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LOGICON REPORTS GAINS IN SECOND QUARTER, SIX MONTH RESULTS

 LOS ANGELES, Oct. 26 /PRNewswire/ -- Logicon Inc. (NYSE: LGN) today announced results for its fiscal 1994 second quarter and six months which ended Sept. 30, 1993. The company reported gains in revenues, net income and earnings per share.
 Net income in the second quarter was $8.0 million or $1.05 per share compared with $3.7 million or 49 cents per share in the second quarter a year ago. Revenues in the period were $83.2 million compared with $79.2 million in the second quarter of fiscal 1993.
 For the first six months of fiscal 1994, the company had net income of $12.4 million or $1.63 per share on revenues of $162.4 million, compared with net income of $7.2 million or 94 cents per share on revenues of $153.5 million in the first half of fiscal 1993.
 Second quarter and six month results include net income of $3.9 million or 51 cents per share, and revenues of $4 million resulting from the settlement of two claims the company had filed with the United States Court of Federal Claims. The claims were for increased costs relating to changes in contract requirements for two fixed-price development contracts with the U.S. Navy to provide air traffic controller training systems, which were delivered and accepted by the U.S. Navy in prior periods.
 Logicon is a leader in providing advanced technology systems and services to support national security, civil and industrial needs.
 LOGICON INC.
 Summary
 Three months ended Nine months ended
 Sept. 30,(a) Sept. 30,(a)
 1993 1992 1993 1992
 Revenues $83,186,000 $79,247,000 $162,373,000 $153,544,000
 Income before taxes
 on income 13,500,000 5,994,000 19,735,000 11,689,000
 Income before
 cumulative effect
 of a change in
 accounting
 principle 7,978,000 3,709,000 11,727,000 7,233,000
 Cumulative effect, on
 prior years, of a
 change in accounting
 for taxes
 on income --- --- 635,000 ---
 Net income $7,978,000 $3,709,000 $12,362,000 $7,233,000
 Earnings per share:
 Before cumulative
 effect of a change
 in accounting
 principle $1.05 $.49 $1.55 $.94
 Cumulative effect, on
 prior years of a change
 in accounting
 principle --- --- .08 ---
 Net income $1.05 $.49 $1.63 $.94
 Average shares
 outstanding 7,608,000 7,575,000 7,561,000 7,669,000
 (a) Unaudited
 -0- 10/26/93
 /CONTACT: Ralph L. Webster of Logicon, 310-373-0220/
 (LGN)


CO: Logicon Inc. ST: California IN: ARO SU: ERN

NY-LM -- LA015 -- 6693 10/26/93 08:02 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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