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TRANSTECHNOLOGY EXPECTS FOURTH QUARTER PROFIT FROM CONTINUING OPERATIONS, LOSS FROM DISCONTINUED

 TRANSTECHNOLOGY EXPECTS FOURTH QUARTER PROFIT
 FROM CONTINUING OPERATIONS, LOSS FROM DISCONTINUED
 UNION, N.J., June 8 /PRNewswire/ -- TransTechnology Corp. (NYSE: TT) expects to report a profit from continuing operations for both its fourth quarter and fiscal year ended March 31, 1992. Losses from discontinued operations, including gains and losses arising from the sales of business units, reclassifications of operating results from divested units, special charges on early debt retirements and establishment of increased reserves for previously discontinued operations, will result in losses from discontinued operations for both the fourth quarter and the fiscal year, yielding in a net loss for both the quarter and the fiscal year. Release of actual earnings data is expected later this week, having been delayed as a result of the complexity of reclassifying to discontinued operations four operating divisions which were sold late in, or subsequent to, the fourth quarter.
 The company also stated that it had completed the previously announced sales of its elastomer products and textile machinery divisions. These transactions have been reflected in the fourth quarter's results. As a result of final purchase price adjustments, the aggregate proceeds from these transactions and the previously completed sale of its Financial Systems division were reduced approximately $2.4 million from the amounts previously reported. The sale of the weather instruments division is expected to be completed later this month.
 Michael J. Berthelot, vice chairman and chief executive officer, stated that, "We are pleased with the continuation of operating profits and the completion of three of our four planned divestitures. As of last Friday, we have reduced our debt by $44 million from the end of previous fiscal year, divested our non-performing divisions, and significantly reduced our overhead. Our earnings for the first quarter ending June 30, 1992, are anticipated to be ahead of last year and in line with our previous estimates of full fiscal year 1993 earnings of $1.00 per share."
 -0- 6/8/92
 /CONTACT: Michael J. Berthelot, vice chairman investor relations of TransTechnology, 908-964-5666/
 (TT) CO: TransTechnology Corp. ST: New Jersey IN: ARO SU: ERP


CH-KJ -- LA025 -- 8106 06/08/92 17:16 EDT
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Publication:PR Newswire
Date:Jun 8, 1992
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