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TE ELECTRONICS INC. ANNOUNCES SALE OF MICRONIC OPERATION AND ADDITIONAL CHARGE TO DECEMBER 31, 1992 RESULTS

 FORT WORTH, Texas, March 26 /PRNewswire/ -- TE Electronics Inc. ("TE"), the Tandy Corporation (NYSE: TAN) proposed spin-off subsidiary, today announced the signing of a non-binding letter of intent to sell TE's Micronic hand-held computer operation. Closing of the transaction is subject to the approval of governmental authorities and the signing of a definitive agreement. In addition, TE Electronics Inc. announced that it was adjusting the goodwill associated therewith in the amount of $20 million in recognition of this pending sale and the recent management decision to close two of Tandy/GRiD-Europe's smaller European offices. This additional charge will be included in the results for the six months ended Dec. 31, 1992.
 The pending sale will delay the filing of Tandy Corporation's Form 10-K and other SEC filings and release of results for the six months ended Dec. 31, 1992. These filings and release are now expected to be April 7, 1993.
 -0- 3/26/93
 /CONTACT: Philip M. Bradtmiller, vice president, treasurer of TE Electronics Inc., 817-390-3731/
 (TAN)


CO: TE Electronics Inc. ST: Texas IN: CPR SU: TNM

PS -- NY014 -- 9978 03/26/93 09:48 EST
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Publication:PR Newswire
Date:Mar 26, 1993
Words:187
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