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RADIATION SYSTEMS REPORTS THIRD QUARTER FY 1993 RESULTS

 STERLING, Va., April 26 /PRNewswire/ -- Radiation Systems, Inc. (NASDAQ-NMS: RADS), today announced that revenues for the third quarter ended March 31, 1993, were $28.4 million compared to $31.8 million in the same quarter last year, a reduction of 11 percent. Net income was $2.5 million, or 30 cents per share, compared to $2.6 million, or 31 cents per share, in last year's third quarter, a decrease of 3 percent. Net income for the quarter was favorably affected by a tax adjustment of approximately $300,000 resulting from a 28 percent tax rate for this fiscal year's third quarter compared to last year's third quarter rate of 37 percent. The lesser tax rate was due to the completion during the quarter of a long-term contract for which income taxes had been deferred at a 46 percent tax rate, consistent with the rate in effect when the contract was started approximately six years ago. For the nine months ended March 31, 1993, net income was $7.3 million (88 cents per share) on revenues of $90.2 million, compared to net income of $7.6 million (91 cents per share) on revenues of $97.0 million for the same period last year.
 New orders for the quarter ended March 31, 1993, were $21.0 million. Consequently, backlog declined by $7.4 million to $134.7 million as of March 31, 1993, compared to $142.1 million at Dec. 31, 1992, and $155.6 million at March 31, 1992.
 "The results for this quarter continue to reflect the pressure on earnings growth which has confronted us for the previous two quarters," said company Chairman and CEO Richard E. Thomas. "We are trying to begin negotiations to place under contract high probability programs totaling more than $200 million. Many of these contracts were originally scheduled to be booked in previous quarters, and while none of them have been lost, delays over which we have no control continue to frustrate us," he said. "While these minor setbacks are disturbing, we remain confident that the course set by management will result in our quickly recovering and once again producing the revenue and profit growth that our shareholders expect," Thomas said.
 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 other specialized uses throughout the world.
 RADIATION SYSTEMS, INC.
 COMPARATIVE HIGHLIGHTS
 (Unaudited)
 (In thousands, except per share amounts and percentages)
 Three Months Ended Nine Months Ended
 March 31, March 31,
 Pct. Pct.
 1993 1992 Change 1993 1992 Change
 Sales $28,398 $31,799 (11) $90,151 $96,980 (7)
 Earnings Before Tax 3,452 4,107 (16) 11,165 12,239 (9)
 Income Taxes 948 1,518 (38) 3,841 4,613 (17)
 Net Earnings 2,504 2,589 (3) 7,324 7,626 (4)
 Earnings per Share $0.30 $0.31 (3) $0.88 $0.91 (3)
 Average and Equivalent
 Shares Outstanding
 During the Period 8,368 8,391 8,365 8,368
 Investment Income
 Net of Interest
 Expense (Pretax) (119) (4) (121) 135
 Operating Margins
 (Pretax) 12.6 pct. 12.9 pct. 12.5 pct. 12.5 pct.
 Effective Tax Rate 27.5 pct. 37.0 pct. 34.4 pct. 37.7 pct.
 Net Earnings as a
 Percent of Sales 8.8 pct. 8.1 pct. 8.1 pct. 7.9 pct.
 -0- 4/26/93
 /CONTACT: Richard E. Thomas, chairman and chief executive officer, 703-450-5680, or Mark D. Funston, chief financial officer, or Douglas Poretz (corporate PR), 703-506-1778, all of Radiation Systems/
 (RADS)


CO: Radiation Systems, Inc. ST: Virginia IN: CPR SU: ERN

DC-IH -- DC037 -- 0927 04/26/93 16:15 EDT
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Date:Apr 26, 1993
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