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THREE-FIVE SYSTEMS INC. REPORTS RECORD SALES & EARNINGS

 PHOENIX, Jan. 26 /PRNewswire/ -- Three-Five Systems Inc. (AMEX: TFS.EC) today reported record sales and earnings for both its fourth quarter as well as its fiscal year ended Dec. 31, 1992.
 Fourth quarter sales of $6,427,640 were 27 percent higher than sales of $5,045,384 in the comparable quarter of 1991. Earnings for the quarter of $400,894, or $.12 per share were 161 percent higher than earnings of $153,685, or $.04 per share achieved in the fourth quarter of 1991. Sales for the complete year rose to $20,833,169, compared to 1991 sales of $18,698,664 while earnings of $1,021,949, or $.28 per share increased by 337 percent over last year's earnings of $233,777, or $.06 per share.
 "1992 was an exciting year for the company," said David R. Buchanan, chairman and chief executive officer. "We were able to significantly increase our share of LED and LCD displays in the wireless communications market. Total sales increased by 42 percent from the first to the fourth quarter primarily because of this increased market penetration. This surge of orders required us to increase our manufacturing capacity by adding over 150 direct labor contract workers in Manila, in the fourth quarter alone. The challenge for 1993 is to prudently increase our manufacturing capacity to accommodate the increasing order rate we are presently experiencing."
 Three-Five Systems Inc. is a manufacturing technology company with worldwide headquarters located in Phoenix and European headquarters in Swindon, England. The company offers expertise in light emitting diode (LED) and liquid crystal display (LCD) technologies and advanced manufacturing techniques for the design and production of custom electronic information display systems and input devices for original equipment manufacturers' products. In its technology center in Phoenix, Three-Five operates a Class 1000 clean room and laboratory for producing LCD glass, along with a fabrication facility for low-quantity manufacturing and quick-turn, "proof of design" prototypes. High-volume production is performed in Manila. The company is a value-added engineering and manufacturing resource with increased emphasis in the communications, office automation and medical electronics markets.
 THREE-FIVE SYSTEMS INC.
 Financial Highlights
 For the three months ended For the year ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Net sales $6,427,640 $5,045,384 $20,833,169 $18,698,664
 Net income $400,894 $153,685 $1,021,949 $233,777
 Net income
 per share $.12 $.04 $.28 $.06
 Weighted average
 number of common
 shares and
 common share
 equivalents 3,425,349 3,868,453 3,616,098 3,862,342
 -0- 1/26/93
 /CONTACT: Peg Breen or Thomas L. Schoenbeck of Three-Five Systems, 602-496-0035/
 (TFS)


CO: Three-Five Systems Inc. ST: Arizona IN: CPR SU: ERN

JL-EH -- LA020 -- 8996 01/26/93 10:19 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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