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THE PEAK TECHNOLOGIES GROUP, INC., ANNOUNCES RECORD SALES AND EARNINGS FOR THREE AND NINE MONTHS PERIODS

 NEW YORK, Oct. 29 /PRNewswire/ -- The Peak Technologies Group, Inc. (NASDAQ: PEAK), today announced sales of $25.6 million for the three month period ended Sept. 30, 1993, vs. $22 million last year. Net income increased 17 percent to $790,000 from $673,000 last year, or $0.15 per share vs. $0.16 per share on an additional 1.2 million shares outstanding. For the nine month period, Peak recorded sales of $68.9 million, a 14 percent increase over $60.7 million last year. Net income for the same time period was up 28 percent to $1.2 million vs. $947,000 last year, or $0.23 per share vs. $0.29 per share with 2.1 million additional shares outstanding this year.
 Commenting on these results, Nicholas H. Toms, chairman and CEO, stated: "Our industrial bar coding business continued to show strong increases during the most recent quarter. Sales of key suppliers, NORAND, Zebra, Welch-Allyn and United Bar Code Industries, have registered strong increases for both the three month and nine month periods. Additionally, proprietary Peak software products, although moving from a small base, have experienced dramatic increases year to year, while the consumables run rate nearly doubled during the same period. Our service business is expanding in concert with our national presence this year and becoming more a sustaining part of the business. The modest upturn in our Telpar business, which we saw in the second quarter, has been sustained.
 "During the quarter, we successfully integrated our Concord Technologies acquisition, a New England-based regional value added distributor and integrator of bar code systems and equipment. This company focuses on higher margin wireless applications. Additionally, we signed an exclusive agreement with Zebra Technologies Corporation to become a national sales and service center for the leading manufacturer of thermal transfer bar code label printers. Peak now derives more than 55 percent of its revenues from the multi-billion dollar industrial bar coding market estimated to be growing at 15 percent to 20 percent annually.
 "Finally, this month Peak retired the $8 million of bank debt remaining principally from its pre-IPO period with a new $15 million long term facility from Corestates Bank, N.A. Early retirement of this debt will result in a non-cash extraordinary charge to fourth quarter earnings of approximately $200,000. This charge will be recaptured over the next six to nine months in reduced interest costs and related finance charges."
 The Peak Technologies Group, Inc., is a full service value added distributor and systems integrator of bar code based data collection systems; mass storage systems; information systems printing equipment; and related supplies. Peak markets the products of more than 50 manufacturers.
 THE PEAK TECHNOLOGIES GROUP, INC., AND SUBSIDIARIES
 Summary Financial Information
 (Dollars in Thousands, Except Per Share Amounts)
 (Unaudited)
 Three Months Ended Sept. 30,
 1993 1992
 Sales: $25,568 $21,976
 Gross Profit 7,879 6,696
 Selling, general, engineering
 and administrative expenses 5,731 4,682
 Income before income taxes 1,408 1,187
 Net income $790 $673
 Primary and fully diluted
 earnings per common share $0.15 $0.16
 Weighted average shares
 outstanding 5,464 4,319
 Nine Months Ended Sept. 30,
 1993 1992
 Sales: $68,879 $60,685
 Gross Profit 20,771 17,992
 Selling, general, engineering
 and administrative expenses 16,393 13,195
 Income before income taxes 2,277 1,815
 Net income $1,210 $947
 Primary and fully diluted
 earnings per common share $0.23 $0.29
 Weighted average shares
 outstanding 5,437 3,351
 -0- 10/28/93
 /CONTACT: Nicholas H. Toms, chairman and CEO, 212-832-2700, or Ed Stevens, executive vice president and CFO, 410-992-9922, both of The Peak Technologies Group, Inc.; or Desmond Towey or Bernadette McLaughlin, Desmond Towey & Associates, 212-888-7600, for The Peak Technologies Group, Inc./
 (PEAK)


CO: Peak Technologies Group, Inc. ST: New York IN: CPR SU: ERN

TW -- NY121 -- 8129 10/28/93 16:19 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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