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QUESTECH REPORTS RESULTS

 QUESTECH REPORTS RESULTS
 FALLS CHURCH, Va., May 14 /PRNewswire/ -- QuesTech, Inc.


(NASDAQ: QTEC), Falls Church, reported financial results for the first quarter ending March 31, 1992. The results reflected an overall increase in revenues, net earnings and earnings per share vs. the same quarter in 1991.
 Revenues for the first quarter were $10.6M, an 11.4 percent increase over the $9.5M in 1991.
 Income from continuing operations increased approximately 15 percent to $225,200 from $195,800 in 1991.
 Net earnings were $74,000 compared to $63,900 in 1991, an increase of almost 16 percent.
 Vincent L. Salvatori, chairman and CEO, said: "Our positive first quarter results are extremely encouraging. We have now posted profits for nine consecutive quarters. In addition, the first quarter, which is traditionally our weakest quarter, is showing growth in both revenues and earnings. We are confident and optimistic that our cost containment and marketing initiatives will continue to bring positive results."
 QuesTech, Inc., provides a wide range of professional, scientific and engineering services in advanced technologies primarily to clients in the fields of national security, aeronautics and industrial modernization.
 QuesTech, Inc., and Subsidiaries
 Condensed Consolidated Balance Sheets
 Assets
 March 31, Dec. 31,
 1992 1991
 (Unaudited)
 Current Assets
 Cash and cash equivalents $ 264,400 $ 540,900
 Accounts receivable 10,524,900 10,375,900
 Inventories 31,500 84,600
 Prepaid expenses and other 356,200 221,400
 Deferred income taxes 438,600 504,300
 Total current assets $11,615,600 $11,727,100
 Equipment and Leasehold Improvements
 - at cost less accumulated
 depreciation and amortization 1,427,100 1,454,600
 Goodwill Less Accumulated
 Amortization of $837,300 and
 $798,700, respectively 2,099,200 2,137,900
 Other Assets 681,000 681,300
 Total Assets $15,822,900 $16,000,900
 Liabilities and Stockholders' Equity
 March 31, Dec. 31,
 1992 1991
 (Unaudited)
 Current Liabilities
 Line of Credit $ 1,522,400 $ 707,200
 Current maturities of
 long-term obligations payable 263,400 402,600
 Accounts payable 1,604,200 1,696,000
 Accrued liabilities 5,273,800 5,862,800
 Income taxes
 Currently payable 8,200 7,000
 Deferred -- --
 Total current liabilities $ 8,672,000 $ 8,675,600
 Long-Term Obligations 224,000 289,500
 Indebtedness to Related Parties 559,400 648,500
 Subordinated Note 560,800 603,400
 Deferred Credits 1,117,200 1,171,500
 Total Liabilities $11,133,400 $11,388,500
 Stockholders' Equity
 Common stock -- authorized
 3,000,000 shares of $.05 par
 value, issued 1,578,000 shares,
 outstanding 1,568,000 shares
 at March 31, 1992, and Dec. 31, 1991 78,900 78,900
 Additional paid in capital 2,722,700 2,722,700
 Retained earnings 1,917,900 1,843,900
 Less Treasury Stock at cost (30,000) (30,000)
 Cumulative translation adjustment -- (3,100)
 Total Stockholders' Equity $ 4,689,500 $ 4,612,400
 Total Liabilities
 and Stockholders' Equity $15,822,900 $16,000,900
 Consolidated Statements of Earnings (Unaudited)
 Three Months Ended March 31,
 1992 1991
 Revenues $10,616,400 $ 9,530,200
 Operating expenses
 Salaries, wages and employee benefits 5,714,400 5,620,200
 Other operating expenses 4,676,800 3,714,200
 Research and development expenses -- --
 Total operating expenses $10,391,200 $ 9,334,400
 Income from continuing operations 225,200 195,800
 Other income (expense)
 Interest expense (85,600) (75,300)
 Earnings before income taxes and
 discontinued operations $ 139,600 $ 120,500
 Provision for income taxes 65,600 56,600
 Earnings from continuing operations $ 74,000 $ 63,900
 Discontinued operations -- --
 Net earnings $ 74,000 $ 63,900
 Earnings per share
 Primary $ 0.05 $ 0.04
 Fully diluted $ 0.05 $ 0.04
 Common shares and equivalents outstanding
 Primary 1,568,000 1,568,000
 Fully diluted 1,568,000 1,582,600
 -0- 5/14/92
 /CONTACT: Vincent L. Salvatori, chairman and CEO, QuesTech, 703-760-1005/
 (QTEC) CO: QuesTech, Inc. ST: Virginia IN: SU:


DC -- DC029 -- 0459 05/14/92 17:09 EDT
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Date:May 14, 1992
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