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SPECIAL DEVICES INC. ANNOUNCES THIRD QUARTER 1992 EARNINGS

 NEWHALL, Calif., Jan. 5 /PRNewswire/ -- Special Devices Inc. (NASDAQ: SDII) today announced the results of operations for its fourth quarter and fiscal year ended Oct. 31, 1992.
 Net sales for the three and 12 months ended Oct. 31, 1992, were $8,849,000 and $30,138,000 as compared to $6,890,000 and $24,160,000 for the same periods in 1991. Net sales for the three- and 12-month periods of 1992 increased 28 percent and 25 percent, respectively, from the same periods in 1991. These increases are due to growth in the company's Automotive Products division primarily from the implementation of shipments in January 1992 under its multiyear supply agreement with TRW and increased revenue from supplying prototype initiators to various customers. As a result, the Automotive Products division posted revenue increases for the three and 12 months ended Oct. 31, 1992, of 56 percent and 133 percent, respectively.
 Net income for the three and 12 months ended Oct. 31, 1992, was $443,000, or $0.08 per share, and $1,419,000, or $0.25 per share, as compared to net income, after proforma income tax adjustment of $491,000, or $0.09 per share and $1,336,000, or $0.30 per share, for the comparable 1991 periods. The decrease in earnings per share for the 12-month period is due to the greater number of shares of common stock outstanding during the 1992 period as a result of the public offering completed in August 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 Twelve Months Ended
 Oct. 31, Oct. 31,
 1992 1991 1992 1991
 Net sales:
 Aerospace $5,143 4,510 17,513 18,729
 Automotive 3,706 2,380 12,625 5,431
 Total $8,849 6,890 30,138 24,160
 Gross profit:
 Aerospace $1,527 1,615 5,178 5,667
 Automotive (76) (44) 61 (836)
 Total $1,451 1,571 5,239 4,831
 Operating income:
 Aerospace $1,167 1,116 3,814 4,107
 Automotive (423) (345) (1,446) (1,822)
 Total $744 771 2,368 2,285
 Net income
 after proforma
 income tax
 adjustment $443 491 1,419 1,336
 Net income per
 share after
 proforma
 income tax
 adjustment $.08 .09 .25 .30
 Weighted
 average
 common
 shares
 outstanding 5,759 5,587 5,759 4,528
 -0- 1/5/93
 /CONTACT: Robert W. Benson, CFO of Special Devices, 805-259-0753/
 (SDII)


CO: Special Devices Inc. ST: California IN: ARO SU: ERN

KJ-JB -- LA009 -- 1546 01/05/93 08:31 EST
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Date:Jan 5, 1993
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