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TADIRAN'S THIRD THIRD QUARTER INCOME FROM CONTINUING OPERATIONS INCREASED 23 PERCENT TO $6.6 MILLION

 HOLON, Israel, Nov. 18 /PRNewswire/ -- Income from continuing operations for Tadiran Limited (NYSE: TAD) increased 23.2 percent to $6,602,000, or 34 cents per share, for the third quarter of 1993, compared to $5,359,000, or 29 cents per share, for the 1992 third quarter. Net income for the 1993 third quarter decreased 20.2 percent to $6,602,000, or 34 cents per share, from $8,275,000, or 44 cents per share, reported for the 1992 third quarter which included $2,916,000, or 15 cents per share, in extraordinary income from tax benefits.
 Nine-month income from continuing operations increased 24.1 percent, totaling $32,870,000, or $1.68 per share, in 1993 from the $26,479,000, or $1.48 per share, reported for the comparable 1992 period. Weighted average shares outstanding for the period increased to 19,614,000 in 1993 from 17,943,000 in 1992, reflecting the company's August 1992 initial public offering.
 On a pre-tax basis, Tadiran earned $11,817,000 during this year's third quarter, vs. $9,434,000 in the comparable 1992 period, an increase of 25.3 percent. For the 1993 nine-month period, pre-tax income increased 22.5 percent to $49,191,000, from $40,164,000 for the 1992 period.
 Sales for 1993's third quarter decreased 2.7 percent, to $174,680,000 from $179,553,000 in 1992. Through nine months of 1993, sales increased 1.6 percent to $581,649,000, compared to $572,396,000 in 1992.
 For the first nine months of 1993 net income amounted to $45,070,000, or $2.30 per share, including income of $12,200,000, or 62 cents per share, from a one-time tax benefit due to the required adoption of the FASB 109 accounting standard. For the comparable 1992 period, net income of $47,354,000, or $2.64 per share, included income from discontinued operations and extraordinary income aggregating $20,875,000, or $1.16 per share.
 Commenting on the company's performance, Gurion Meltzer, Tadiran's president and chief executive officer, said: "Tadiran's results for the first nine months of 1993 reflect the company's success in achieving increased production efficiencies and an improved sales mix. They indicate steady, solid growth in line with expectations, despite expanded investments in research and development."
 Mr. Meltzer pointed out that Tadiran has dedicated significant additional resources to its global marketing efforts, and that increased export sales have offset reduced purchases of digital telecommunications equipment by BEZEQ, Israel's national telephone company. Additionally, the company has realized a significant increase in revenues from the SINCGARS project, the new tactical communications device of the U.S. Army. He also noted the recently completed public offerings in Israel of two of Tadiran's wholly owned computer software subsidiaries, which resulted in a capital gain of $11.6 million, or 60 cents per share, and will be reflected in Tadiran's fourth-quarter results.
 Mr. Meltzer also indicated that shareholder's equity increased 43.6 percent between Sept. 30, 1992 and 1993, from $120.2 million to $172.6 million. It currently comprises 26.5 percent of total liabilities and shareholders' equity, compared with 19.3 percent a year ago.
 Tadiran designs, develops, manufactures and markets a wide range of sophisticated telecommunications equipment, defense electronic systems and computer software products, which are sold to customers in more than 50 countries. In addition, Tadiran is one of the largest manufacturers of air conditioners and refrigerators in Israel, and is a leading manufacturer of lithium thionyl chloride batteries. Tadiran Electronic Industries, Inc., is a U.S. subsidiary of Tadiran Limited.
 TADIRAN LIMITED
 Financial Highlights
 Summary of Results of Operations
 (Dollars in Thousands Except Amounts Per Share)
 For the periods Third Quarter Nine Months
 ended Sept. 30, 1993 1992 1993 1992
 Sales and Revenues $174,680 $179,553 $581,649 $572,396
 Gross profit 45,692 40,128 162,152 146,796
 Operating income 14,207 11,344 57,739 48,079
 Pre-tax income 11,817 9,434 49,191 40,164
 Income From Continuing
 Operations 6,602 5,359 32,870 26,479
 Income from discontinued
 operations -- -- -- 6,675
 Extraordinary income -- 2,916 -- 14,200
 Cumulative effect of
 change in accounting
 principle -- -- 12,200 --
 Net Income $6,602 $8,275 $45,070 $47,354
 Earnings per share
 Continuing operations $0.34 $0.29 $1.68 $1.48
 Discontinued operations -- -- -- 0.37
 Extraordinary income -- 0.15 -- 0.79
 Cumulative effect of
 change in accounting
 principle -- -- 0.62 --
 Total $0.34 $0.44 $2.30 $2.64
 Weighted Average
 Shares Outstanding 19,614,000 18,629,000 19,614,000 17,943,000
 -0- 11/18/93
 /CONTACT: Stuart Pearlman of Stuart Pearlman & Co., Inc. 212-370-4940/
 (TAD)


CO: Tadiran Limited ST: IN: TLS SU: ERN

LG-TW -- NY025 -- 5936 11/18/93 10:23 EST
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Date:Nov 18, 1993
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