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PSC INC. REPORTS FIRST HALF REVENUE UP 7 PERCENT

 ROCHESTER, N.Y., July 22 /PRNewswire/ -- PSC Inc. (NASDAQ-NMS: PSCX) today announced revenues for the six months ended June 30, 1993, were $17,533,000, up 6.8 percent from $16,422,000 for the similar period in 1992. Net income was $912,000 compared with $2,488,000 during the similar period in 1992. On a per share basis, earnings for 1993 were $.12 versus $.34 in 1992. Weighted average common shares and equivalents totaled 7,511,000 compared with 7,363,000 for the first six months of 1992.
 Second quarter 1993 sales were $8,991,000. 1992 revenues for the similar quarter, which reflected significant sales to a single major U.S. customer, totaled $9,343,000. Net income was $322,000 or $.04 per share for the second quarter 1993. 1992 second quarter income of $1,572,000 equated to $.21 per share. Weighted average common shares and equivalents totaled 7,554,000 compared with 7,461,000 for the second quarter last year.
 L. Michael Hone, chairman and chief executive officer, said: "We remain optimistic about the long term outlook for our industry. To support our strategic plan, PSC will continue to make substantial investments in engineering, product development and international market expansion."
 Hone added: "While domestic revenues reflect a soft economy, European sales continue to grow. Overall, our investments will help insure our long term strength and competitiveness while staying focused on our core business and technology."
 PSC Inc. is a leading manufacturer of laser scanners, interface modules, quality control instruments and film masters for Bar Code data collection systems. PSC is located in the Rochester, N.Y., area.
 PSC INC. & SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 (ALL AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
 THREE MONTHS ENDED JUNE 30
 (UNAUDITED)
 1993 1992
 NET SALES $8,991 $9,343
 COST OF SALES 4,705 4,590
 GROSS PROFIT $4,286 $4,753
 OPERATING EXPENSES:
 ENGINEERING, RESEARCH &
 DEVELOPMENT $ 976 $ 475
 SG&A EXPENSES 2,846 2,223
 INCOME FROM OPERATIONS $ 464 $2,055
 OTHER INCOME (EXPENSE) 48 (151)
 INCOME BEFORE INCOME TAXES $ 512 $1,904
 PROVISION FOR INCOME TAXES 190 332
 NET INCOME $ 322 $1,572
 NET INCOME PER COMMON & COMMON
 EQUIVALENT SHARE $ 0.04 $ 0.21
 WEIGHTED AVG. NUMBER O/S:
 COMMON SHARES 7,270 6,788
 COMMON EQUIVALENT SHARES 284 673
 TOTAL 7,554 7,461
 SIX MONTHS ENDED JUNE 30
 (UNAUDITED)
 1993 1992
 NET SALES $17,533 $16,422
 COST OF SALES 9,031 8,317
 GROSS PROFIT $ 8,502 $ 8,105
 OPERATING EXPENSES:
 ENGINEERING, RESEARCH &
 DEVELOPMENT $ 1,714 $ 923
 SG&A EXPENSES 5,464 4,125
 INCOME FROM OPERATIONS $ 1,324 $ 3,057
 OTHER INCOME (EXPENSE) 79 (168)
 INCOME BEFORE INCOME TAXES $ 1,403 $ 2,889
 PROVISION FOR INCOME TAXES 491 401
 NET INCOME $ 912 $ 2,488
 NET INCOME PER COMMON & COMMON
 EQUIVALENT SHARE $ 0.12 $ 0.34
 WEIGHTED AVG. NUMBER O/S:
 COMMON SHARES 7,182 6,722
 COMMON EQUIVALENT SHARES 329 641
 TOTAL 7,511 7,363
 PSC INC. & SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (ALL AMOUNTS IN THOUSANDS)
 JUNE 30
 (UNAUDITED) DECEMBER 31
 1993 1992
 ASSETS
 TOTAL CURRENT ASSETS $19,218 $18,905
 TOTAL PROPERTY, NET 4,595 3,775
 TOTAL INTANGIBLE ASSETS, NET 3,072 2,312
 TOTAL ASSETS $26,885 $24,992
 LIABILITIES & SHAREHOLDERS' EQUITY
 TOTAL CURRENT LIABILITIES $ 4,935 $ 4,780
 TOTAL LONG-TERM LIABILITIES 1,602 1,680
 TOTAL SHAREHOLDERS' EQUITY 20,348 18,532
 TOTAL LIABILITIES &
 SHAREHOLDERS' EQUITY $26,885 $24,992
 -0- 7/22/93
 /CONTACT: L. Michael Hone, chairman and chief executive officer, or William E. Hollis, vice president finance and treasurer, both of PSC Inc., 716-265-1600/
 (PSCX)


CO: PSC Inc. ST: New York IN: CPR SU: ERN

KL -- CL040 -- 4824 07/22/93 17:33 EDT
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Date:Jul 22, 1993
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