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THERMO FIBERTEK ANNOUNCES FIRST QUARTER RESULTS

 WALTHAM, Mass., May 13 /PRNewswire/ -- Thermo Fibertek Inc. (AMEX: TFT) today reported revenues of $28.2 million for the quarter ended April 3, 1993, compared with $31.3 million for the quarter ended March 28, 1992. Net income was $1.6 million, or 6 cents per share, for the current quarter, compared with net income of $2.0 million, or 10 cents per share, for the same quarter last year.
 "Although the European recession has affected the company's business overseas, we are pleased with the profitability of our Vicker operation in the U.K., which was acquired in September 1992," said William A. Rainville, president and chief executive officer of Thermo Fibertek. "Despite the fact that Thermo Fibertek's backlog is down from the first quarter of 1992, proposal activity is at a record level."
 Thermo Fibertek develops, markets, and manufactures a range of equipment and accessory products for the domestic and international paper and paper-recycling industries. The company's products include de-inking and stock-preparation equipment for paper recycling. Thermo Fibertek is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
 Thermo Fibertek Inc. Financial Highlights
 Three Months Ended
 April 3, 1993 March 28, 1992
 Revenues $28,154,000 $31,290,000
 Income Before Provision for
 Income Taxes 2,800,000 3,423,000
 Net Income 1,624,000 2,028,000
 Earnings Per Share 6 cents 10 cents
 Weighted Average Shares 26,832,000 20,528,000
 -0- 5/13/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TFT)


CO: Thermo Electron ST: Massachusetts IN: SU: ERN

DJ -- NE005 -- 7932 05/13/93 08:47 EDT
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Publication:PR Newswire
Date:May 13, 1993
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