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PERCEPTRONICS ANNOUNCES FIRST QUARTER RESULTS

 PERCEPTRONICS ANNOUNCES FIRST QUARTER RESULTS
 WOODLAND HILLS, Calif., Aug. 17 /PRNewswire/ -- Perceptronics


Inc. (NASDAQ: PERC) today reported net income for its first fiscal quarter ended June 30, 1992 of $13,616, or less than one cent per share, on total revenues of $5,395,480. In its year-ago first fiscal quarter, the company had net income of $90,472, or two cents per share, on total revenues of $5,573,572. Included in net income for the current quarter is an extraordinary credit of $4,700, representing a net operating loss carryforward. Of the year earlier net income, $35,500, or one cent per share, was attributable to the carryforward.
 "Litigation expenses related to our legal action to recover improper and excessive charges from a subcontractor affected our profitability," said Dr. Gershon Weltman, chairman and chief executive officer. "We have stepped up our marketing efforts to position Perceptronics for future revenue growth, and at the same time aggressively reduced other overhead in order to maintain profitability."
 At June 30, 1992, Perceptronics' firm backlog was $7.8 million; with option backlog of $34.1 million, the company's total backlog amounted to $41.9 million at the end of the quarter. At year end, March 31, 1992, Perceptronics' firm backlog was $12.8 million; option backlog amounted to $34.4 million for a total year-end backlog of $47.2 million.
 Based on these backlog figures -- which are principally military- related -- and the current capabilities of Perceptronics to build its commercial product sales, the company has indicated it anticipates total revenues for the fiscal 1993 year ending March 31, 1993, could decrease 20 percent to 25 percent from $25.1 million for fiscal 1992.
 Perceptronics is engaged in research and development and in the manufacture and marketing of computer-based simulation software and systems for commercial and military training and decision support.
 PERCEPTRONICS INC. AND SUBSIDIARY
 Consolidated Condensed Statements of Income
 (Unaudited)
 Three Months Ended
 June 30,
 1992 1991
 Revenues
 Sales $5,378,236 $5,457,513
 Interest 17,244 116,059
 Total revenues 5,395,480 5,573,572
 Cost and expenses
 Cost of sales 4,174,612 4,296,028
 General & administrative 890,637 769,245
 Research & development 27,765 174,666
 Interest 287,450 233,861
 Total cost & expenses 5,380,464 5,473,800
 Income before income taxes and
 extraordinary item 15,016 99,772
 Provision for income taxes 6,100 44,800
 Income before extraordinary item 8,916 54,972
 Extraordinary credit for
 utilization of net operating
 loss carryforward 4,700 35,500
 Net income $13,616 $90,472
 Per share amount --
 Primary and
 fully diluted
 Income before extraordinary item --- $.01
 Extraordinary item --- $.01
 Net income --- $.02
 Average number of common and
 common equivalent shares 3,488,686 3,788,246
 -0- 8/17/92
 /CONTACT: Dr. Gershon Weltman of Perceptronics, 818-884-7470; or Cecilia A. Wilkinson or Kim P. Feazle of Pondel Parsons & Wilkinson 310-207-9300, for Perceptronics/
 (PERC) CO: Perceptronics Inc. ST: California IN: ARO SU: ERN


EH -- LA017 -- 0555 08/17/92 13:32 EDT
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Date:Aug 17, 1992
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