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TADIRAN FIRST QUARTER INCOME FROM CONTINUING OPERATIONS ROSE 6.5 PERCENT

 HOLON, Israel, May 20 /PRNewswire/ -- Tadiran Limited (NYSE: TAD) today reported a 6.5 percent increase in first-quarter income from continuing operations to $15,731,000, from $14,776,000 in the same period in 1992. Earnings per share from continuing operations were 80 cents, compared with 84 cents per share in 1992's first period, as average shares outstanding increased from 17,600,000 to 19,614,000 resulting from the company's initial public offering last August. Sales for the quarter were $220,519,000, about even with $220,913,000 in the first quarter of 1992.
 On a pre-tax basis, Tadiran earned $22,684,000 in the 1993 first quarter, compared with $20,087,000 in the 1992 first quarter, an increase of 12.9 percent. Net income for the 1993 first quarter aggregated $27,931,000, or $1.42 per share, which included income of $12,200,000, or $0.62 per share, from a one-time tax benefit due to the required adoption of a new accounting principle (FASB 109). For the first three months of 1992, net income of $30,655,000, or $1.74 per share, included income from discontinued operations and extraordinary income totalling $15,879,000, or $0.90 per share.
 In commenting on the company's performance during 1993's first quarter, Gurion Meltzer, Tadiran's president and chief executive officer, said, "The company's results were solid and in line with or somewhat better than expectations, as we continue to benefit from the strength of Tadiran's overall product line as well as increased production efficiencies and cost reductions."
 "We also continue to concentrate our efforts on converting our military technologies to successful commercial applications," Meltzer said. He indicated that, besides the earnings benefits derived from the first quarter's 8.7 percent increase in gross profit and a decrease in net financing expenses, the company has been able to expand research and development investments and its worldwide marketing efforts.
 Meltzer also referred to the company's improved financial position, noting that shareholders' equity doubled between March 31, 1992, and March 31, 1993, from $79 million to $158 million, and currently comprises 24 percent of total liabilities and shareholders' equity.
 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
 Summary of Results of Operations
 (Dollars in Thousands Except Amounts Per Share)
 Quarter ended March 31 1993 1992
 SALES AND REVENUES $220,519 $220,913
 Gross profit 63,711 58,599
 Operating income 24,568 23,543
 Pre-tax income 22,684 20,087
 INCOME FROM CONTINUING OPERATIONS 15,731 14,776
 Income from discontinued operations --- 6,675
 Extraordinary income --- 9,204
 Cumulative effect of change in
 accounting principle 12,200 ---
 NET INCOME 27,931 30,655
 EARNINGS PER SHARE:
 Continuing operations $0.80 $0.84
 Discontinued operations --- 0.38
 Extraordinary income --- 0.52
 Cumulative effect of change in
 accounting principle .62 ---
 Total 1.42 1.74
 WEIGHTED AVERAGE SHARES OUTSTANDING 19,614,000 17,600,000
 -0- 5/20/93
 /CONTACT: Stuart Pearlman of Stuart Pearlman & Co., Inc., 212-370-4940, for Tadiran Limited/
 (TAD)


CO: Tadiran Limited ST: New York IN: CPR SU: ERN

MK-LJ -- PH006 -- 0657 05/20/93 10:06 EDT
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Date:May 20, 1993
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