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METHODE ELECTRONICS ANNOUNCES RECORD FIRST QUARTER EARNINGS

 METHODE ELECTRONICS ANNOUNCES RECORD FIRST QUARTER EARNINGS
 CHICAGO, Aug. 25 /PRNewswire/ -- Methode Electronics, Inc. (NASDAQ: METH) today reported for its fiscal 1993 quarter ended July 31, 1992, record first quarter sales of $40,805,000, up 17 percent from $34,756,000 last year. Results were at an all-time quarterly high with after-tax income increasing to $3,386,000, up 37 percent from $2,475,000 a year ago. Earnings were $.30 per share for the first three months as compared to $.22 per share for the comparable period a year ago. The amounts for last year have been restated to reflect the company's fourth quarter, fiscal 1992 decision to offer its test equipment business for sale. This business lost $.02 per share for the first quarter of fiscal 1992 and is not included in the aforementioned results for that period.
 President William J. McGinley said, "Our strong start for fiscal 1992 can be traced directly to a strengthening of demand for our automotive control products as well as our offshore connector businesses. Historically, demand for automotive products is not as strong in the first quarter as the manufacturers are in the process of winding down their model year requirements. This year the trend was upbeat for the entire quarter and our results reflect operating at a much higher capacity level than a year ago.
 "Demand for our connector products for computer and communication applications firmed during the quarter especially in our international business. In the near future we will occupy an additional facility in Singapore which will more than double our factory space and capacity in the Pacific Rim. Also, late in our second quarter, we expect to move into our new facility in Dunbarton, Scotland. Domestically we expect a stronger second quarter than we enjoyed for the period ended July 31, 1992.
 "Although most of the markets we serve are holding steady, some others are not faring so well. The defense industry continues to face a down-sizing and our job is to increase our participation in a shrinking marketplace. This also hold true for the mainframe computer business which has had depressed requirements for some time now. We are hopeful that the mainframe opportunities will resurface later this calendar year but we honestly do not expect to see a repeat of the level of business we experienced just two years ago. Under the circumstances we are pleased that these two marketplaces, although still of interest to Methode, do not carry the consolidated importance that they did in the recent past," McGinley concluded.
 METHODE ELECTRONICS, INC.
 FINANCIAL HIGHLIGHTS
 Three Months Ended July 31,
 1992 1991
 Net sales $40,805,000 $34,756,000
 Other income 362,000 338,000
 Cost of products sold 29,819,000 25,858,000
 Selling and administrative expenses 6,477,000 5,647,000
 Income from continuing operations
 before income taxes 4,871,000 3,589,000
 Income taxes 1,485,000 1,114,000
 Income from continuing operations 3,386,000 2,475,000
 Loss from discontinued operations - (232,000)
 Net income 3,386,000 2,243,000
 Earnings from continuing operations
 per Common Share $.30 $.22
 Earnings per common share $.30 $.20
 Average no. of common shares outstanding 11,268,000 11,159,000
 -0- 8/25/92
 /CONTACT: Kevin Hayes, vice president and treasurer of Methode Electronics, 708-867-9600/
 (METH) CO: Methode Electronics, Inc. ST: Illinois IN: CPR SU: ERN


PS -- NY031 -- 3034 08/25/92 12:25 EDT
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Date:Aug 25, 1992
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