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MAGNETECH REPORTS THIRD QUARTER RESULTS

 FORT LAUDERDALE, Fla., April 19 /PRNewswire/ -- Magnetech Corp. (NASDAQ: TAPE) reported sales nearly tripled for the nine months ended March 31, 1993 to $11,074,964 from $3,732,395 in the prior year. Net earnings were $187,953 vs. $246,327 in 1991. The company is adding equipment and training personnel on a massive scale to handle the extremely rapid growth rate. Management is confident this negative impact on bottom line profits will abate in the coming fourth quarter and margins will begin to improve rapidly.
 MAGNETECH CORPORATION
 Third Quarter Ended Nine Months Ended
 March 31, March 31,
 1993 1992 1993 1992
 Net Sales $4,299,232 $1,308,359 $11,074,964 $3,732,395
 Profit/(Loss)
 Before Taxes ( 2,656) 150,643 300,713 392,866
 Income Taxes
 (Credit) ( 4,460) 56,529 113,400 146,539
 Net Income $ 1,804 $ 94,104 $ 187,953 $ 246,327
 Per Share $ .00 $ .02 $ .04 $ .05
 SUPPLEMENTAL
 INFORMATION
 Depreciation 162,161 75,000 453,928 255,000
 Cash Flow 163,965 169,104 641,881 501,327
 Cash Flow Per Share .04 .04 .14 .11
 -0- 4/19/93
 /CONTACT: Donald E. Courtney of Magnetech Corp., 305-835-2214/
 (TAPE)


CO: Magnetech Corporation ST: Florida IN: SU: ERN

JJ-AW -- FL011 -- 7375 04/19/93 12:10 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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