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MAGNETECH CORPORATION REPORTS HIGHER REVENUES, EARNINGS

 MAGNETECH CORPORATION REPORTS HIGHER REVENUES, EARNINGS
 FORT LAUDERDALE, Fla., May 14 /PRNewswire/ -- Magnetech Corporation (NASDAQ: TAPE) reported sales for the nine months ended March 31, 1992 increased 51 percent to $3,732,395 vs. $2,462,450 for the same period last year. Net income was $246,327 vs. $177,686, an increase of 38 percent for the comparable periods.
 For the three months ended March 31, 1992 sales were $1,308,359 vs. $971,242 in the prior year period, an increase of 35 percent. Net income rose to $94,104 vs. $44,088, up 113 percent.
 MAGNETECH CORPORATION
 Nine Month Ended Three Month Ended
 March 31, March 31,
 1992 1991 1992 1991
 Sales $3,732,395 $2,462,450 $1,308,359 $971,242
 Operating Profit 370,826 248,961 147,985 56,982
 Net Income $ 246,327 $ 177,686 $ 94,104 $ 44,088
 less than less than
 Per Share .01 .01 .01 .01
 -0- 5/14/92
 /CONTACT: Donald E. Courtney of Magnetech Corporation, 305-791-6711/
 (TAPE) CO: Magnetech Corporation ST: Florida IN: SU: ERN


JB-AW -- FL011 -- 0458 05/14/92 17:08 EDT
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Publication:PR Newswire
Date:May 14, 1992
Words:186
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