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LaBARGE, INC. REPORTS THIRD QUARTER EARNINGS

 ST. LOUIS, April 29 /PRNewswire/ -- LaBarge, Inc. (AMEX: LB), today announced results for its fiscal 1993 third quarter and nine months ended March 28, 1993.
 Net sales for the quarter were $20,568,000 compared to the $20,637,000 during the third quarter of fiscal 1992. For the nine months ended March 28, 1993, net sales were $58,454,000 compared to the $58,646,000 for the comparable period of fiscal 1992.
 Net earnings for the quarter were $435,000 compared to $1,153,000 reported for the third quarter of fiscal 1992. For the nine months ended March 28, 1993, net earnings were $1,356,000 compared to $2,374,000 from continuing operations and $4,709,000 total for the same period of fiscal 1992. Earnings for the nine months of fiscal 1992 include a one-time, non-operating gain of $2,335,000 due to the effect of a change in accounting for income taxes.
 Earnings available to common shareholders for the current quarter were $435,000 or 3 cents per share compared to $839,000 or 6 cents for the third quarter of last year. For the nine months, common shareholder earnings were $1,356,000 or 9 cents per share versus $3,827,000 or 28 cents per share total for the comparable nine months of fiscal 1992, including 17 cents attributable to the non-operating one-time gain. Without this accounting change, net shareholder income was $1,356,000 or 9 cents per share in fiscal 1993 versus $1,493,000 or 11 cents per share for the nine months of 1992.
 Craig E. LaBarge, chief executive officer and president, commented on the results:
 "Margins continue to be impacted by excess capacity and intense competition in a shrinking defense market. We are downsizing our capacity as needed, but it is disruptive and expensive. These costs are being absorbed in current results. Ironically three of our five plants are actually growing while two are declining.
 "We continue to successfully pursue new non-defense business. During the third quarter we received a three-year contract from a major customer valued at more than $15 million, for the production of cable assemblies used in hermetically sealed electric motors. Production is already beginning and is proceeding smoothly and on schedule. This market area offers many new and exciting opportunities and continues the aggressive expansion of our commercial business, which remains a principal objective of the company.
 "We believe we are being prudent in our response to the radically changing defense marketplace while making good progress on the commercial front."
 LaBarge, Inc., is engaged in the contract engineering and manufacture of sophisticated electronic systems and devices and complex interconnect assemblies for defense, aerospace and commercial electronics markets.
 LABARGE, INC.
 Periods Three Months Nine Months
 Ended 3/28/93 3/29/92 3/28/93 3/29/92
 Net sales $20,567,539 $20,637,347 $58,453,973 $58,646,172
 Earns. from opers. 996,227 1,881,881 3,077,500 4,802,148
 Earns. from cont.
 opers. bef. inc.
 taxes & cumula-
 tive effect of
 accounting change 459,155 1,144,013 1,430,359 2,355,741
 Income tax expense
 (benefit) 23,800 (9,300) 74,400 (19,100)
 Net earns. before
 cum. effect of
 accounting change 435,355 1,153,313 1,355,959 2,374,841
 Cum. effect of
 change in
 accounting for
 income taxes -- -- -- 2,334,522
 Net earnings 435,355 1,153,313 1,355,959 4,709,363
 Net earns. before
 cum. effect of
 accounting change 435,355 1,153,313 1,355,959 2,374,841
 Less:
 Preferred stock divs. -- 50,000 -- 150,000
 Preferred stock
 discount accretion -- 264,519 -- 732,295
 Net earns. available
 to com. shareholders
 from cont. opers. 435,355 838,794 1,355,959 1,492,546
 Cum. effect of change
 in accounting
 for income taxes -- -- -- 2,334,522
 Net earns. available
 to common share-
 holders $ 435,355 $ 838,794 $ 1,355,959 $ 3,827,068
 Earns. per com. share:
 Continuing operations
 before effect of
 accounting change $.03 $.06 $.09 $.11
 Cumulative effect
 of accounting change -- -- -- .17
 Net earnings per
 common share $.03 $.06 $.09 $.28
 Aver. common shares
 outstanding 15,002,917 13,517,591 14,999,492 13,498,941
 -0- 4/29/93
 /CONTACT: LaBarge public relations, 314-231-5960/
 (LB)


CO: LaBarge, Inc. ST: Missouri IN: ARO SU: ERN

GK-SB -- NY105 -- 2830 04/29/93 15:59 EDT
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Date:Apr 29, 1993
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