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PRINCETON REPORTS RECORD EARNINGS FOR FIRST QUARTER

 PHOENIX, Oct. 21 /PRNewswire/ -- Princeton Electronic Products (NASDAQ: PELT), a 24-year-old diversified company announced results for the first quarter ended Aug. 31, 1993. Net income increased to $2,528,195 or $0.215 per share compared with a loss of $25,119 or $0.003 for the last year.
 The marked increase in earnings is a result of a change in the company's accounting procedures which enabled Princeton to reflect, as profit, the market value of its trading securities rather than the cost of these securities as stated in past quarters. This restatement of value provides a more accurate analysis of shareholder equity and should assure a more accurate measurement of value. The company is continuing to aggressively pursue acquisitions and investments to further increase its revenues and continue to build shareholders' equity.
 "The boost in our earnings is representative of our efforts to diversify our interests and increase value to our shareholders through building a strong balance sheet," said Dale Eyman, chairman of the board for Princeton Electronic Products.
 Princeton Electronic Products Inc., headquartered in Phoenix, is a highly diversified company that specializes, through its subsidiaries, in innovative products, financial services and venture capital.
 Comparison of Growth August 1991-August 1993
 Total Assets Shareholder Equity
 August 1991 $2,307,927 $2,069,352
 February 1992 $5,316,617 $4,550,543
 August 1992 $4,508,425 $3,574,754
 February 1993 $4,873,655 $4,091,319
 August 1993 $7,522,946 $5,907,980
 -0- 10/21/93
 /CONTACT: Dale E. Eyman, CEO of Princeton Electronic Products, 800-966-7865; or Shannon T. Squyres, president of Corporate Relations Group, 714-955-1860/
 (PELT)


CO: Princeton Electronic Products ST: Arizona IN: SU: ERN

MF-LM -- LA012 -- 4899 10/21/93 06:15 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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