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TERMIFLEX REPORTS OPERATING RESULTS FOR THE FIRST QUARTER ENDED SEPT. 30, 1993

 MERRIMACK, N.H., Oct. 18 /PRNewswire/ -- Termiflex Corporation (NASDAQ: TFLX) today reported operating results for the first quarter ended Sept. 30, 1993. Sales for the quarter were $2,030,058, compared to $1,338,644 for the same period a year ago, resulting in a loss of $(26,784) or (2 cents per share), compared to a loss of $(69,338) or (5 cents) per share last year.
 "The improved revenue level is a result of continued strengthening of our international shipments, a moderate improvement in our overall domestic business, and initial shipments to two large domestic customers," according to Termiflex president, Bill Fletcher. "Revenues are expected to continue at about the level just announced, but we expect to report profits in future periods as a result of expense control measures that are now fully in effect."
 Termiflex Corporation, an ISO 9001 certified company, designs, manufactures and sells rugged, handheld and panel-mounted terminals used as operator control panels, service units and data acquisition devices with microprocessor-based commercial, industrial and military equipment.
 Termiflex Corporation
 First Quarter Report
 Fiscal Year 1994
 Consolidated Balance Sheets
 Sept. 30, 1993 June 30, 1993
 (unaudited) (audited)
 ASSETS
 Cash and cash equivalents $766,928 $1,011,298
 Accounts receivable 1,838,804 1,491,773
 Inventories 1,766,196 1,859,854
 Other current assets 404,513 400,369
 Fixed assets 2,394,189 2,468,415
 Total assets $7,170,630 $7,231,709
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $929,431 $836,554
 Deferred income taxes 564,707 571,773
 Long-term debt 703,637 816,809
 Stockholders' equity 4,972,855 5,006,573
 Total liabilities and stockholders'
 equity $7,170,630 $7,231,709
 CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
 Three Months Ended
 Sept. 30
 1993 1992
 Net sales $2,030,058 $1,338,644
 Cost of sales 1,101,610 685,011
 Gross profit 928,448 653,633
 Expenses 969,232 750,971
 Loss before income taxes (40,784) (97,338)
 Income tax benefit (14,000) (28,000)
 Net loss $(26,784) $(69,338)
 Net loss per share (2 cents) (5 cents)
 Common shares outstanding 1,341,122 1,343,165
 The company's quarterly financial report on Form 10-Q is available to any stockholder upon request.
 -0- 10/18/93
 /CONTACT: Judith Spaulding of Termiflex, 603-424-3700/
 (TFLX)


CO: Termiflex Corporation ST: New Hampshire IN: CPR SU: ERN

CM-DD -- NE007 -- 3172 10/18/93 08:29 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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