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OEA REPORTS FIRST-HALF RESULTS

 DENVER, March 10 /PRNewswire/ -- Ahmed D. Kafadar, chairman and chief executive officer of OEA Inc. (NYSE: OEA) the Denver-based, high-technology manufacturer of aerospace and automotive products, announced increased earnings on slightly lower sales for the first half and second quarter ended Jan. 31, 1993.
 Net sales and earnings for the first half were $44,682,900 and $7,033,500 respectively, as compared to first-half, prior-year sales of $44,929,700 and earnings of $6,784,600. Net earnings for the second quarter were $3,461,700 on sales of $22,234,500, up from the $3,428,200 on sales of $22,630,400 for the second quarter of fiscal year 1992.
 Earnings per share for the first half were 35 cents compared to 33 cents per share for the prior fiscal year first half. Second-quarter earnings per share were equal to the 17 cents for the prior-year second quarter.
 Kafadar noted that both sales and earnings were consistent with OEA's projections wherein the major portion of OEA's shipments for the fiscal year would occur during the second half.
 Kafadar also announced that OEA is in final negotiations with Takata Corp., Tokyo, for the purchase of OEA initiators for use in Takata U.S. Air Bag inflators. Under the finalized agreement, OEA will provide all (100 percent) of Takata U.S. requirements for model years 1994 through 1997.
 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
 Jan. 31,
 1993 1992
 Net sales $22,234,500 $22,630,400
 Operating profit 5,494,900 5,392,600
 Earnings before income taxes 5,478,300 5,392,300
 Federal and state income taxes 2,016,600 1,964,100
 Net earnings 3,461,700 3,428,200
 Net earnings per share (note) $.17 $.17
 Average number of
 shares outstanding (note) 20,371,110 20,308,530
 Six Months Ended
 Jan. 31,
 1993 1992
 Net sales $44,682,900 $44,929,700
 Operating profit 11,053,200 10,601,800
 Earnings before income taxes 11,121,500 10,683,100
 Federal and state income taxes 4,088,000 3,898,500
 Net earnings 7,033,500 6,784,600
 Net earnings per share (note) $.35 $.33
 Average number of shares
 outstanding (note) 20,361,241 20,284,161
 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- 3/10/93
 /CONTACT: A.D. Kafadar, Ext. 200; C.B. Kafader, Ext. 208; J.E. Banko, Ext. 202, all of OEA, 303-693-1248/
 (OEA)


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

MC -- DV008 -- 8553 03/10/93 11:13 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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