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LXE ANNOUNCES FOURTH QUARTER 1992 RESULTS

 ATLANTA, Feb. 4 /PRNewswire/ -- LXE Inc. (NASDAQ: LXEI) today announced net earnings of $766,000 for the fourth quarter of 1992, compared with $1,047,000 for the fourth quarter of 1991.
 Earnings per share were $.13 for the 1992 fourth quarter, compared with $.18 for the 1991 fourth quarter. Net sales for the 1992 fourth quarter were $11.4 million, compared with $10.7 million for the same period 1991.
 Net earnings for the year 1992 were a record $3,310,000, compared with $3,236,000 reported for the year 1991. Earnings per share for 1992 were $.57, compared with $.60 for the year 1991. Net sales increased 15 percent to a record $44.4 million for the year 1992, compared with $38.7 million for the previous year.
 Sales increased during the quarter and for the full year, but at a somewhat slower rate than had been expected, which management believes is primarily due to general economic conditions that existed throughout much of 1992. During the quarter, LXE maintained the level of its commitment to marketing efforts and to the development of new products. Although expenses in these areas remained approximately level in the last three quarters of 1992, they were higher in 1992 than in 1991; this contributed to net earnings that were lower for the 1992 fourth quarter, compared with results for 1991, and to net earnings for the full year that did not increase as rapidly as sales. Management believes, however, that these commitments were instrumental in the establishment of a new record -- $17.8 million -- in orders received during the fourth quarter. For the year, orders were a record $47.2 million, and backlog was at a record high. Some of these orders involve extended delivery schedules, and the increased year-end backlog is not expected to be converted into a sales increase for the first quarter of 1993, compared with the fourth quarter of 1992.
 LXE Inc. is a leading supplier of wireless data communications systems to the materials handling market. Typical customers are medium and large companies that have substantial inventories or complex distribution networks. In April 1991, LXE completed its initial public offering of common stock, which trades in the over-the-counter market.
 LXE INC.
 Consolidated Statements of Earnings
 (In thousands, except earnings per share)
 Qtr. ended Year ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Net sales $11,407 $10,677 $44,401 $38,721
 Cost of sales 5,066 4,446 19,127 17,413
 Gross profit 6,341 6,231 25,274 21,308
 Selling, general and
 administrative exp. 3,721 3,182 13,802 11,404
 Product development and
 engineering exp. 1,414 1,486 6,337 5,036
 Operating income 1,206 1,563 5,135 4,868
 Interest and other
 income 72 126 352 353
 Interest expense (69) --- (234) ---
 Earnings before income
 taxes 1,209 1,689 5,253 5,221
 Income taxes 443 642 1,943 1,985
 Net earnings $ 766 $ 1,047 $ 3,310 $ 3,236
 Earnings per common
 and common equivalent
 share $ .13 $ .18 $ .57 $ .60
 Wtd. avg. number of
 common and common
 equivalent shares 5,740 5,813 5,786 5,398
 Condensed Consolidated Balance Sheet
 Dec. 31, 1992
 (in thousands)
 Cash and Current liabilities $ 6,253
 investments $ 7,496 Long-term debt 3,048
 Accounts receivable 9,577 Other liabilities 606
 Inventories 8,926
 Net property, plant
 and equipment 10,400
 Other assets 771 Stockholders' equity 27,263
 Total $37,170 Total $37,170
 -0- 2/4/93
 /CONTACT: Don T. Scartz, treasurer of LXE, 404-447-4224, ext. 4850/
 (LXEI)


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

RA-BN -- AT006 -- 2940 02/04/93 11:42 EST
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Date:Feb 4, 1993
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