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SECOM GENERAL CORPORATION REPORTS HIGHER SALES AND EARNINGS FOR THIRD FISCAL QUARTER ENDED JUNE 30, 1993

 LIVONIA, Mich., July 22 /PRNewswire/ -- Secom General Corporation (NASDAQ-NMS: SECM) today reported sales of $9.52 million and after-tax net income of $130,600, or 5 cents per share, for its third fiscal quarter ended June 30, 1993, compared to sales of $8.22 million and after-tax net income of $102,100, or 3 cents per share, for the same quarter last year.
 For the nine months ended June 30, 1993, Secom reported sales of $27.29 million and an after-tax net loss of $141,800, or 5 cents per share, compared to sales of $25.30 million and net income of $1.16 million, or 42 cents per share, which included $379,100, or 14 cents per share, from a cumulative effect of an accounting change, for the same period last year.
 "The company's top priority is to resolve its severe working capital situation which is largely the result of losses for the quarters ended Sept. 30 and Dec. 31, 1992, and the aggressive capital equipment expansion program in 1992," said David J. Marczak, Secom's secretary/ treasurer.
 He said the company was pursuing private debt and equity placements to resolve the working capital problem.
 Secom's continuing operations consist of six subsidiaries that operate in three lines of basic manufacturing: metal parts forming, toolmaking and plastic molded products, serving principally the automotive, trucking, consumer and construction industries.
 SECOM GENERAL CORPORATION
 (UNAUDITED)
 Third Quarter Ended Nine Months Ended
 06/30/93 06/30/92 06/30/93 06/30/92
 Net sales $9,516,200 $8,219,400 $27,286,100 $25,300,700
 Income (loss) before
 provision for
 income taxes 253,100 166,100 (159,600) 1,155,300
 Provision (credit)
 for income taxes 122,500 64,000 (17,800) 376,000
 Income (loss) before
 cumulative effect of
 accounting change 130,600 102,100 (141,800) 779,300
 Cumulative effect of
 change in method of
 accounting for
 income taxes N/A N/A N/A 379,100
 Net income (loss) $130,600 $102,100 ($141,800) $1,158,400
 Earnings per share (a):
 Earnings (loss) before
 cumulative effect of
 accounting change $0.05 $0.03 ($0.05) $0.28
 Cumulative effect of
 accounting change N/A N/A N/A $0.14
 Net income (loss)
 per share $0.05 $0.03 ($0.05) $0.42
 Weighted average shares
 outstanding 2,875,200 2,835,400 2,857,400 2,725,500
 (a) All earnings-per-share data have been restated to reflect the 10-percent stock dividend declared March 9, 1992.
 -0- 7/22/93
 /CONTACT: David Marczak, Secom's secretary/treasurer, 313-953-3990; or Alex Tassos & Associates, financial public relations, 619-748-0787, for Secom General/
 (SECM)


CO: Secom General Corporation ST: Michigan IN: SU: ERN

KE-JB -- DE015 -- 4520 07/22/93 12:06 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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