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MAGNETECH CORPORATION REPORTS HIGHER REVENUES, EARNINGS

 MAGNETECH CORPORATION REPORTS HIGHER REVENUES, EARNINGS
 FORT LAUDERDALE, Fla., Oct. 15 /PRNewswire/ -- MagneTech Corporation


(NASDAQ: TAPE) announced revenues for the first fiscal quarter ended Sept. 30, 1992 were up 240 percent to $2,928,790 vs. $1,121,408 in 1991. Net income was up 40 percent to $100,014 compared to $71,776 in the previous year. The large increase in sales was attributed to the start- up of the new Indianapolis high-speed facility and the acquisition of Video Plus, Inc. of Lake Dallas, Texas on July 13, 1992.
 MAGNETECH CORPORATION
 First Quarter Ended
 Sept. 30,
 1992 1991
 SALES $2,928,790 $1,121,408
 NET INCOME 100,014 71,776
 PER SHARE $ .02 $ .01
 -0- 10/15/92
 /CONTACT: Donald E. Courtney of MagneTech Corporation, 305-835-2214/
 (TAPE) CO: MagneTech Corporation ST: Florida IN: SU: ERN


AW-JB -- FL003 -- 0212 10/15/92 08:34 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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