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UNIQUE MOBILITY ANNOUNCES SECOND QUARTER RESULTS

 GOLDEN, Colo., June 16 /PRNewswire/ -- Unique Mobility Inc. (AMEX: UQM) reported an operating loss for the quarter ended April 30, 1993, of $533,194, or $0.06 per share, on total revenue of $849,468. This compares with an operating loss of $452,680, or $0.07 per share, on total revenue of $1,047,539 for the year-earlier period. The company's six-month operating loss was $1,152,439, or $0.14 per share, on total revenue of $1,285,489 vs. a loss of $798,872, or $0.12 per share for the first half of fiscal 1992.
 Ray A. Geddes, chief executive officer, stated, "During the second quarter the company expanded its investment in the advancement of its proprietary technologies, particularly development of its advanced electric traction drive for clean vehicles, which is being developed in cooperation with Bayerische Motoren Werke AG (BMW) (Munich) and ABB Asea Brown Boveri Ltd. (ABB)(Zurich); and the development of high-speed flywheel energy storage systems based on proprietary technology developed by Unique and Alcan Aluminum Ltd. (Montreal) over the last several years." Geddes added, "The high volume production of electric vehicles has not yet begun and the market for engineering services was soft throughout the first half of fiscal 1993 due to worldwide recessionary conditions. However, sales of UNIQ(R) products showed steady growth. During the first half of fiscal 1993, the company booked sales and firm orders of approximately $850,000, compared to full-year sales of $324,000, and $470,000 for all of fiscal 1991 and 1992, respectively.
 "Operating results for the quarter and first half were in line with our business plan," added Geddes. "The company's financial condition and liquidity remain good, due in part, to the conversion of $1,200,000 of convertible term notes into common stock during the second quarter by Advent International Corp. (Boston)."
 Unique is a Golden-based engineering concern and manufacturer of high-efficiency, high-power, permanent magnet electric transmission system for BMW and other automotive customers. Unique, in association with BMW and ABB, will soon being commercial distribution of its state- of-the-art electric vehicle traction system to the automotive industry worldwide.
 UNIQUE MOBILITY INC.
 Condensed Consolidated Statement of Operations
 (In thousands of dollars except per share amounts)
 Quarter Ended Six Months Ended
 April 30, April 30,
 1993 1992 1993 1992
 Revenues $850 $1,048 $1,285 $1,781
 Costs relating to
 contract services 600 551 997 979
 Research and
 development 393 279 678 455
 General, administrative
 and other 390 671 762 1,146
 Net loss ($533) ($453) ($1,152) ($799)
 Loss per common
 share ($.06) ($.07) ($.14) ($.12)
 Average equivalent
 shares outstanding 8,951 6,700 8,467 6,670
 -0- 6/16/93
 /CONTACT: John S. Gould, director of investor relations, or Donald A. French, treasurer, of Unique Mobility, 303-278-2002/
 (UQM)


CO: Unique Mobility Inc. ST: Colorado IN: AUT SU: ERN

BP-JL -- LA012 -- 2504 06/16/93 09:33 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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