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LOJACK CORP. REPORTS 26 PERCENT INCREASE IN REVENUES, CONTINUED IMPROVEMENT IN OPERATING CASH FLOW FOR THIRD QUARTER

 DEDHAM, Mass., Jan. 4 /PRNewswire/ -- LoJack Corp. (NASDAQ: LOJN; Boston: LOJ.B) announced today that revenues increased by 26 percent to $5,730,000 for the third quarter ended Nov. 30, 1992, compared to $4,546,000 a year ago. Operating income before depreciation and amortization increased by $279,000 to $227,000 in the third quarter from an operating loss before depreciation and amortization of $52,000 a year ago. Overall, the net loss improved by $632,000, or 61 percent, to $395,000 in the third quarter from $1,027,000 a year ago.
 For the nine months ended Nov. 30, 1992, revenues increased by 27 percent to $16,852,000 from $13,235,000 a year earlier. Operating income before depreciation and amortization increased by $1,052,000 to $287,000 from an operating loss before depreciation and amortization of $765,000 a year ago. Overall, the net loss improved by $2,130,000, or 58 percent, to $1,509,000 from $3,639,000 a year ago.
 Net loss before cumulative preferred dividend was $.03 and $.12 for the third quarter and nine months ended Nov. 30, 1992 respectively, compared to $.08 and $.30 for the same periods a year ago. Including the cumulative preferred dividend, the net loss per common share was $.05 and $.19 for the third quarter and nine months ended Nov. 30, 1992. No preferred dividend was required for the same periods in 1991, nor has the company paid the dividend during fiscal 1993, which ends Feb. 28.
 In announcing the results, C. Michael Daley, president, said that the increase in revenues for the third quarter is a continuation of the trends established during the current fiscal year of strong growth in unit sales in most of the company's domestic markets.
 "The dramatic improvement in operating income before depreciation and amortization, or operating cash flow, reflects primarily the effect increased revenues have after fixed operating expenses have been covered. In our six domestic markets which have been operational since the beginning of the fiscal year, approximately 80 percent of the gross margin derived from increased revenues flowed directly to operating income," Mr. Daley said.
 Mr. Daley said that offsetting the aforementioned increases in operating cash flow were expenses incurred, primarily marketing, in connection with the launch of the company's seventh domestic market in Georgia in September.
 "We continue to be bullish on our prospects for growth and profitability. Specifically, unit sales are beginning to be generated by our Georgia system. More important, on a consolidated basis, the rest of our domestic markets for December are running approximately 30 percent ahead of a year ago, on a 'same store' basis. This would make the strongest December in LoJack's history. In addition, in December we made our initial shipment of components for the CarSearch System which will be operated in Czechoslovakia pursuant to a license agreement. We are also actively pursuing plans for expansion in 1993 to new markets both in the U.S. and abroad.
 "Along with our continuing increase in sales, we are achieving increased market penetration of new car sales in some of our largest domestic markets. If greater consumer confidence translates into increased new car sales during calendar 1993 our turn to profitability could be accelerated," Mr. Daley said.
 LOJACK CORPORATION
 Condensed Financial Information
 (Unaudited)
 Three months ended Nine months ended
 Nov. 30 Nov. 30
 1992 1991 1992 1991
 Revenues 5,730,162 4,545,873 16,852,452 13,235,234
 Operating income
 (loss) before
 depreciation &
 amortization 227,381 (51,759) 296,566 (764,563)
 Operating loss (336,191) (629,789) (1,334,825) (2,442,687)
 Net loss (395,075) (1,027,095) (1,509,182) (3,639,079)
 Per share (.05) (.08) (.19) (.30)
 Shares outstdg. 12,764,088 12,109,322 12,764,098 12,059,715
 -0- 1/4/93
 /CONTACT: Joseph F. Abely, senior vice president of LoJack Corporation, 617-326-4700, or John Swanson of Swanson Communications, Inc., 212-683-4890, for LoJack Corp./
 (LOJN)


CO: LoJack Corp. ST: Massachusetts IN: AUT SU: ERN

AH-KW -- NY046 -- 1318 01/04/93 12:32 EST
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Date:Jan 4, 1993
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