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ODETICS REPORTS 22ND YEAR OF PROFITABILITY; SURGE IN FOURTH QUARTER PROFITS NOTED

 ODETICS REPORTS 22ND YEAR OF PROFITABILITY;
 SURGE IN FOURTH QUARTER PROFITS NOTED
 ANAHEIM, Calif., June 4 /PRNewswire/ -- A surge in profits during the fourth quarter ended March 31, 1992, allowed Odetics (AMEX: O.A and O.B) to achieve its 22nd consecutive year of profitable operation, the company announced today. In addition, during the fourth quarter, the company began to shift from research and development to the manufacturing of two new products, resulting in an increase in sales.
 Contract revenues and net sales for the three-month period ended March 31, 1992, were $20,109,000, compared with $19,716,000 for the fourth quarter of fiscal year 1991. Fourth quarter net income was $1,079,000, compared with $344,000 in the fourth quarter last year.
 Odetics reported fiscal year-end sales and revenues of $70,264,000, compared with $72,391,000 for the previous year. Net income for fiscal year 1992 was $89,000, compared with $1,022,000 last year. Earnings per share were $0.02. This compares with $0.24 last year.
 According to Joel Slutzky, chairman of the board and chief executive officer of Odetics, fiscal year 1992 was one of the most difficult periods ever faced by the company. "Our decision to continue R&D during a down economy made the year challenging. However, that decision paid off in the last quarter with two new automated tape libraries -- one for the computer mass storage market and one for television broadcast automation -- being delivered to customers."
 ODETICS INC.
 Condensed Statement of Income
 (In thousands except per share amounts)
 Three months ended Year ended
 March 31, March 31,
 1992 1991 1992 1991
 Revenues and sales $20,109 $19,716 $70,264 $72,391
 Net income $1,079 $344 $89 $1,022
 Earnings per share $0.24 $0.08 $0.02 $0.24
 Odetics manufactures products that provide information and control through automation. The company was founded in 1969 to design and produce high-reliability space tape recorders. Today, however, Odetics has five major operating divisions that address commercial as well as government markets. For more information or for an interview with a company official, contact Holly Barnett, public relations manager, 714-774-5000.
 -0- 6/4/92
 /CONTACT: Holly Barnett of Odetics, 714-774-5000/
 (O.A O.B) CO: Odetics ST: California IN: CPR SU: ERN


CH-JL -- LA012 -- 6898 06/04/92 09:03 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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