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PSC INC. REPORTS THIRD QUARTER REVENUE OF $9.7 MILLION

 ROCHESTER, N.Y., Oct. 21 /PRNewswire/ -- PSC Inc. (NASDAQ-NMS: PSCX) today reported third quarter 1993 sales of $9,696,000. 1992 revenues for the similar quarter, which reflected significant sales to a single major U.S. customer, totaled $10,554,000. Net income was $329,000 or $.04 per share compared with $1,330,000 or $.18 per share in the third quarter of 1992. Weighted average common shares and equivalents totaled 7,419,000 compared with 7,504,000 for the third quarter last year.
 Revenues for the nine months ended Sept. 30, 1993, were $27,230,000 up 1 percent from $26,976,000 for the similar period in 1992. Net income was $1,241,000 compared with $3,818,000 during the similar period in 1992. On a per share basis, earnings for the initial nine months of 1993 were $.17 versus $.52 in 1992. Weighted average common shares and equivalents totaled 7,509,000 compared with 7,305,000 for the initial nine months.
 L. Michael Hone, chairman and chief executive officer, stated, "Revenues for the first nine months of 1993 have shown quarter-over- quarter growth, and third quarter revenue was over 13 percent greater than the first quarter. These year to date results met our expectations and reflect the impact of several factors, including a less than vibrant U.S. economy, significant 1992 sales to a single customer, offset in part by continued strong progress in European sales."
 Hone continued to emphasize a positive long term outlook for the industry. He said, "PSC's multi-year plan has been structured to support continued growth and reflects the company's ongoing strategy and commitment to invest in new technology, product development and selected overseas market expansion."
 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
 SEPTEMBER 30
 (UNAUDITED)
 1993 1992
 NET SALES $9,696 $10,554
 COST OF SALES 5,183 5,156
 GROSS PROFIT $4,513 $5,398
 OPERATING EXPENSES:
 ENGINEERING, RESEARCH &
 DEVELEPMENT $1,045 $673
 SG&A EXPENSES 3,100 2,671
 INCOME FROM OPERATIONS $368 $2,054
 OTHER INCOME (EXPENSE) 56 (26)
 INCOME BEFORE INCOME TAXES $424 $2,028
 PROVISION FOR INCOME TAXES 95 698
 NET INCOME $329 $1,330
 NET INCOME PER COMMON & COMMON
 EQUIVALENT SHARE $0.04 $0.18
 WEIGHTED AVG. NUMBER O/S:
 COMMON SHARES 7,214 7,020
 COMMON EQUIVALENT SHARES 205 484
 TOTAL 7,419 7,504
 NINE MONTHS ENDED SEPT. 30
 1993 1992
 NET SALES $27,230 $26,976
 COST OF SALES 14,215 13,473
 GROSS PROFIT $13,015 $13,503
 OPERATING EXPENSES:
 ENGINEERING, RESEARCH &
 DEVELOPMENT $2,759 $1,596
 SG& A EXPENSES 8,563 6,796
 INCOME FROM OPERATIONS $1,693 $5,111
 OTHER INCOME (EXPENSE) 135 (194)
 INCOME BEFORE INCOME TAXES $1,828 $4,917
 PROVISION FOR INCOME TAXES 587 1,099
 NET INCOME $1,241 $3,818
 NET INCOME PER COMMON & COMMON
 EQUIVALENT SHARE $0.17 $0.52
 WEIGHTED AVG. NUMBER O/S:
 COMMON SHARES 7,193 6,822
 COMMON EQUIVALENT SHARES 316 483
 TOTAL 7,509 7,305
 PSC INC & SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (ALL AMOUNTS IN THOUSANDS)
 SEPTEMBER 30 DECEMBER 31
 (UNAUDITED)
 1993 1992
 ASSETS
 TOTAL CURRENT ASSETS $19,747 $18,905
 TOTAL PROPERTY, NET $5,336 $3,775
 TOTAL INTANGIBLE ASSETS, NET $3,044 $2,312
 TOTAL ASSETS $28,127 $24,992
 LIABILITIES & SHAREHOLDERS' EQUITY
 TOTAL CURRENT LIABILITIES $6,026 $4,780
 TOTAL LONG-TERM LIABILITIES $1,549 $1,680
 TOTAL SHAREHOLDERS' EQUITY $20,552 $18,532
 TOTAL LIABILITIES &
 SHAREHOLDERS' EQUITY $28,127 $24,992
 -0- 10/21/93
 /CONTACT: L. Michael Hone, chairman and chief executive officer, or William E. Hollis, vice president finance & treasurer, of PSC Inc., 716-265-1600/
 (PSCX)


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

AR -- CL040 -- 5456 10/21/93 16:58 EDT
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Date:Oct 21, 1993
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