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LXE ANNOUNCES FIRST QUARTER 1993 RESULTS

 ATLANTA, April 22 /PRNewswire/ -- LXE Inc. (NASDAQ: LXEI) reported that net sales for the 1993 first quarter increased to $11.7 million from $10.8 million in the same period in 1992.
 Net earnings were $575,000 for the first quarter of 1993, compared with $870,000 for the first quarter of 1992. Earnings per share were $.10 for the first quarter of 1993, compared with $.15 for the first quarter of 1992. The change in earnings reflects costs associated with the introduction of a new generation of network controllers and radio frequency units, the start-up of a German sales subsidiary, and a sales and marketing organization that was otherwise stable as compared with the fourth quarter of 1992, but had been expanded as compared to the 1992 first quarter.
 LXE Inc. is a leading supplier of wireless data communications systems for real-time transaction processing in materials handling operations. An LXE system utilizes mobile, wireless terminals that are radio-linked with a host computer. Typical customers are medium and large companies that have substantial inventories or complex distribution networks.
 LXE INC.
 Consolidated Statements of Earnings
 Quarters Ended March 31
 (In thousands, except earnings per share)
 1993 1992
 Net sales $11,710 $10,833
 Cost of sales 5,119 4,689
 Gross profit 6,591 6,144
 Selling, general and admin. expense 3,916 3,266
 Product development and engineering expense 1,774 1,489
 Operating income 901 1,389
 Interest and other income 48 79
 Interest expense (54) (65)
 Earnings before income taxes 895 1,403
 Income taxes 320 533
 Net earnings $ 575 $ 870
 Earnings per common and common equiv. share $ .10 $ .15
 Wtd. avg. number of common and common
 equivalent shares 5,765 5,862
 Condensed Consolidated Balance Sheet
 March 31, 1993
 (in thousands)
 Cash & investments $ 3,774 Current liabilities $ 4,955
 Accts. receivable 11,014 Long-term debt 2,926
 Inventories 9,903 Other liabilities 608
 Net property, plant and
 equipment 10,546
 Other assets 1,091 Stockholders' equity 27,839
 Total $36,328 Total $36,328
 -0- 4/22/93
 /CONTACT: Don T. Scartz, vice president-Finance of LXE, 404-447-4224, ext. 4850/
 (LXEI)


CO: LXE Inc. ST: Georgia IN: CPR SU: ERN

BN-BR -- AT015 -- 9656 04/22/93 15:53 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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