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PIONEER-STANDARD REPORTS RECORD $1.41 PER PRIMARY SHARE; NET INCOME UP 142 PERCENT

 CLEVELAND, May 6 /PRNewswire/ -- Pioneer-Standard Electronics, Inc. (NASDAQ: PIOS) today reported record fiscal 1993 sales, earnings and earnings per share with net income 142 percent above last year's. Fourth quarter sales and net income were quarterly records with sales 27 percent and net income 170 percent ahead of last year's.
 Net income of the Cleveland-based national distributor of industrial electronic components, computer and peripheral products for the fiscal year ended March 31, 1993 amounted to $12,913,000, up from $5,327,000 a year earlier and 56 percent ahead of the previous all-time high of $8,292,000 in fiscal 1991.
 Fiscal 1993 earnings per share were $1.41 ($1.33 fully diluted), up from 65 cents per share (63 cents fully diluted) in 1992 and $1.02 per share (94 cents fully diluted) in 1991, the prior record. Per share figures have been adjusted to reflect a 3-for-2 share split effected March 15, 1993.
 Pioneer-Standard sales for the year ended March 31 were $430,013,000, up 19 percent over the $362,386,000 of 1992, the previous record. Combined sales of Pioneer-Standard and its 50 percent-owned affiliate, Pioneer/Technologies Group, Inc., rose to a record $714,021,000, an increase of 29 percent from $552,294,000 of 1992.
 While sales of Pioneer-Standard and its affiliate are not consolidated for financial reporting purposes, they are for industry rankings. Reflecting sales gains and the increased market share for calendar year 1992, Pioneer and its affiliate, with 6.6 percent of the $10.18 billion North American industrial electronics distribution market, moved into fourth place among the nation's approximately 1,500 industrial electronics distributors.
 Pioneer reported that its affiliate made a significant contribution to earnings. Pioneer's 50 percent interest in the net income of Pioneer/Technologies in 1993 was $2,505,000, of which $489,000 was realized in the fourth quarter. This compares to full-year and fourth quarter contributions of $654,000 and $527,000, respectively, in 1992.
 Pioneer-Standard's fourth quarter net income amounted to $3,651,000, up 170 percent from the $1,350,000 of a year earlier. Earnings per share were 37 cents versus 16 cents. Fourth quarter sales were $118,080,000, an increase of 27 percent over the $93,168,000 of the 1992 final quarter. Combined Pioneer-Standard and Pioneer/Technologies sales were $195,838,000, up 30 percent over the $150,678,000 of the 1992 fiscal fourth quarter.
 Pioneer said that its sales and those of its affiliate benefited from strong demand for computers and semiconductors, particularly microprocessors. The company said that a major Pioneer-Standard expansion of sales and marketing operations in California, launched in 1992, contributed to the 1993 market share gain.
 The company attributed the earnings gains to the increase in sales and effective cost control. The company said that refined sales account management and value-added, value-based services such as technical support and systems integration also contributed to the sales and earnings gains as did the company's total quality initiative, FutureStart.
 PIONEER-STANDARD ELECTRONICS, INC.
 (Dollars in thousands except per share amounts)
 SALES AND EARNINGS
 THREE MONTHS
 Period ended March 31 1993 1992
 Combined sales (A) $195,838 $150,678
 Net sales $118,080 $93,168
 Cost of sales 92,339 73,984
 Operating expenses 19,803 16,631
 Operating profit 5,938 2,553
 Interest expense 634 1,074
 Equity earnings (A) 489 527
 Income before taxes 5,793 2,006
 Taxes 2,142 656
 Net income $3,651 $1,350
 Earnings per share:
 Primary $.37 $.16
 Fully diluted $--- $.16
 Dividends per share $.03 $.027
 Equity per share --- ---
 Average shares outstanding:
 Primary 9,968,578 8,204,623
 Fully diluted --- 9,912,666
 Shares outstanding, end
 of period (B) --- ---
 TWELVE MONTHS
 Period ended March 31 1993 1992
 Combined sales (A) $714,021 $552,294
 Net sales $430,013 $362,386
 Cost of sales 336,589 284,897
 Operating expenses 72,363 65,096
 Operating profit 21,061 12,393
 Interest expense 3,581 4,505
 Equity earnings (A) 2,505 654
 Income before taxes 19,985 8,542
 Taxes 7,072 3,215
 Net income $12,913 $5,327
 Earnings per share:
 Primary $1.41 $.65
 Fully diluted 1.33 .63
 Dividends per share $.11 $.107
 Equity per share $8.59 $7.00
 Average shares outstanding:
 Primary 9,188,512 8,204,623
 Fully diluted 9,977,669 9,915,912
 Shares outstanding, end
 of period (B) 9,793,374 8,206,248
 CONDENSED BALANCE SHEETS
 March 31, 1993 and 1992
 Assets 1993 1992
 Current assets
 Cash $1,864 $1,887
 Receivables 62,347 50,004
 Inventory 67,101 60,983
 Other 4,244 3,572
 Total $135,556 $116,446
 Net fixed assets 23,159 23,579
 Equity investment 11,462 8,957
 Other 1,683 1,889
 Total $171,860 $150,871
 Liabilities & Equity 1993 1992
 Current liabilities
 Current debt $2,500 $2,500
 Accounts payable 46,019 33,085
 Other 16,256 11,536
 Total $64,775 $47,121
 Long-term debt 21,328 44,717
 Deferred taxes 1,640 1,578
 Equity 84,117 57,455
 Total $171,860 $150,871
 (A) Sales of Pioneer-Standard Electronics, Inc. and its 50 percent owned affiliate, Pioneer/Technologies Group, Inc. are not consolidated for financial reporting purposes. Combined sales of the two organizations are shown for informational purposes. The company records 50 percent of the affiliate's net income on the equity method.
 (B) During the second fiscal quarter ended September 30, 1992, a total of 1,538,451 common shares plus cash of $916,000 was issued for the retirement of all of the company's 9 percent Subordinated Convertible Debentures. Per share figures and shares outstanding are adjusted to reflect the March 15, 1993 3-for-2 share split.
 -0- 5/6/93
 /CONTACT: John Goodger of Pioneer-Standard Electronics, Inc., 216-587-3600/
 (PIOS)


CO: Pioneer-Standard Electronics, Inc. ST: Ohio IN: CPR SU: ERN

BM -- CL002 -- 5272 05/06/93 09:33 EDT
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Date:May 6, 1993
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