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NUCLEAR METALS, INC. ANNOUNCES THIRD QUARTER FISCAL 1993 RESULTS

 CONCORD, Mass., Aug. 4 /PRNewswire/ -- Nuclear Metals, Inc., (NASDAQ-NMS: NUCM) Concord, Mass., based manufacturer of specialized metal products, today announced financial results for the third quarter ended June 30, 1993.
 Net loss for the quarter was $4,000,000 or $1.74 per share on average shares outstanding of 2,294,664. This compares with net income of $348,000 or 15 cents per share on average shares outstanding of 2,294,664 for the same quarter a year earlier. Sales for the third quarter were $3,858,000 as compared to $10,745,000 for the third quarter last year.
 Net losses for the nine-month period were $2,670,000 or $1.16 per share compared with net income of $646,000 or 28 cents per share last year. Sales for the nine-month period were $14,449,000 as compared to $33,192,000 in fiscal 1992.
 Backlog as of June 30, 1993, was $9.4 million compared to $10.7 million as of September 30, 1992.
 As a result of reduced sales volume for all business segments, the company now anticipates a loss in the fourth quarter and for the fiscal year. Losses are projected to continue into the first quarter of fiscal 1994 with a return to profitability expected in the second or third quarter. The quarterly losses for the fourth quarter of fiscal 1993 and the first quarter of fiscal 1994 will be substantially lower than the loss realized in the current quarter.
 Due to continued declines in defense budgets the future of large caliber penetrator work is uncertain and continues to be aggravated by a contract dispute with a major customer. The company expects to realize strong growth for non-ordnance related products during fiscal 1994.
 Because of further declines in defense spending, NMI will reduce its workforce by approximately 25 percent during the fourth quarter and has recognized the associated costs as a charge against third quarter income.
 Nuclear Metals Financial Information
 Third Quarter Ended Nine Months Ended
 June 30, June 30, June 30, June 30,
 1993 1992 1993 1992
 Sales $3,858,000 $10,745,000 $14,449,000 $33,192,000
 Income/(loss) before
 cumulative effect
 of accounting
 change (4,000,000) 348,000 (3,770,000) 646,000
 Cumulative effect
 of accounting
 change --- --- 1,100,000 ---
 Net income/(loss) $(4,000,000) $348,000 $(2,670,000) $646,000
 Per Share Information:
 Income before
 cumulative effect of
 accounting change $(1.74) 15 cents $(1.64) 28 cents
 Cumulative effect of
 accounting change --- --- 48 cents ---
 Net income $(1.74) 15 cents $(1.16) 28 cents
 Net average number
 of shares 2,294,664 2,294,664 2,294,664 2,306,854
 Backlog --- --- $9,415,000 $15,656,000
 -0- 8/4/93
 /CONTACT: Daral D. Ferguson, vice president, finance, of Nuclear Metals, Inc., 508-263-3119/
 (NUCM)


CO: Nuclear Metals, Inc. ST: Massachusetts IN: MNG SU: ERN

JL-DJ -- NE911 -- 9549 08/04/93 16:58 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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