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TRANS-LUX REPORTS INCREASES IN REVENUES AND EARNINGS FOR 1991 FISCAL YEAR, DECLARES DIVIDEND AND ANNOUNCES CHANGES IN MANAGEMENT

 TRANS-LUX REPORTS INCREASES IN REVENUES AND EARNINGS FOR 1991 FISCAL
 YEAR, DECLARES DIVIDEND AND ANNOUNCES CHANGES IN MANAGEMENT
 NORWALK, Conn., March 19 /PRNewswire/ -- Trans-Lux Corporation (AMEX: TLX) today reported increased revenues and earnings per share for the fourth quarter and fiscal year ended Dec. 31, 1991. The company's board of directors also authorized payment of a regular quarterly cash dividend.
 Annual revenues in 1991 were $22.1 million compared to $19.5 million last year. Net income was $321,000 (25 cents per share) vs. $175,000 (12 cents per share) in 1990. For the fourth quarter of 1991, revenues were $5.9 million against $4.6 million for the same period last year. The company had earnings of $63,000 (6 cents per share) in the 1991 fourth quarter, compared to $64,000 (4 cents per share) in the same quarter of 1990, when more shares were outstanding.
 "1991 was a year of gratifying accomplishments for Trans-Lux," said Chief Executive Officer Richard Brandt. "We increased revenues and doubled earnings per share despite a difficult economic environment that negatively affected some of our traditional lines of business. These achievements reflected our aggressive pursuit of new market opportunities, development of leading-edge products for our businesses, strengthened the scope of our international operations and steady entertainment results."
 Brandt also noted that Trans-Lux has "a very healthy balance sheet that enables us to explore new opportunities. Cash flow remains strong and, in fact, was more than $4 million in 1991, the highest level in five years."
 The board of directors also announced today that Victor Liss has been elected co-chief executive officer of Trans-Lux, effective today. Liss, who joined the company in 1968, will continue as vice chairman, corporate secretary and a director of Trans-Lux, and will relinquish his responsibilities as chief financial officer.
 Liss' responsibilities as chief financial officer will be assumed by Angela D. Toppi, who today was elected a vice president of the company. Toppi joined Trans-Lux in 1986 and will continue to serve as treasurer and assistant secretary of the company.
 The company's board of directors authorized a 3 cents per share quarterly cash dividend, payable April 10, 1992, to common shareholders of record as of April 1, 1992. Holders of Class B stock will receive 2.7 cents per share.
 Trans-Lux Corporation has two operating divisions. The communications division designs, produces, leases, sells and services large-scale multicolor information displays for both indoor and outdoor use, credit terminals, stock ticker devices, facsimile equipment and teleprinters. The entertainment division operates a chain of motion picture theaters in the Southwest.
 TRANS-LUX CORPORATION
 Results of Operations
 (Unaudited)
 Periods ended Three Months 12 Months
 Dec. 31 1991 1990 1991 1990
 Gross revenues $5,929,000 $4,576,000 $22,133,000 $19,469,000
 Income bef. taxes 112,000 150,000 542,000 335,000
 Net income 63,000 64,000 321,000 175,000
 Earnings per share $0.06 $0.04 $0.25 $0.12
 Average common shares
 outstanding 1,249,000 1,457,000 1,249,0000 1,453,000
 -0- 3/19/92
 /CONTACT: Victor Liss of Trans-Lux, 203-853-4321/
 (TLX) CO: Trans-Lux Corporation ST: Connecticut IN: SU: ERN


AH-CK -- NY066 -- 9756 03/19/92 14:30 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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