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SI HANDLING SYSTEMS REPORTS FIRST QUARTER FISCAL 1993 PROFIT

 SI HANDLING SYSTEMS REPORTS FIRST QUARTER FISCAL 1993 PROFIT
 EASTON, Pa., July 15 /PRNewswire/ -- SI Handling Systems, Inc. (NASDAQ-NMS: SIHS) today announced its continued profitability during the first quarter ended May 31, 1992, as follows:
 Three months ended May 31, 1992 June 2, 1991
 Sales $7,476,000 $4,428,000
 Earnings before income taxes 404,000 121,000
 Income taxes 113,000 ---
 Net earnings 291,000 121,000
 Earnings per share $.18 $.07(A)
 Dividends per share .10 ---
 (A) Restated to reflect the 10 percent stock dividend issued on Nov. 4, 1991.
 On March 31, 1992, the company concluded the acquisition of BT Systems, Inc., a U.S. corporation, from its Swedish parent company, BT Systems AB. BT Systems, Inc., renamed as SI Systems, Inc. and operating as a wholly owned subsidiary of SI Handling, is North America's largest supplier of Automated Guided Vehicle Systems (AGVS). First quarter results for the current fiscal year include the operations of SI Systems, Inc. Sales rose 69 percent reflecting a 12 percent increase in the sale of SI Handling's products plus the contribution of sales of SI Systems in the first quarter of fiscal 1993.
 During fiscal 1993, the company also lists the following highlights:
 -- The board of directors of the company declared on May 6, 1992, a 10-cent cash dividend which was paid on June 1, 1992, to stockholders of record on May 18. This was the first cash dividend since the company suspended cash dividends in 1987.
 -- On June 16, 1992, the company's common stock began trading in the NASDAQ National Market. This entry will provide increased market visibility for the company's common stock as well as gaining the advantage of multiple market makers competing to offer the best bid and asked prices.
 -- SI Handling was the recipient of a $4.5 million contract from the Walgreen Corporation for a Dispen-SI-matic System for its Orlando, Fla., distribution operation. The purchase of this system will assist Walgreen's entry into the rapidly growing mail order pharmaceutical business. This order clearly establishes SI as the leading company in the supply of automated equipment to this market.
 /delval/
 -0- 7/15/92
 /CONTACT: Leonard S. Yurkovic, president and CEO of SI Handling Systems, 215-252-7321/
 (SIHS) CO: SI Handling Systems, Inc. ST: Pennsylvania IN: SU: ERN


MK-MJ -- PH005 -- 9486 07/15/92 11:03 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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