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PRINCETON REPORTS RECORD EARNINGS FOR SECOND QUARTER

 PHOENIX, Jan. 13 /PRNewswire/ -- Princeton Electronic Products (NASDAQ: PELT), a 24-year-old diversified company, announced results for the second quarter ended Nov. 30, 1993. Net income increased to $2,969,942, or $0.22 per share, compared with a loss of $140,315, or $0.01, for last year.
 For the six-month period, the company reported earnings of $5,179,244, or $.42 per share, compared with a loss of $165,464, or $0.015 per share, for the same period last year. The marked increase in earnings is a result of the growth in Princeton's equity portfolio which currently has a market value of approximately $9.3 million.
 Princeton generated $327,000 in operating capital from the issuance of its restricted common stock during this quarter, while reducing accrued expenses by $584,765 during the first two quarters of this year. In addition, the company recently announced its intention to acquire Gable Plastics Co., a manufacturer of plastic pipe products.
 "As our earnings continue to grow our mission is to pursue acquisitions and investments to further improve our performance and accelerate our operating results," 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 NOVEMBER 1991-NOVEMBER 1993
 Total Assets Shareholder Equity
 November 1991 $3,011,083 $2,689,019
 November 1992 $4,764,375 $3,904,409
 November 1993 $11,200,001 $10,042,135
 -0- 1/13/94
 /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: CPR SU: ERN

JL-MF -- LA012 -- 1705 01/13/94 09:15 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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