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METRO TEL REPORTS SETTLEMENT OF LAW SUIT AGAINST HARRIS CORPORATION

 JERICHO, N.Y., July 9 /PRNewswire/ -- Metro Tel Corp. (NASDAQ: MTRO) announced today that it had reached a settlement of its patent infringement law suit against Harris Corporation (NYSE: HRS) related to certain telephone test equipment known as "butt sets." Metro Tel reported that it is receiving a cash payment and the parties are exchanging mutual releases. Metro Tel stated that as a result of the settlement it would record a one-time credit to earnings for its fiscal year ended June 30, 1993 of approximately $115,000, net of all professional expenses related to the action incurred during that year (including professional expenses previously charged to earnings during the year) and after giving effect to estimated income taxes thereon. Fourth quarter earnings would be increased by approximately $230,000, net of professional expenses for the quarter and after giving effect to estimated income taxes thereon.
 Metro Tel is a manufacturer of telephone test equipment and telephone peripheral products.
 -0- 7/9/93
 /CONTACT: V. Indelicato of Metro Tel Corp., 516-937-3420/
 (MTRO HRS)


CO: Metro Tel Corp.; Harris Corporation ST: New York IN: TLS SU:

LG-OS -- NY020 -- 9837 07/09/93 10:28 EDT
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Publication:PR Newswire
Date:Jul 9, 1993
Words:193
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