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 ST. LOUIS, Jan. 30 /PRNewswire/ -- LaBarge, Inc. (AMEX: LB) today

announced results for its fiscal 1992 second quarter and six months ended Dec. 29, 1991.
 Net earnings for the quarter were $817,000, up 63 percent from the $502,000 recorded for the second quarter of fiscal 1991. This performance brought net earnings during the first six months of fiscal 1992 to $1,187,000 an increase of 65 percent from the net earnings of $720,000 recorded in the first half of fiscal 1991.
 Net sales for the recently ended quarter were $20,118,000, up 13 percent from the $17,741,000 recorded during the second quarter of fiscal 1991. For the six months ended Dec. 29, 1991, net sales were $38,009,000, up 15 percent from the $32,979,000 reported for the comparable period of fiscal 1991.
 Earnings per common share, after giving effect to preferred stock dividends, were 4 cents for the second quarter and 5 cents for the first half. This compares to earnings per common share of 2 cents in the second quarter and 2 cents for the first half of fiscal 1991.
 Craig E. LaBarge, chief executive officer and president, commented: "These are excellent results. They show continued growth of our sales and profits just as we have been forecasting. In addition, we continue to be pleased with the level of new orders which we are receiving.
 "One of the highlights of the recently ended quarter was the major new contract we announced with General Dynamics Space Systems Division of San Diego, Calif. This contract, under which we will produce electrical cables and harness assemblies for the Atlas II and Titan IV/Centaur launch vehicles, is consistent with our strategy of rapid growth in our commercial business. Our goal this year is for commercial business to account for a record 25 percent of our revenues, while our defense electronics sales continue to increase.
 "Our backlog also remains healthy. As of Dec. 29, 1991, it stood at $76.6 million, compared with $73 million a year earlier.
 "We are continuing to perform in line with our plans. As the year progresses, we are optimistic that we will continue to produce good results."
 Three months Six months
 12/29/91 12/30/90 12/29/91 12/30/90
 Net sales $20,118,142 $17,741,325 $38,008,825 $32,979,460
 Earnings from oper. 1,664,320 1,516,107 2,920,267 2,788,852
 Earnings from oper.
 before income taxes
 & extraord. item 834,153 502,318 1,211,728 720,268
 Provision for income
 taxes 300,300 170,700 436,300 244,800
 Net earnings before
 extraord. item 533,853 331,618 775,428 475,468
 Extraord. item:
 Tax effect of net oper.
 loss carryforwards 283,600 170,700 412,000 244,800
 Net earnings 817,453 502,318 1,187,428 720,268
 Preferred stock
 dividends 50,000 50,000 100,000 100,000
 Preferred stock
 accretion 243,544 175,008 467,776 336,139
 Net earnings available
 to common shareholders 523,909 277,310 619,652 284,129
 Earnings per common
 Before extraord. item $.02 $.01 $.02 --
 Extraordinary item .02 .01 .03 .02
 Net earnings per
 common share .04 .02 .05 .02
 Weighted average common
 shares outstanding 13,489,616 13,489,616 13,489,616 13,489,616
 -0- 1/30/92
 /CONTACT: LaBarge corporate communications, 314-231-5960/
 (LB) CO: LaBarge, Inc. ST: Missouri IN: ARO SU: ERN

CK-KW -- NY082 -- 5325 01/30/92 14:21 EST
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Publication:PR Newswire
Date:Jan 30, 1992

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