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QUAD SYSTEMS REPORTS FISCAL 1993 RESULTS

 HORSHAM, Pa., Nov. 9 /PRNewswire/ -- Quad Systems Corporation (NASDAQ: QSYS) today reported that net sales for the three- and 12-month periods ended Sept. 26, 1993, increased by 49 percent and 74 percent, respectively, over the comparable periods of the prior year.
 Operating results for the year were favorably impacted by shipment of the Quad IVc, an assembly system incorporating laser alignment, and an increase in International revenues to 23 percent of consolidated sales, up from 17 percent last year. Net income for the fourth quarter and fiscal year ended Sept. 26, 1993, increased by 172 percent and 307 percent, respectively, over the comparable periods of the prior year.
 Fiscal 1993 net income was favorably impacted by tax benefits which contributed $.14 per share in the fourth quarter and $.12 per share for the year. The company expects to have an effective tax rate in the 25 percent to 30 percent range for its fiscal 1994 year.
 QUAD SYSTEMS CORPORATION
 Condensed Consolidated Summary of Operations
 (Unaudited; in thousands, except share data)
 Three months Fiscal year
 Periods ended 9/26/93 9/27/92 9/26/93 9/27/92
 Net sales $10,104 $6,803 $34,773 $20,029
 Cost of products sold 6,020 4,174 19,964 12,915
 Gross profit 4,084 2,629 14,809 7,114
 Engineering, research and
 development 769 620 2,966 2,034
 Selling and marketing 1,674 1,058 5,947 3,038
 Administrative and general 549 197 2,182 821
 Total 2,992 1,875 11,095 5,893
 Income from operations 1,092 754 3,714 1,221
 Interest (income) expense,
 net (36) 14 22 48
 Income before income taxes 1,128 740 3,692 1,173
 Income tax (benefit) expense (598) 106 (399) 167
 Net income 1,726 634 4,091 1,006
 Net income per share $.41 $.26 $1.23 $.46
 Weighted average common and
 common equivalent
 shares 4,236,519 2,404,161 3,313,479 2,209,208
 Consolidated Condensed Balance Sheet
 (In thousands)
 Sept. 26 Sept. 27
 1993 1992
 Cash and cash equivalents $2,087 $363
 Short-term investments 3,949 ---
 Accounts receivable, net 6,620 4,452
 Inventories 7,252 3,454
 Other 947 36
 Total current assets 20,855 8,305
 Equipment and leasehold
 improvements, net 1,372 637
 Other assets 771 217
 Goodwill, net 971 ---
 Total assets 23,969 9,159
 Current liabilities 5,820 4,549
 Long-term debt, less current portion 502 502
 Other liabilities --- 7
 Redeemable preferred stock, including
 dividends in arrears --- 13,606
 Total liabilities 6,322 18,664
 Common stockholders'
 equity (deficit) 17,647 (9,505)
 Total liabilities and equity 23,969 9,159
 Additional financial data
 (In thousands, except shares outstanding and number of employees)
 Working capital $15,035 $3,756
 Shares outstanding 3,952,368 305,667
 Number of employees 216 129
 Backlog 5,400 3,826
 /delval/
 -0- 11/9/93
 /CONTACT: Dominique Badel, investor relations of Quad Systems, 215-784-4506/
 (QSYS)


CO: Quad Systems Corporation ST: Pennsylvania IN: CPR SU: ERN

JM-LJ -- PH042 -- 2404 11/09/93 16:04 EST
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Date:Nov 9, 1993
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