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OEA INC. CONTINUES RECORD PERFORMANCE

 DENVER, Oct. 7 /PRNewswire/ -- Ahmed D. Kafadar, chairman and chief executive officer of OEA Inc. (NYSE: OEA), the Denver-based, high- technology manufacturer of aerospace and automotive safety products, reported record sales and operating profit for the fiscal year ended July 31, 1993.
 Net sales and operating profit for 1993 were a record $94,184,200 and $23,632,800, respectively, compared to prior-year sales of $88,071,700 and operating profit of $18,481,800. Net earnings and earnings per share for fiscal year 1993 were $14,571,100 and $.72, respectively, compared to prior-year net earnings of $15,249,000 and earnings per share of $.75. Fiscal year 1993 net earnings include $397,800, or $.02 per share, related to a technology transfer agreement for the Japanese FSX program. Fiscal year 1992 net earnings included $2,739,300, or $.14 per share, related to a technology transfer and manufacturing agreement for OEA's air bag initiators. Eliminating the effect of the above agreements, prior-year net earnings from operations were $12,509,700 and earnings per share were $.61, and current-year net earnings from operations were $14,173,300 and earnings per share were $.70.
 Sales and earnings during the fourth quarter were $27,509,200 and $4,153,500, respectively, compared to sales of $21,626,100 and earnings of $5,288,400 for the fiscal year 1992 fourth quarter. Net earnings for the prior-year fourth quarter, after eliminating the air bag initiator technology transfer and manufacturing agreement income, were $2,549,100. Earnings per share for the quarter were $.20, compared to $.26 (of which $.12 per share was from operations) for the prior-year fourth quarter.
 Kafadar noted that OEA's Automotive Safety Products Initiator Division was again the primary contributor to the sales and operating profit increases over the prior year. Automotive sales increased 34 percent while non-automotive sales decreased 11 percent. Operating profit as a percentage of sales increased to 25 percent in 1993, compared to 21 percent for 1992.
 Record bookings of $98 million during the year resulted in a record year-end backlog at July 31, 1993, of $100 million, up from the $96 million a year earlier.
 OEA is a leader in the field of propellant and explosive-actuated devices used in (1) the personnel escape systems of military aircraft, missiles, and for space application and (2) the automotive air bag.
 OEA INC.
 Financial Summary
 Three Months Ended July 31,
 1993 1992
 Net sales $27,509,200 $21,626,100
 Operating profit 7,230,600 2,856,200
 Earnings before income taxes 7,138,800 7,374,700
 Federal and state income taxes 2,985,300 2,086,300
 Net earnings:
 From operations 4,153,500 2,549,100
 From technology transfer --- 2,739,300
 Total 4,153,500 5,288,400
 Net earnings per share: (note)
 From operations .20 .12
 From technology transfer --- .14
 Total $.20 $.26
 Average number of shares
 outstanding (note) 20,399,274 20,349,520
 12 Months Ended July 31,
 1993 1992
 Net sales $94,184,200 $88,071,700
 Operating profit 23,632,800 18,481,800
 Earnings before income taxes 23,676,100 23,115,900
 Federal and state income taxes 9,105,000 7,866,900
 Net earnings:
 From operations 14,173,300 12,509,700
 From technology transfer 397,800 2,739,300
 Total 14,571,100 15,249,000
 Net earnings per share: (note)
 From operations .70 .61
 From technology transfer .02 .14
 Total $.72 $.75
 Average number of shares
 outstanding (note) 20,376,308 20,315,240
 NOTE: The reported earnings per share and average number of shares outstanding reflect the 200 percent stock dividend paid Feb. 14, 1992, to the shareholders of record at the close of business on Jan. 31, 1992.
 -0- 10/7/93
 /CONTACT: A.D. Kafadar, chairman, or C.B. Kafadar, president, or J.E. Banko, senior VP/treasurer, 303-693-1248/
 (OEA)


CO: OEA Inc. ST: Colorado IN: AUT ARO SU: ERN

MF-LM -- LA004 -- 9608 10/07/93 07:56 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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