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NU HORIZONS REPORTS STRONG FIRST QUARTER GAINS; EARNINGS RISE 289 PERCENT ON 53 PERCENT SALES INCREASE

 AMITYVILLE, N.Y., June 23 /PRNewswire/ -- Nu Horizons Electronics Corp. (NASDAQ-NMS: NUHC), a leading distributor of active and passive electronics components and provider of industrial contract manufacturing services, today reported strong gains in earnings and sales for the first quarter ended May 31, 1993.
 Net income climbed 289 percent to $1,037,078 or 20 cents per share from $266,336 or 5 cents per share for the same period last year. Sales for the initial three months of fiscal 1994 rose 53 percent to $20,297,501 from $13,279,443 for the like period of the prior year.
 "The substantial gains stem from the continuing strong demand for our specialty high technology products among a steadily growing customer base," Arthur Nadata, president, said. "We anticipate further market penetration through recently opened offices in Cleveland and Orlando. In addition, our Nu Visions contract manufacturing subsidiary, opened last year, has been receiving an increasing number of customer inquiries, supporting our belief that this operation will reach the break-even level by the end of this fiscal year," he added.
 NU HORIZONS ELECTRONICS CORP.
 Financial Highlights
 (Unaudited)
 Three Months Ended May 31 1993 1992
 Net sales $20,297,501 $13,279,443
 Income before provision for
 income taxes 1,751,747 443,893
 Provision for income taxes 714,669 177,557
 Net income 1,037,078 266,336
 Earnings per share:
 Primary $.20 $.05
 Fully diluted $.20 $.05
 Average shares outstanding:
 Primary 5,172,072 5,032,502
 Fully diluted 5,229,691 5,210,412
 -0- 6/23/93
 /CONTACT: Paul Durando of Nu Horizons Electronics, 516-226-6000/
 (NUHC)


CO: Nu Horizons Electronics Corp. ST: New York IN: CPR SU: ERN

CK-PS -- NY022 -- 4911 06/23/93 10:01 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
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