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PERCEPTRON ANNOUNCES RECORD EARNINGS AND SALES FOR 1992

 FARMINGTON HILLS, Mich., March 15 /PRNewswire/ -- Perceptron, Inc. (NASDAQ Small-Cap Market: PRCP) today announced record earnings and sales for the year ended Dec. 31, 1992.
 Net income for the year ended Dec. 31, 1992, was $1.8 million, or $.57 per share on 3.3 million shares, compared to a net loss of $400,000, or $.57 per share on 700,000 shares, in the preceding year. The 1991 results included a one-time write-off of an intangible asset of $2.0 million. Net sales increased 14 percent to $14.5 million from $12.6 million in the prior year.
 Net income for the fourth quarter was $400,000, or $.10 per share on 3.9 million shares, as compared to net income of $2.2 million, or $.80 per share on 2.7 million shares, in the comparable 1991 quarter. Net sales for the fourth quarter ended Dec. 31, 1992, were $3.9 million, compared to $6.2 million in the fourth quarter of 1991, a decrease of 37 percent, due to the fact that the fourth quarter of 1991 accounted for approximately half of 1991 sales. As indicated in our third-quarter earnings release, the company announced that sales for the fourth quarter of 1992 would be lower than sales in the fourth quarter of 1991. Perceptron may continue to experience significant fluctuations in its quarterly results, based in part on timing of the manufacture of new products by the international automotive industry.
 Dwight D. Carlson, president and chief executive officer, said, "1992 was a record year for Perceptron. Considering the economic climate throughout 1992, the record earnings and sales are of great significance."
 "During 1992 we made significant inroads around the world. We added new customers such as ABB Robotics, Fanuc Robotics, Honda, Key Welder, Lockheed, NASA, PICO, Sandia, Weldmation and others. These customers were in addition to our already long list of customers including: Chrysler, Ford, General Motors and Whirlpool in North America; BMW, Fiat, Mercedes-Benz, Opel, Volkswagen and Volvo in Europe; and Nissan and Toyota in Japan. While we remain hopeful that the economy will improve in 1993, we recognize that our long-term success can only be achieved through continued investment in new technologies and products which address the needs of the market. Our goal is one of continued growth in 1993 through new products and applications," added Carlson.
 Perceptron develops, manufactures and markets laser-based datacameras used in the production of large formed parts and assemblies such as cars, trucks and appliances. Perceptron products are marketed in North America, Europe and Japan.
 PERCEPTRON, INC.
 SELECTED FINANCIAL DATA
 CONDENSED CONSOLIDATED OPERATING RESULTS
 (In 000s, except per-share data)
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Net sales $3,932 $6,247 $14,462 $12,639
 Cost of sales 1,657 2,581 5,935 5,332
 Gross profit 2,275 3,666 8,527 7,307
 Selling, general &
 administrative 1,212 1,087 4,578 3,749
 Research & development 390 446 1,684 1,535
 Write-off of intangible
 asset --- --- --- 2,011
 Income from operations 673 2,133 2,265 12
 Other income (expense) (269) 51 (442) (410)
 Net income (loss) $404 $2,184 $1,823 ($398)
 Historical net income
 (loss) per share $0.10 $0.80 $0.57 ($0.57)
 Historical weighted
 average shares
 outstanding 3,939,443 2,740,503 3,272,172 696,397
 CONDENSED CONSOLIDATED BALANCE SHEET
 (In 000s)
 Dec. 31, Dec. 31,
 1992 1991
 Current assets $8,167 $6,858
 Property and equipment, net 786 619
 Other assets 13 70
 Total assets $8,966 $7,547
 Current liabilities $1,558 $3,398
 Long-term debt --- 4,390
 Capital leases 157 ---
 Redeemable convertible preferred stock --- 19,407
 Shareholders' equity (deficit) 7,251 (19,648)
 Total liabilities and shareholders' equity $8,966 $7,547
 -0- 3/15/93
 /CONTACT: Dwight D. Carlson, president & CEO, or Joseph Ben-Gal, vice president Finance & CFO, Perceptron, Inc., 313-478-7710/
 (PRCP)


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

SB -- DE017 -- 6107 03/15/93 14:25 EST
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Date:Mar 15, 1993
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