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LOWRANCE REPORTS THIRD QUARTER SALES

 TULSA, Okla., June 15 /PRNewswire/ -- Lowrance Electronics, Inc. (NASDAQ-NMS: LEIX) today reported third quarter sales of $31,067,000 for the three months ended April 30, 1993, up 29 percent from sales of $24,105,000 during the same period last year. Net income for the quarter was $2,859,000, or $.84 a share, compared to net income of $2,388,000, or $.70 a share, for last year's third quarter. Last year's third quarter included an extraordinary credit of $800,000, or $.23 a share, reflecting the company's beneficial use of its 1991 tax loss carryforward.
 Sales for the nine months ended April 30, 1993 were $61,297,000, up 18 percent from $51,989,000 in sales during the same period last year. Net income for the nine months was $2,096,000, or $.61 a share, down from net income for the nine months ended April 30, 1992 of $2,550,000, or $.75 a share which reflected an extraordinary credit from the company's 1991 tax loss carryforward of $863,000, or $.25 a share.
 Company President Darrell Lowrance said "the higher third quarter sales were primarily the result of the market's enthusiastic response to our new mid priced products, particularly the Eagle ULTRA II series and the Lowrance X-55 which began shipping during the second quarter, along with the timing of shipments of new models." Mr. Lowrance explained that "this year, because six of our nine new models began shipping during the third quarter, much of the total sales increase attributable to our new 1993 models was reflected in our third quarter results. Typically this impact is spread more evenly across the second and third quarters."
 Mr. Lowrance further stated that, "we're pleased with the strong demand for our products which has continued into the fourth quarter, as evidenced by our backlog of orders in excess of $6 million. This approximates our backlog at this time last year. Although these orders are subject to cancellation at any time, we believe our fourth quarter sales results will continue our favorable trend and that our year-end sales will reflect significant increases over 1992 and continued profitability."
 Lowrance Electronics, Inc. manufactures sonar and navigational instruments and accessories for sport fishing and recreational boating markets under the brand names "Lowrance" and "Eagle". The company's common stock is listed on the National Market and trades in the Over- the- Counter Market under the NASDAQ symbol "LEIX".
 -0- 6/15/93
 /CONTACT: Graham Wilson, Lowrance Electronics, Inc., 918-437-6881/
 (LEIX)


CO: Lowrance Electronics, Inc. ST: Oklahoma IN: CPR SU: ERN

SH-MG -- NY059 -- 2157 06/15/93 13:10 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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