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SCIENCE ACCESSORIES REPORTS FOURTH QUARTER/YEAR END GAINS

 SCIENCE ACCESSORIES REPORTS FOURTH QUARTER/YEAR END GAINS
 STRATFORD, Conn., Feb. 11 /PRNewswire/ -- Science Accessories


Corporation (NASDAQ: SEAS), which manufactures sonic digitizers, today reported gains in revenues and earnings for the fourth quarter and fiscal year ended Oct. 31, 1991.
 Fourth quarter net income was $88,539 or two cents per share on net sales of $1,085,369 versus a net loss of $131,058 or three cents per share on net sales of $716,525 for same period of the prior year. Fiscal 1991 net income was $8,663 or less than one cent per share on net sales of $3,146,423 compared to a net loss of $437,687 or 11 cents per share on net sales of $2,637,235 for fiscal 1990.
 "These results reflect a positive pretax earnings swing of approximately $650,000, achieved despite a decline in interest income of about $50,000," S.J. Sindeband, chairman and president, said. "We are optimistic about the future, based on the market acceptance of our new product line, growing applications of digitizer technology, an effective cost cutting program that does not impede progress, modest signs of an improved business climate for many of our OEM customers and the maintenance of a strong financial base," he added.
 At year end the company was debt free and highly liquid with cash and cash equivalents of $1,700,000 and working capital totaling $2.8 million. The ratio of current assets to current liabilities was 10.1 to 1 and shareholders' equity was $3.2 million or 77 cents per share.
 "The year ahead will be challenging but we are positioned to benefit from an economic upturn. Our backlog at Dec. 31, 1991 stood at a record level of nearly $3 million," Sindeband concluded.
 SCIENCE ACCESSORIES CORPORATION
 FINANCIAL HIGHLIGHTS
 Period ended Three months Year ended
 Oct. 31 1991 1990 1991 1990
 Net sales $1,085,369 $716,525 $3,146,423 $2,637,235
 Income (loss) before
 income taxes 131,139 (90,658) 3,363 (649,787)
 Income tax provision
 (benefit) 42,600 40,400 (5,300) (212,100)
 Net income (loss) 88,539 (131,058) 8,663 (437,687)
 Income (loss) per share .02 (.03) -- (.11)
 Average shares
 outstanding 4,185,512 4,161,804 4,185,512 4,161,804
 -0- 2/11/92
 /CONTACT: S.J. Sindeband of Science Accessories, 203-386-9978/
 (SEAS) CO: Science Accessories Corporation ST: Connecticut IN: SU: ERN


KD-OS -- NY019 -- 8714 02/11/92 10:27 EST
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Publication:PR Newswire
Date:Feb 11, 1992
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