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SHELDAHL PROFITS UP FOR THE QUARTER AND NINE MONTHS

 NORTHFIELD, Minn., June 23 /PRNewswire/ -- Sheldahl, Inc. (NASDAQ: SHEL) said today that its fiscal 1993 third quarter net profit increased 18 percent over that of the previous year, despite lower-than- anticipated revenues. Net income rose to $457,000, up from $387,000 in the third quarter of 1992, on sales of $20.4 million, compared to $21.4 million a year ago.
 Fiscal 1993 nine-month results also showed solid bottom-line improvement. Net income at $909,000 and EPS of $.18 were more than double the $441,000 and $.09 reported for the same period a year ago. Revenues for the period were $61.4 million, compared to $62.8 million in 1992.
 James E. Donaghy, Sheldahl's president and chief executive officer, said, "Revenue for the quarter was below plan due to the delay of several customer programs in the datacommunications sector. We are pleased to report that sales in the automotive sector continue on target, and we expect another year of over 30 percent annual sales growth in that market. In addition, our stringent cost control measures paid off handsomely during the period in increased profitability."
 Donaghy continued, "We anticipate that fourth quarter revenues will be at the same level as the third quarter, and that net profit will be slightly higher. Overall, we are confident our business strategy of focusing our resources on two high-growth markets and on products to satisfy unmet customer needs in those markets, will generate significant rewards for the company and its shareholders over the next two to three years." Concluded Donaghy, "Sheldahl's new proprietary products are enjoying increasing acceptance in the marketplace and we expect to report the acquisition of several sizable new contracts in the near future."
 Sheldahl is the leading producer of flexible interconnects in the United States. The company's core technology involves the conversion of basic materials into technical laminates that are sold as foils and tapes. The company also uses these laminates as the base for such products as antennas, electronic shielding, insulation, flexible interconnects and specialized fabrications. Sheldahl has strategically located design and technical centers in the Western, Midwestern and Eastern regions of the United States, and in Great Britain, as well as an administrative/sales office in France.
 SHELDAHL, INC. AND SUBSIDIARY
 Consolidated Statements of Operations
 (In thousands except per share data)
 (Unaudited)
 Three Months Ended
 5/28/93 5/29/92
 Net sales $20,444 $21,417
 Cost of sales 16,538 17,018
 Gross profit 3,906 4,399
 Expenses:
 Sales and marketing 1,785 2,013
 General and administrative 933 1,041
 Research and development 472 626
 Interest 259 332
 Total expenses 3,449 4,012
 Income before provision
 for income taxes 457 387
 Provision for income taxes -- --
 Net income $457 $387
 Net income per share $.09 $.08
 Dividends declared and paid per share none none
 SHELDAHL, INC. AND SUBSIDIARY
 Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)
 Nine Months Ended
 5/28/93 5/29/92
 Net sales $61,373 $62,838
 Cost of sales 49,971 51,210
 Gross profit 11,402 11,628
 Expenses:
 Sales and marketing 5,369 5,543
 General and administrative 2,851 2,981
 Research and development 1,481 1,583
 Interest 792 1,080
 Total expenses 10,493 11,187
 Income before provision
 for income taxes 909 441
 Provision for income taxes -- --
 Net income $909 $441
 Net income per share $.18 $.09
 Dividends declared and paid per share none none
 SHELDAHL, INC. AND SUBSIDIARY
 Consolidated Balance Sheets
 (In thousands)
 (Unaudited)
 ASSETS 5/28/93 8/28/92
 Current assets:
 Cash $501 $498
 Accounts receivable, net 11,287 11,006
 Inventories 9,810 10,038
 Prepaid expenses and
 other current assets 546 239
 Net assets of discontinued operations 713 753
 Total current assets 22,857 22,534
 Plant and equipment, at cost 51,861 49,920
 Accumulated depreciation 33,295 30,543
 Net plant and equipment 18,566 19,377
 Other assets 446 514
 -- $41,869 $42,425
 LIABILITIES AND SHAREHOLDERS' INVESTMENT
 Current liabilities:
 Current maturities of long-term debt $7,545 $1,225
 Accounts payable 5,846 5,359
 Accrued salaries 1,347 1,524
 Other accrued liabilities 1,964 2,723
 Current liabilities of
 discontinued operations 764 995
 Total current liabilities 17,466 11,826
 Long-term debt 3,300 9,960
 Other non-current liabilities 2,204 2,702
 Shareholders' investment:
 Common stock 1,196 1,193
 Additional paid-in capital 7,248 7,198
 Retained earnings 10,455 9,546
 Total shareholders' investment 18,899 17,937
 -- 41,869 42,425
 -0- 6/23/93
 /CONTACT: John McManus, V.P. Finance of Sheldahl, 507-663-8000; or Elin Schomaker of The Sage Group, 612-872-8418, for Sheldahl/
 (SHEL)


CO: Sheldahl, Inc. ST: Minnesota IN: AUT SU: ERN

DB -- MN008 -- 5110 06/23/93 15:31 EDT
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Date:Jun 23, 1993
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