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TERMIFLEX REPORTS OPERATING RESULTS FOR THE FIRST QUARTER

 TERMIFLEX REPORTS OPERATING RESULTS FOR THE FIRST QUARTER
 MERRIMACK, N.H., Oct. 19 /PRNewswire/ -- Termiflex Corporation (NASDAQ: TFLX) today reported operating results for the first quarter ended Sept. 30, 1992. Sales were $1,338,644 compared to $1,819,565 for the same period a year ago, resulting in a loss of $(69,338) or (5 cents) per share, compared to a profit of $121,753 or 9 cents per share last year.
 "The disappointing first quarter sales and resultant loss are due to several factors, including delays in forecasted international orders," according to Bill Fletcher, president. "Slippages of initial production shipments of custom products to new customers and the continued slowdown of domestic Original Equipment Manufacturer (OEM) orders have also contributed to this shortfall. In addition, all of our customers are shortening lead times and reducing inventory levels in response to worldwide economic conditions.
 "Although we expect a return to profitability within the fiscal year, we expect only moderate quarter-to-quarter revenue increases so long as the domestic and international slowdown in the manufacturing industries continues," added Fletcher. "Termiflex has received several significant orders from new accounts which will begin shipping in the next two quarters. We expect the level of international business to recover in the second half of our fiscal year. The focus on our core business and on reducing costs is continuing and we are also vigorously pursuing new business opportunities."
 Termiflex Corporation 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 1993
 CONSOLIDATED BALANCE SHEETS
 9/30/92 6/30/92
 (Unaudited) (Audited)
 ASSETS:
 Cash and cash equivalents $1,660,936 $2,559,932
 Accounts receivable 1,657,275 1,674,106
 Inventories 1,553,803 1,284,166
 Other current assets 127,178 125,344
 Fixed assets 2,425,391 2,440,358
 Total assets $7,424,583 $8,083,906
 LIABILITIES AND STOCKHOLDERS' EQUITY:
 Current liabilities $617,373 $1,001,579
 Deferred income taxes 541,969 609,585
 Long-term debt 885,999 1,009,096
 Stockholders' equity 5,379,242 5,463,646
 Total liabilities and
 stockholders equity $7,424,583 $8,083,906
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three months ended
 9/30/92 9/30/91
 Net sales $1,338,644 $1,819,565
 Cost of sales 685,011 917,296
 Gross profit 653,633 902,269
 Expenses 750,971 720,516
 Earnings (loss) before
 income taxes (97,338) 181,753
 Income tax expense
 (benefit) (28,000) 60,000
 Net earnings (loss) (69,338) $121,753
 Net earnings loss
 per share (5 cents) 9 cents
 Common shares
 outstanding 1,343,165 1,326,246
 -0- 10/19/92
 /CONTACT: Judith Spaulding of Termiflex, 603-424-3700/
 (TFLX) CO: Termiflex Corporation ST: New Hampshire IN: CPR SU: ERN


DH -- NE007 -- 1363 10/19/92 08:44 EDT
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Date:Oct 19, 1992
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