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PERCEPTRON ANNOUNCES FIRST-QUARTER RESULTS

 FARMINGTON HILLS, Mich., May 10 /PRNewswire/ -- Perceptron, Inc. (NASDAQ Small-Cap Market: PRCP) today announced the results for the first quarter ended March 31, 1993. Net income for the first quarter increased to $121,000, or $0.03 per share on 3.9 million shares, compared to net income of $33,000, or $0.01 per share on 2.7 million shares in the comparable 1992 quarter. The increase in shares was due to the initial public offering of 1 million common shares in August 1992. Net sales for the quarter were $3.26 million, compared to $3.43 million in the comparable 1992 quarter, a decrease of 5 percent.
 "We are pleased to report gross margins increased from 57 percent to 59 percent despite lower sales," said Dwight D. Carlson, president and chief executive officer. "The improvement is due to lower costs for certain components."
 Carlson attributed the decline in sales to adverse economic conditions in Europe and Japan, where the company derived about 44 percent of its revenues in the last three years. North America remains strong because of orders from U.S. automakers, Carlson added, and the company is proceeding on a number of orders previously announced.
 Perceptron develops, manufactures and markets non contract measurement and guidance solutions comprised of proprietary software and laser-based datacameras and image processing hardware which are used in the production of large formed parts and assemblies such as cars, trucks and appliances. Perceptron products are marketing in North America, Europe and Japan.
 PERCEPTRON, INC.
 Selected Financial Data
 Condensed Consolidated Operating Results
 (Unaudited; in 000s, except per share data)
 Three months ended March 31,
 1993 1992
 Net Sales $3,260 $3,433
 Cost of sales 1,347 1,478
 Gross profit 1,913 1,955
 Selling, general & administrative 1,330 1,149
 Research & development 477 434
 Other expenses (income) (15) 339
 Net income $ 121 $ 33
 Net income per share $ .03 $ .01
 CONDENSED CONSOLIDATED BALANCE SHEET
 (In 000s)
 March 31 December 31
 1993 1992
 Current assets $8,459 $8,167
 Property and equipment, net 765 786
 Other assets 13 13
 Total assets $9,237 $8,966
 Current liabilities $1,759 $1,625
 Long-term debt --- ---
 Capital leases 109 90
 Shareholders' equity 7,369 7,251
 Total liabilities and
 shareholders' equity $9,237 $8,966
 -0- 5/10/93
 /CONTACT: Dwight D. Carlson, president & CEO, or Joseph Ben-Gal, vice president finance and CFO of Perceptron, Inc., 313-478-7710/
 (PRCP)


CO: Perceptron, Inc. ST: Michigan IN: CPR AUT SU: ERN

DH -- DE007 -- 6357 05/10/93 09:51 EDT
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Publication:PR Newswire
Date:May 10, 1993
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