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RADIATION SYSTEMS, INC., ANNOUNCES RESULTS FOR FISCAL 1993 FIRST QUARTER; PROFIT AND BACKLOG INCREASING

 RADIATION SYSTEMS, INC., ANNOUNCES RESULTS FOR
 FISCAL 1993 FIRST QUARTER; PROFIT AND BACKLOG INCREASING
 STERLING, Va., Oct. 27 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS), today announced that in the first quarter of its 1993 fiscal year, profits were again up over the first quarter of last fiscal year. Revenues for the three-month period ended Sept. 30, 1992, were $32.5 million, a 4 percent decrease from the $33.7 million in revenues reported in the same quarter last year. Net income rose 7 percent, from $2.4 million to $2.6 million; on a per share basis, earnings rose from 29 cents to 31 cents.
 The company attributed the earnings growth to what Richard E. Thomas, chairman and chief executive officer, cited as "our continuing ability to achieve operating efficiencies which resulted in an improvement in our pretax operating margin from 12.0 percent in the first quarter of last year to 12.4 percent in the most recent three-month period."
 New business booked during the period was $37.5 million, consistent with expectations. New business booked during the same period last year was $38.5 million. Backlog at Sept. 30, 1992, totalled $148.7 million, compared to a backlog of $143.7 million on June 30, 1992, and $173.9 million on Sept. 30, 1991.
 "As we have noted to investors over the past few quarters," Thomas said, "our backlog is being affected by several factors. Some of our larger proposals for new business are being decided upon in a slower timeframe than we had initially thought. Also, during the global economic slowdown, we have


decided that it is most prudent to place our priority on the bottom line and we have, therefore, walked away from new business opportunities that do not offer the prospect of the high quality earnings our shareholders expect from us."
 Thomas also said that new business opportunities in both the commercial and international areas for sales of the Radiation Systems' family of products and systems is greater than at any time during his 27 years with the company and that expectations for new contracts from proposals already submitted remain extremely high.
 Radiation Systems, Inc., designs, manufactures and installs a broad range of antenna turnkey systems and components for radar, air traffic control, tactical military, satellite communications, terrestrial microwave and broadcast and other specialized uses throughout the world.
 RADIATION SYSTEMS, INC.
 Comparative Highlights
 (Unaudited)
 (In thousands, except per share amounts and percentages)
 Three Months Ended
 Sept. 30,
 1992 1991 Pct. Change
 Sales $32,459 $33,656 (4)
 Earnings Before Tax 4,084 4,035 1
 Income Taxes 1,515 1,624 (7)
 Net Earnings 2,569 2,411 7
 Earnings Per Share 0.31 0.29 7
 Average and Equivalent Shares
 Outstanding 8,360 8,336
 Investment Income, Net of
 Interest Expense (Pretax) 44 32
 Operating Margins (Pretax) 12.4 pct. 12.0 pct.
 Effective Tax Rate 37.1 pct. 40.2 pct.
 Net Earnings as a Percent of Sales 7.9 pct. 7.2 pct.
 -0- 10/27/92
 /CONTACT: Richard E. Thomas, chairman and CEO, or Mark D. Funston, chief financial officer, Radiation Systems, 703-450-5680, or Douglas Poretz, Corporate PR, 703-506-1778, for Radiation Systems/
 (RADS) CO: Radiation Systems, Inc. ST: Virginia IN: CPR SU: ERN


IH -- DC022 -- 5551 10/27/92 14:58 EST
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Date:Oct 27, 1992
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