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TRANSTECHNOLOGY ANNOUNCES RESULTS FOR QUARTER AND NINE MONTHS

 TRANSTECHNOLOGY ANNOUNCES RESULTS FOR QUARTER AND NINE MONTHS
 LOS ANGELES, Jan. 21 /PRNewswire/ -- TransTechnology Corp. (NYSE: TT) announced today a profitable third quarter ending Dec. 29, 1991 with earnings from continuing operations of $1,140,000 or $.22 per share. Revenues for the quarter were up 3.3 percent to $43,365,000 from $41,967,000. A $644,000 ($.13 per share) loss on discontinued operations, arising from increased reserves relative to environmental and legal issues at the company's previously divested Space Ordnance Systems division, reduced net income for the quarter to $496,000 or $.09 per share. For the prior year's third quarter the company had reported a loss from continuing operations of $937,000 or $.19 per share, with a gain from discontinued operations of $401,000 or $.08 per share resulting in a net loss for the quarter of $536,000 or $.11 per share.
 For the nine months ended Dec. 29, 1991, the company reported revenues of $120,898,000, down 4.67 percent from the prior year's $126,814,000. A loss from continuing operations of $109,000 ($.02 per share) through Dec. 29, 1991 compares to a profit of $223,000 ($.05 per share) in the comparable period last year. Discontinued operations, primarily related to the Computer Graphics division, yielded a loss of $5,768,000 ($1.14 per share) for the nine months ended Dec. 29, 1991 vs. a loss of $1,210,000 ($.24 per share) last year. The net loss for the nine months ended in 1991 was $5,877,000 or $1.16 per share compared to 1990's nine-month loss of $987,000 or $.19 per share.
 As has been previously announced, TransTechnology has signed a letter of intent for the sale of its Lundy Financial systems remittance processing, exception item, and financial management systems business for $39 million, a transaction that would result in the recognition of a pretax gain of approximately $8 million. The company also stated that it had received offers aggregating $11.1 million in cash and notes for its textile machinery, thin film calendered elastomer, and weather instrument divisions which, if accepted, would result in a pretax loss of $2 million. All four divestitures, which are expected to close by March 31, 1992, would result in an aggregate net gain of approximately $6 million.
 Michael J. Berthelot, vice chairman and chief executive officer of the company, said "we are pleased that our core businesses continue to strengthen and that we are starting to see the effects of tightened overhead cost and manufacturing controls this quarter. We are excited about the prospects for the company as these programs, combined with the above divestitures, develop into the future."
 TransTechnology Corp. is a diversified manufacturer of industrial and aerospace products.
 TRANSTECHNOLOGY CORP. FINANCIAL SUMMARY
 (In thousands of dollars, except share data)
 Third quarter ended Nine months ended
 Dec. 29 and 30, Dec. 29 and 30,
 1991 1990 1991 1990
 Revenues from
 continuing operations $43,365 $41,967 $120,898 $126,814
 Income (loss) from
 continuing operations
 before income taxes 1,760 (1,488) (162) 353
 Provision (credit) for
 income taxes 620 (551) (53) 130
 Income (loss) from
 continuing operations 1,140 (937) (109) 223
 Income (loss) from
 discontinued
 operations (a) (644) 401 (5,768) (1,210)
 Net income (loss) $496 ($536) ($5,877) ($987)
 Earnings (loss)
 per share:
 Income (loss) from
 continuing operations $0.22 ($0.19) ($0.02) $0.05
 Income (loss) from
 discontinued operations (0.13) 0.08 (1.14) (0.24)
 Net income (loss) $0.09 ($0.11) ($1.16) ($0.19)
 Number of shares used in
 computation of per share
 information 5,080,000 5,080,000 5,080,000 5,093,000
 (a) Income (loss) from discontinued operations is net of tax benefits of $402,000 and $1,723,000 for the quarter and nine months ended Dec. 29, 1991, and a tax provision of $233,000 and a tax benefit of $712,000 for the quarter and nine months ended Dec. 30, 1990.
 -0- 1/21/92
 /CONTACT: Michael J. Berthelot, vice chairman-investor relations of TransTechnology, 818-990-5920/
 (TT) CO: TransTechnology Corp. ST: California IN: ARO SU: ERN


AL-EH -- LA025 -- 2157 01/21/92 19:02 EST
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Date:Jan 21, 1992
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