with our patented solid state non-electric deactivators."
 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
 (Dollars in thousands, except share data)
 Periods ended Three months Nine months
 Nov. 30 1992 1991 1992 1991
 Total revenues $26,031 $20,092 $71,312 $59,846
 Operating profit (loss) 2,798 (13,767) 6,223 (10,993)
 Income (loss) before
 income taxes 545 (14,741) 2,646 (13,552)
 Net income (loss) 392 (14,672) 1,905 (13,840)
 Net income (loss)
 per share $.07 ($2.79) $.36 ($2.63)
 Weighted average
 common shares 5,387,243 5,264,031 5,333,780 5,259,874
 -0- 1/13/93
 /CONTACT: Robert T. Abbott, vice president-finance of Knogo Corporation, 516-232-2100 or 800-645-4224/
 (KNO)


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

SM-OS -- NY051 -- 4504 01/13/93 14:48 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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