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SPECIAL DEVICES INC. ANNOUNCES THIRD QUARTER 1992 EARNINGS

 SPECIAL DEVICES INC. ANNOUNCES THIRD QUARTER 1992 EARNINGS
 NEWHALL, Calif., Sept. 9 /PRNewswire/ -- Special Devices Inc. (NASDAQ: SDII) announced the results of operations for its third quarter ended July 26, 1992.
 Net sales for the three and nine months ended July 26, 1992 were $7,771,000 and $21,289,000 as compared to $5,331,000 and $17,270,000 for the same periods in 1991. Net sales for the three and nine months ended July 28, 1991 included approximately $727,000 and $3,439,000 of Aerospace Division shipments that were delayed from 1990 which increased revenues in the 1991 periods. Net sales, after adjusting for the delayed shipments into the 1991 periods, increased for the three- and nine-month periods of 1992. This is primarily because of an increase in Automotive Products Division shipment volumes and the timing of Aerospace Division shipments during 1992 as compared to 1991.
 Net income for the three and nine months ended July 26, 1992 was $498,000, or $0.09 per share, and $983,000, or $0.17 per share, as compared to net income, after proforma income tax adjustment, of $245,000, or $0.06 per share, and $845,000, or $0.20 per share, for the comparable 1991 periods. The decrease in earnings per share for the nine-month period is because of the greater number of shares of common stock outstanding during the 1992 periods as a result of the public offering in August 1991 and the impact of additional gross margin and net profit realized on the Aerospace Division shipments delayed from 1990 into 1991.
 The company is a leader in the design and manufacture of highly reliable pyrotechnic devices used by the aerospace industry, primarily in tactical missile systems and by the automotive industry as initiators in airbag systems.
 SPECIAL DEVICES INC.
 Summary Financial Information
 (In thousands, except for per share data)
 Three Months Ended Nine Months Ended
 July 26, July 28, July 26, July 28,
 1992 1991 1992 1991
 Net sales:
 Aerospace $4,000 4,224 12,370 14,219
 Automotive 3,771 1,107 8,919 3,051
 Total $7,771 5,331 21,289 17,270
 Gross profit:
 Aerospace $1,457 1,177 3,651 4,052
 Automotive 68 (165) 137 (792)
 Total $1,525 1,012 3,788 3,260
 Operating income:
 Aerospace $1,119 871 2,648 2,901
 Automotive (296) (439) (1,024) (1,477)
 Total $823 432 1,624 1,514
 Net income after
 proforma income
 tax adjustment $498 245 983 845
 Net income
 per share
 after proforma
 income tax adjustment $0.09 0.06 0.17 0.20
 Weighted average
 common shares
 outstanding 5,759 4,155 5,759 4,155
 -0- 9/9/92
 /CONTACT: Robert W. Benson, VP-finance and CFO of Special Devices, 805-259-0753 or 818-365-3171/
 (SDII) CO: Special Devices Inc. ST: California IN: ARO AUT SU: ERN


BP-EH -- LA011 -- 7347 09/09/92 08:31 EDT
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Date:Sep 9, 1992
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