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RADIATION SYSTEMS ANNOUNCES NEW CONTRACTS TOTALING $5.7 MILLION; SAYS IT KNOWS OF NO REASON FOR DECLINE IN SHARE PRICE

RADIATION SYSTEMS ANNOUNCES NEW CONTRACTS TOTALING $5.7 MILLION;
 SAYS IT KNOWS OF NO REASON FOR DECLINE IN SHARE PRICE
 STERLING, Va., June 23 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS) today announced that it has recently been awarded five new contracts with a total value of approximately $5.7 million. At the same time, the company said that it knows of no reason for the recent decline in the price of its common shares. The stock's high price for the year was $19.50, reached in February 1992; it closed yesterday (June 22) at $11.75.
 The new business includes a letter of intent to supply an antenna system to the Indiana Higher Education Telecommunication system (IHETS), with the initial assignment valued at $1.5 million. In addition, Paramax awarded the company's Electromechanical Systems Division, based in Largo, Fla., a $1.0 million contract related to the NEXRAD (Next Generation Weather Radar) program for the nationwide replacement of 1957-vintage radar that is currently used to track weather patterns. That division also was awarded a contract valued at $1.3 million that represents five work orders of a Basic Ordering Agreement for the overhaul of U.S. Navy shipboard radar antenna pedestals.
 The company's SatCom Technologies Division in Duluth, Ga., booked a $1.0 million contract with AT&T for an Intelsat "A" Station for a foreign government. The Technical Products Division located in Sterling was awarded a contract from Loral Aerospace for approximately $700,000 for a classified use.
 Company Chairman and Chief Executive Officer Richard E. Thomas specifically cited the contract from IHETS as one that offers significant future growth potential. Radiation Systems will provide IHETS an antenna system that will initially include a seven-meter compressed digital video antenna uplink system and 14 downlink systems to be located at colleges throughout the state. The system will use compressed digital video which will eventually allow eight channels to be transmitted simultaneously on a single transponder. The company believes this is the first system of its type to be designed and installed. Ultimately, Thomas said, it is expected that additional downlinks will be used to interconnect the entire educational network of IHETS. Thomas noted that the system is comparable to one the company is installing in Kentucky. In that system, he said, the initial contract called for the company to install 1,300 downlinks and ultimately grew to 2,000 downlinks.
 As to the price of the company stock, Thomas noted that in the first nine months of this year, the company has achieved revenues of $97.0 million and earnings of 91 cents per share. He said that the third quarter, which ended March 31, 1992, was the 14th quarter in a row of improved operating income and that fiscal 1992 will be the fourth consecutive year of record revenues and income. He said that he feels "confident" that the company will meet analyst expectations for earnings for the current year. Last year the company earned $1.01 per share.
 Thomas said that the company has experienced "modest delays" in the award of new contracts during the past six months, however, indications are that the flow of contracts will now be more predictable and will develop within the first and second quarter of fiscal year 1993. He said the company's business and marketing efforts are "more robust than ever before in our history."
 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.
 -0- 6/23/92
 /CONTACT: Richard E. Thomas, chairman and CEO, or Mark D. Funston, chief financial officer, Radiation Systems, 703-450-5680/ CO: Radiation Systems, Inc. ST: Virginia IN: CPR SU: CON


TW -- DC020 -- 2896 06/23/92 14:05 EDT
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Date:Jun 23, 1992
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