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OPTICAL RADIATION CORP. ANNOUNCES RESULTS

 AZUSA, Calif., Nov. 18 ~PRNewswire~ -- Optical Radiation Corp. (NASDAQ: ORCO) today reported operating results for the first fiscal quarter ended Oct. 30, 1992.
 Net income for the three-month period rose to $1,346,000, equal to $.22 per share, from $101,000, or $.02 per share, for last year's first quarter, which included a non-recurring after-tax charge of $2.3 million for a downsizing of the Cinema Digital Sound project and Orcolon-related expenses. Sales for the quarter increased to $39,808,000 from $38,498,000 a year ago.
 Richard D. Wood, president and chief executive officer, said on an operating basis, most of the company's operating units posted lower sales and earnings than the comparable prior-year period. He noted, however, that the Omega Optical subsidiary registered higher sales and operating profits.
 Wood stated that the performance for the ophthalmic surgical products division continued to be impacted in the quarter by lower average selling prices, higher product liability insurance expenses, as well as by substantially higher research and development expenses, primarily in connection with Corneal Contouring Inc. and the corneal topography system. He said results for the scientific and industrial products group were affected by generally lower levels of capital expenditures because of the recessionary environment.
 "We are moving forward with new product development in several areas of the company," added Wood. "At the same time, we are closely monitoring all expenses and addressing ways to enhance the marketing of our products during these challenging times."
 Optical Radiation designs and manufactures a wide range of precision optical components and systems for medical, industrial and scientific applications.
 OPTICAL RADIATION CORP.
 Statement of Income
 (Unaudited)
 Three Months Ended
 Oct. 30,
 1992 1991
 Sales $39,808,000 $38,498,000
 Income before provision for
 income taxes 1,979,000 137,000
 Provision for income taxes 633,000 36,000
 Net income $1,346,000 $101,000(a)
 Net income per share $.22 $.02
 Weighted average number of shares
 outstanding 6,196,000 6,600,000
 (a) Includes a non-recurring charge of $2.3 million relating to the downsizing of the Cinema Digital Sound project and Orcolon- related charges.
 -0- 11~18~92
 ~CONTACT: Richard D. Wood, president and CEO of Optical Radiation, 818-969-3344; or Roger S. Pondel of Pondel Parsons & Wilkinson, 310-207-9300, for Optical Radiation~
 (ORCO)


CO: Optical Radiation Corp. ST: California IN: MTC SU: ERN

KJ-LS -- LA007 -- 2312 11~18~92 11:32 EST
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Date:Nov 18, 1992
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