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LABARGE REPORTS RESULTS

 ST. LOUIS, Jan. 28 /PRNewswire/ -- LaBarge, Inc. (AMEX: LB) today announced results for its 1993 second quarter and six months ended Dec. 27, 1992.
 Net earnings for the quarter were $541,000, compared to net earnings of $841,000 recorded for the second quarter of fiscal 1992. For the six months ended Dec. 27, 1992, net earnings were $921,000, compared to $1,222,000 from continuing operations and $3,556,000 total for the same period of fiscal 1992. Earnings for the six months of fiscal 1992 include a one-time, non-operating gain of $2,335,000 due to the effect of a change in accounting for income taxes.
 Earnings available to common shareholders for the current quarter were $541,000 or $.04 per share compared to $547,000 or $.04 for the second quarter of last year. For the six months, common shareholder earnings were $921,000 or $.06 per share versus $654,000 or $.05 per share from continuing operations and $2,988,000 or $.22 per share total for the comparable six months of fiscal 1992.
 Net sales for the quarter were $20,018,000, compared to sales of $20,118,000 recorded during the second quarter of fiscal 1992. For the six months ended Dec. 27, 1992, net sales were $37,886,000, compared to $38,009,000 reported for the comparable period of fiscal 1992.
 Craig E. LaBarge, chief executive officer and president, commented on the results:
 "Due to the retirement of the Class C preferred stock and the elimination of the preferred stock dividends, the company's net earnings available to common shareholders held constant for the quarter. For the six months, excluding the effect of last year's accounting change, common shareholder earnings are up. This is positive in view of the difficult market conditions in the defense industry. We still expect common shareholder earnings to be up for the year.
 "Market conditions in the defense sector are extremely challenging. The drop in earnings from operations is due to margin pressure associated with the shrinking defense market. We are downsizing our defense capacity as market conditions dictate, and absorbing the costs as incurred. We are committed to do what is necessary to remain a competitive, superior supplier to the defense industry.
 "Our commercial business is continuing to show significant new activity. Order input has been strong and we are aggressively pursuing additional business in the medical, computer and appliance fields. We are pleased with our progress in growing our commercial business."
 LABARGE, INC.
 Periods Three Months Six Months
 Ended 12/27/92 12/29/91 12/27/92 12/29/91
 Net sales $20,018,198 $20,118,142 $37,886,434 $38,008,825
 Earns. from opers. 1,114,560 1,664,319 2,081,273 2,920,267
 Earns. from cont.
 opers. bef. inc.
 taxes & cum. effect
 of acctng. change 570,264 834,152 971,204 1,211,728
 Income tax expense
 (benefit) 29,700 (6,800) 50,600 (9,800)
 Net earns. before
 cumulative effect of
 accounting change 540,564 840,952 920,604 1,211,528
 Cum. effect of change
 in accounting for
 income taxes -- -- -- 2,334,522
 Net earnings $ 540,564 $ 840,952 $ 920,604 $ 3,556,050
 Net earns. from
 cont. operations
 before effect of
 accounting change 540,564 840,952 920,604 1,221,528
 Less:
 Preferred stock divs. -- 50,000 -- 100,000
 Preferred stock
 discount accretion -- 243,544 -- 467,776
 Net earns. available
 to com. shareholders
 from cont. opers. 540,564 547,408 920,604 653,752
 Cum. effect of change
 in accounting for
 income taxes -- -- -- 2,334,522
 Net earns. avail. to
 com. shrholders $ 540,564 $ 547,408 $ 920,604 $ 2,988,274
 Earns. per com. shr.:
 Cont. operations
 before effect of
 accounting change $.04 $.04 $.06 $.05
 Cumulative effect of
 accounting change -- -- -- .17
 Net earnings per
 common share $.04 $.04 $.06 $.22
 Average common shares
 outstanding 15,002,917 13,489,616 14,997,780 13,489,616
 -0- 1/28/93
 /CONTACT: LaBarge, Inc., 314-231-5960/
 (LB)


CO: LaBarge, Inc. ST: Missouri IN: ARO SU: ERN

LR-SG -- NY075 -- 0369 01/28/93 14:49 EST
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Date:Jan 28, 1993
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