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THERMO POWER ANNOUNCES THIRD QUARTER RESULTS

 WALTHAM, Mass., Aug. 10 /PRNewswire/ -- Thermo Power Corporation (AMEX: THP) today reported record revenues of $19,679,000 for the quarter ended July 3, 1993, compared with $8,229,000 in 1992. Net income was $615,000, compared with $83,000 in 1992.
 "Our record revenues are primarily the result of strong performance from our new FES, Inc. subsidiary, which also secured near-record bookings for its industrial refrigeration equipment during the quarter. Recent orders included a number of systems for customers in the Far East and Russia -- new markets that FES is beginning to penetrate," said Marshall J. Armstrong, chairman and chief executive officer of Thermo Power. "We also saw a slight increase in our marine engine business, and continue to expand applications for our TecoDrive(TM) natural gas vehicle engines, with the most recent demonstration of these engines in shuttle buses that will be operated by the city of Los Angeles."
 Thermo Power Corporation manufactures, markets, and services natural gas engines for vehicular and stationary applications, marine engines, industrial refrigeration equipment, and natural gas-fueled commercial cooling and cogeneration systems. The company also conducts research and development on advanced systems for clean-coal combustion and other high-efficiency gas-fueled devices. Thermo Power is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
 Thermo Power Corporation Financial Highlights
 Three Months Ended Nine Months Ended
 7/3/93 6/27/92 7/3/93 6/27/92
 Revenues $19,679,000 $8,229,000 $56,203,000 $24,524,000
 Income before
 provision for
 income taxes 974,000 157,000 2,023,000 214,000
 Net income 615,000 83,000 1,244,000 114,000
 Earnings per
 share 5 cents 1 cent 12 cents 1 cent
 Weighted average
 shares 12,223,000 7,893,000 10,171,000 7,890,000
 -0- 8/10/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (THP TMO)


CO: Thermo Power Corporation; Thermo Electron ST: Massachusetts IN: SU: ERN

DJ -- NE005 -- 1083 08/10/93 09:40 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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