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THE ALPINE GROUP ANNOUNCES FISCAL 1992 RESULTS

 THE ALPINE GROUP ANNOUNCES FISCAL 1992 RESULTS
 NEW YORK, July 31 /PRNewswire/ -- The Alpine Group, Inc. (AMEX: AGI)


today reported financial results for the fourth quarter and fiscal year ended April 30, 1992.
 For the quarter ended April 30, 1992, the company reported a net loss of $3,075,000, or $0.44 per share, compared with net income of $1,523,000, or $0.25 per share, for the quarter ended April 30, 1991. The fourth quarter loss from continuing operations of $3,309,000, or $0.48 per share, compares to a loss from continuing operations of $2,574,000, or $0.43 per share, in the comparable quarter last year. Revenues for the fourth quarter increased to $6,036,000 from $1,149,000 in the prior year's quarter due to the acquisition of Dataproducts New England, Inc. in February 1992. The number of shares outstanding at April 30, 1992 was 8,400,198.
 For the year ended April 30, 1992, the net loss was $7,985,000, or $1.08 per share, compared with a net loss of $1,986,000, or $0.35 per share, for the prior year. Revenues increased 62 percent to $10,293,000 in fiscal 1992 from $6,347,000 in fiscal 1991 as a result of the Dataproducts New England acquisition. The fiscal 1992 loss from continuing operations of $8,873,000, or $1.20 per share, compares to a loss from continuing operations of $6,051,000, or $1.04 per share, in the prior year. The fiscal 1992 loss includes $3,113,000 in non-cash charges relating to the accretion of bond discount, provision for stock options, depreciation and amortization of deferred financing charges. The prior year results included income from discontinued operations of $2,642,000, or $0.45 per share. The average number of shares of common stock outstanding during the year ended April 30, 1992 was 7,415,827 compared to 5,896,592 for the year ended April 30, 1991.
 Steven S. Elbaum, chairman and chief executive officer of Alpine, stated, "During fiscal 1992, Alpine successfully accomplished our goals of achieving increased liquidity, improving our balance sheet and making substantial progress towards commercialization of our PolyVision flat panel display technology through advanced development and preproduction for low information content displays. In addition, the strategic acquisition of Dataproducts New England significantly increased the company's operations, assets and anticipated operating cash flows."
 During fiscal 1992, the company retired approximately $11 million or 47 percent of the face amount of long-term debt outstanding at April 30, 1991. In addition, the company generated approximately $11 million in cash through realization on long term investments and private placements of equity. Total assets increased from $25 million to $37 million and stockholders' equity increased from $247,000 to $5.9 million.
 Elbaum stated that future operating results will continue to be impacted by disproportionately high interest expense and increased spending for PolyVision-related research, development and expected production start-up in fiscal 1993. He said, "The company's financial emphasis will be on operating and cash flow improvements, while at the same time advancing our PolyVision flat panel display technology through the commercialization process. The company's strategy emphasizes long- term growth in value of our assets and operations rather than current earnings until PolyVision displays achieve volume production levels."
 Elbaum further stated, "Alpine's Defense Electronics segment, conducted through Dataproducts New England, Inc., achieved excellent results during the fourth quarter in terms of profitability, cash flow and bookings. These results have continued into the first quarter of fiscal 1993 as Dataproducts has achieved a record $16 million in bookings for the first quarter, with virtually zero utilization of its $3.5 million line of credit and solid revenue growth. In addition, we successfully consolidated Audio Visual Laboratories, Inc., our multi- imaging subsidiary, into Dataproducts' Wallingford, Connecticut facility and integrated it into Dataproducts' operations."
 The Alpine Group, Inc. is a holding company with continuing operations in information display and defense electronics and datacommunications businesses. Through its Alpine PolyVision, Inc. subsidiary, Alpine is developing PolyVision, a proprietary flat panel display technology, for commercial applications in a wide variety of markets. A recently acquired subsidiary, Dataproducts New England, Inc., specializes in the advanced design, development, engineering and manufacture of electronic and avionic components and systems. Alpine's information display activities also include Posterloid Corporation, which manufactures and markets menuboard display systems to fast food and convenience store markets.
 THE ALPINE GROUP, INC.
 (Dollars in thousands, except per share)
 Periods ended Twelve months Three months
 April 30 1992 1991 1992 1991
 Net sales from continuing
 operations $10,293 $ 6,347 $ 6,036 $ 1,419
 (Loss) from continuing
 operations (8,873) (6,051) (3,309) (2,574)
 Income from discontinued
 operations -- 2,642 -- 2,674
 Extraordinary item:
 Net gain on extinguishment
 of debt 888 1,432 234 1,423
 Net income (loss) ($7,985) ($1,986) ($3,075) $ 1,523
 Earnings (loss) per share of
 common stock:
 Continuing operations ($ 1.20) ($ 1.04) ($ 0.48) ($ 0.43)
 Discontinued operations -- 0.45 -- 0.45
 (Loss) before extraordinary
 items (0.20) (0.59) (0.48) 0.02
 Extraordinary item:
 Gain on extinguishment
 of debt 0.12 0.24 0.04 0.23
 Net income (loss)
 per share ($ 1.08) ($ 0.35) ($ 0.44) $ 0.25
 Summary Balance Sheet
 April 30 1992 1991
 Current Assets $20,143 $11,108
 Total Assets $36,707 $24,658
 Current Liabilities $10,976 $ 5,661
 Long-term Debt $19,396 $18,275
 Stockholders' Equity $ 5,867 $ 247
 -0- 7/31/92
 /CONTACT: June Filingeri or Bernie Kilkelly of Morgen-Walke Associates, 212-986-5900, for The Alpine Group/
 (AGI) CO: Alpine Group Inc. ST: New York IN: CPR SU: ERN


TS -- NY016 -- 5474 07/31/92 09:51 EDT
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